Rusoro Mining Limited
TSX VENTURE : RML

Rusoro Mining Limited

July 08, 2008 08:00 ET

Rusoro Reports Multiple High Grade Intercepts From Yuruan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2008) - Rusoro Mining Ltd. (TSX VENTURE:RML) is pleased to provide the following update on drill results for the Yuruan Project located 40km south of the town of El Dorado in Bolivar State, Venezuela.

The current status of the Company's exploration program on the Yuruan Project is as follows;

- The Company's completed 14,676.5 m of drilling in 93 diamond drill holes in the first six months of 2008 (12 holes for 2461m in 2007).

- Results have been received for slightly more than half (53%) of the drilling to date. Highlights include;



--------------------------------------------------------------------
ddh from to m Au g/t Area
--------------------------------------------------------------------
--------------------------------------------------------------------
DY-08-39 74.00 77.00 3.00 11.39 Zona Norte
DY-07-14 48.00 55.30 7.30 4.00 Zona Norte
DY-08-65 23.50 32.00 8.50 6.49 Zona Central A
DY-08-32 59.00 63.00 4.00 10.55 Zona Central A
DY-08-73 101.80 107.50 5.70 39.10 Zona Central B
DY-08-26 103.00 104.00 1.00 21.64 Zona Sur
DY-08-43 96.00 97.00 1.00 15.80 Zona Sur
--------------------------------------------------------------------

NOTES: 1) All thicknesses are core widths / true widths estimated at 80-90%.
2) All weighted averages calculated using uncut assays.


- The drilling has been highly successful in outlining a series of gold mineralized zones including both broad gold zones in the oxidized saprolite and structurally controlled high grade veins.

- Exploration permits for the adjacent mineral title are expected shortly and additional drills will be mobilized to test a series of existing geological, geophysical, and geochemical anomalies.

The Yuruan Concession is contiguous with several other mineral titles, all 100% controlled by Rusoro, which total more than 11,000 hectares. Exploration is on-going and additional drilling will be completed in 2008 including;

1) follow up drilling on the Yuruan Concession to further define high grade intercepts

2) first pass drilling of several high priority anomalies on the adjacent mineral titles

Drilling to date has outlined a series of gold mineralized zones contained within a large regional-scale structural trend, which cross the Yuruan Concession and extend on the adjacent Rusoro controlled mineral titles. The Zones include (from north to South);

1) Zona Norte - mineralization consists of a series of gold mineralized shears with minor quartz veining.



--------------------------------------------------------------------
ddh from to m Au g/t Zone
--------------------------------------------------------------------
--------------------------------------------------------------------
DY-07-12 24.50 26.90 2.40 1.23 Zona Norte
DY-07-14 48.00 55.30 7.30 4.00 Zona Norte
incl. 49.00 50.00 1.00 15.71 Zona Norte
DY-07-14 125.00 126.00 1.00 3.33 Zona Norte
DY-08-39 74.00 77.00 3.00 11.39 Zona Norte
DY-08-39 77.00 87.00 10.00 2.25 Zona Norte
--------------------------------------------------------------------


2) Zona Central A & B - is the largest zone outlined to date (includes the Maria Para pit) comprised primarily of structurally controlled high grade quartz veins.



--------------------------------------------------------------------
ddh from to m Au g/t Area
--------------------------------------------------------------------
--------------------------------------------------------------------
DY-07-17 6.00 6.80 0.80 6.46 Zona Central A
DY-07-18 7.00 7.50 0.50 12.65 Zona Central A
DY-07-19 154.65 158.00 3.35 3.30 Zona Central A
DY-08-32 18.10 21.80 3.70 2.42 Zona Central A
DY-08-32 59.00 63.00 4.00 10.55 Zona Central A
incl. 59.00 60.00 1.00 31.99 Zona Central A
DY-08-41 75.00 79.20 4.20 2.29 Zona Central A
DY-08-45 31.50 33.60 2.10 16.88 Zona Central A
incl. 31.50 32.10 0.60 56.77 Zona Central A
DY-08-55 121.00 123.00 2.00 10.25 Zona Central A
DY-08-63 66.00 72.30 6.30 3.46 Zona Central A
incl. 68.00 69.00 1.00 12.00 Zona Central A
DY-08-65 23.50 32.00 8.50 6.49 Zona Central A
DY-08-74 84.00 93.00 9.00 4.20 Zona Central A
--------------------------------------------------------------------
DY-08-73 101.80 107.50 5.70 39.10 Zona Central B
incl. 104.90 105.50 0.60 355.50 Zona Central B
DY-08-73 110.00 116.80 6.80 1.02 Zona Central B
--------------------------------------------------------------------


3) Zona Sur - a total of 25 holes have been completed to date outlining a series of sub-parallel gold mineralized structures including the main MP3 vein.



--------------------------------------------------------------------
ddh from to m Au g/t Zone
--------------------------------------------------------------------
--------------------------------------------------------------------
DY-07-23 31.50 32.70 1.20 10.33 Zona Sur
DY-08-25 46.70 48.90 2.20 6.28 Zona Sur
DY-08-26 103.00 104.00 1.00 21.64 Zona Sur
DY-08-29 143.00 148.00 5.00 1.53 Zona Sur
DY-08-43 96.00 98.70 2.70 6.10 Zona Sur
incl. 96.00 97.00 1.00 15.80 Zona Sur
DY-08-64 128.20 129.30 1.10 13.76 Zona Sur
incl. 128.20 128.70 0.50 29.25 Zona Sur
DY-08-64 141.00 142.85 1.85 8.02 Zona Sur
incl. 141.00 141.70 0.70 20.15 Zona Sur
DY-08-64 183.00 184.00 1.00 6.05 Zona Sur
--------------------------------------------------------------------

NOTES (for all tables):
1) All thicknesses are core widths / true widths estimated at 80-90%.
2) All weighted averages calculated using uncut assays.


Of specific interest are a number of zones of high grade mineralization which are open along strike and to depth. At Zona Central A, an area of mineralization 250m in strike and 500m wide 25m to 100m from surface with four sub-parallel structures has been identified. The mineralization ranges from 0.5 and 9.0 metres wide at 2.0g/t to 56.0 g/t Au. At Zona Sur an area 300m long by 25m wide has been tested from 30m to 185m depth identifying structures ranging from 0.5 to 5.0 metres wide grading from 1.5 to 29.3 g/t. Initial results from Zona Central B have identified a similar high grade anomalous area 150m in strike length with the majority of results yet to be received. A phase two drill program will further define the extent of these zones.

Rusoro is very pleased with the progress on the Yuruan Project. Exploration and drilling objectives for the 2008 programs will continue to be designed around the expansion of gold zones and the definition of gold resources, specifically focused on creating development options for expanding (or extending the mine life) of the existing operations and/or generating additional economic gold deposits for future mine development. The Company's exploration programs continue to prove the world class geology of Venezuela for the discovery of gold.

Diamond drilling was conducted by Technodrilling and CorBeil Drilling of Puerto Ordaz, Venezuela. All drilling and drill sampling have been completed using industry standard practices. All drill core is described in detail and photographed and one half of the core remains for inspection and reference.

Sample analyses have been conducted at SGS labs and Triad Labs located in El Dorado and El Callao, Bolivar State Venezuela. All sample analyses were completed using industry standard practices and standard samples, blanks and duplicate check samples were randomly inserted into the sample stream. A review of the QA/QC results shows no significant bias and all results are considered highly reliable. Sample rejects for all drill samples are stored in Rusoro's secure facilities in Tumeremo, Venezuela, and will continue to be available for any further testing which may be required. All QA/QC is completed under the direction of G.F. Smith, P.Geo.

Qualified Person: Mr. Gregory Smith, P.Geo, the Vice-President Exploration of the Company, is the Qualified Person as defined by National Instrument 43-101, and is responsible for the accuracy of the technical information in this news release.

ON BEHALF OF THE BOARD

George Salamis, President

Forward-looking statements: This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.



Table - List of all significant results to date (approx. 47% of samples
pending)

--------------------------------------------------------------------
ddh from to m Au g/t Area
--------------------------------------------------------------------
--------------------------------------------------------------------
DY-07-12 24.50 26.90 2.40 1.23 Zona Norte
DY-07-14 42.00 45.00 3.00 0.88 Zona Norte
DY-07-14 48.00 55.30 7.30 4.00 Zona Norte
incl. 1.00 15.71 Zona Norte
DY-07-14 125.00 126.00 1.00 3.33 Zona Norte
DY-07-17 6.00 6.80 0.80 6.46 Zona Central A
DY-07-17 10.00 11.10 1.10 0.91 Zona Central A
DY-07-17 43.00 44.00 1.00 0.67 Zona Central A
DY-07-18 7.00 7.50 0.50 12.65 Zona Central A
DY-07-18 20.00 22.50 2.50 0.63 Zona Central A
DY-07-18 34.70 37.50 2.80 0.66 Zona Central A
DY-07-18 47.00 48.00 1.00 0.54 Zona Central A
DY-07-18 50.00 51.00 1.00 2.88 Zona Central A
DY-07-19 40.00 41.00 1.00 0.87 Zona Central A
DY-07-19 55.00 56.00 1.00 0.77 Zona Central A
DY-07-19 154.65 158.00 3.35 3.3 Zona Central A
incl. 0.35 11.41 Zona Central A
DY-07-20 4.00 5.00 1.00 2.37 Zona Central A
DY-07-20 55.00 56.00 1.00 1.91 Zona Central A
DY-07-20 64.00 70.00 6.00 0.72 Zona Central A
DY-07-20 140.40 141.00 0.60 2.33 Zona Central A
DY-07-20 176.00 178.00 2.00 1.15 Zona Central A
DY-07-20 189.00 190.00 1.00 7.01 Zona Central A
DY-07-21 11.00 12.00 1.00 0.83 Zona Central A
DY-07-21 99.00 100.00 1.00 0.67 Zona Central A
DY-07-21 153.75 155.50 1.75 2.44 Zona Central A
DY-07-22 33.75 35.50 1.75 1.35 Zona Central A
DY-07-22 46.50 49.50 3.00 1.18 Zona Central A
DY-07-22 52.50 55.00 2.50 0.5 Zona Central A
DY-07-23 31.50 32.70 1.20 10.33 Zona Sur
incl. 0.60 11.98 Zona Sur
DY-07-23 33.85 34.85 1.00 1.12 Zona Sur
DY-07-24 68.00 69.00 1.00 1.02 Zona Sur
DY-07-24 90.00 92.00 2.00 3.04 Zona Sur
DY-07-24 143.00 144.00 1.00 1 Zona Sur
DY-08-25 46.70 48.90 2.20 6.28 Zona Sur
DY-08-25 82.55 83.50 0.95 0.60 Zona Sur
DY-08-26 38.20 40.00 1.80 1.85 Zona Sur
DY-08-26 50.30 51.40 1.10 0.92 Zona Sur
DY-08-26 103.00 104.00 1.00 21.64 Zona Sur
DY-08-26 119.00 122.00 3.00 1.04 Zona Sur
DY-08-27 48.38 49.16 0.78 0.71 Zona Central A
DY-08-27 101.90 103.00 1.10 3.19 Zona Central A
DY-08-27 107.00 108.00 1.00 0.89 Zona Central A
DY-08-27 133.00 135.36 2.36 5.25 Zona Central A
DY-08-28 142.00 143.00 1.00 2.04 Zona Central A
DY-08-29 7.50 8.16 0.66 0.87 Zona Sur
DY-08-29 13.50 14.20 0.70 2.19 Zona Sur
DY-08-29 15.90 16.50 0.60 0.67 Zona Sur
DY-08-29 51.40 52.10 0.70 0.72 Zona Sur
DY-08-29 143.00 148.00 5.00 1.53 Zona Sur
DY-08-30 35.50 36.25 0.75 0.63 Zona Sur
DY-08-30 65.60 66.50 0.90 1.1 Zona Sur
DY-08-30 137.00 138.00 1.00 0.5 Zona Sur
DY-08-31 43.00 43.70 0.70 1.03 Zona Central A
DY-08-32 18.10 21.80 3.70 2.42 Zona Central A
DY-08-32 59.00 63.00 4.00 10.55 Zona Central A
incl. 1.00 31.99 Zona Central A
DY-08-32 99.00 101.00 2.00 0.52 Zona Central A
DY-08-32 113.00 116.00 3.00 1.21 Zona Central A
DY-08-33 68.50 69.50 1.00 5.82 Zona Sur
DY-08-34 71.00 72.00 1.00 0.96 Zona Sur
DY-08-34 101.00 102.00 1.00 1.45 Zona Sur
DY-08-35 19.00 19.50 0.50 1.47 Zona Norte
DY-08-35 62.00 63.00 1.00 0.56 Zona Norte
DY-08-35 92.00 93.00 1.00 2.41 Zona Norte
DY-08-36 14.10 14.70 0.60 1.54 Zona Sur
DY-08-36 79.50 80.50 1.00 0.85 Zona Sur
DY-08-36 90.00 91.00 1.00 0.85 Zona Sur
DY-08-37 41.25 42.00 0.75 0.56 Zona Sur
DY-08-37 97.00 98.50 1.50 1.62 Zona Sur
DY-08-38 28.10 28.80 0.70 0.57 Zona Norte
DY-08-38 51.00 51.50 0.50 1.51 Zona Norte
DY-08-39 74.00 77.00 3.00 11.39 Zona Norte
DY-08-39 77.00 87.00 10.00 2.25 Zona Norte
DY-08-40 12.00 12.75 0.75 1.07 Zona Sur
DY-08-40 24.90 25.50 0.60 1.60 Zona Sur
DY-08-40 28.20 29.00 0.80 1.10 Zona Sur
DY-08-40 126.00 127.00 1.00 0.69 Zona Sur
DY-08-41 6.00 8.00 2.00 0.66 Zona Central A
DY-08-41 75.00 79.20 4.20 2.29 Zona Central A
DY-08-42 46.60 47.40 0.80 0.80 Zona Sur
DY-08-42 97.50 98.50 1.00 0.69 Zona Sur
DY-08-42 127.00 128.00 1.00 2.16 Zona Sur
DY-08-43 96.00 98.70 2.70 6.10 Zona Sur
incl. 1.00 15.80 Zona Sur
DY-08-43 127.00 128.00 1.00 1.80 Zona Sur
DY-08-43 136.00 137.00 1.00 1.20 Zona Sur
DY-08-45 31.50 33.60 2.10 16.88 Zona Central A
incl. 0.60 56.77 Zona Central A
DY-08-46 7.00 7.90 0.90 1.97 Zona Central A
DY-08-46 9.90 10.60 0.70 1.12 Zona Central A
DY-08-48 21.00 22.00 1.00 1.36 Zona Sur
DY-08-49 50.50 51.50 1.00 0.69 Zona Norte
DY-08-49 53.00 54.00 1.00 1.98 Zona Norte
DY-08-50 71.20 71.90 0.70 0.77 Zona Sur
DY-08-50 73.50 74.25 0.75 0.57 Zona Sur
DY-08-50 84.75 85.50 0.75 0.93 Zona Sur
DY-08-52 115.00 117.00 2.00 0.53 Zona Central A
DY-08-52 151.00 152.00 1.00 2.12 Zona Central A
DY-08-53 7.50 9.60 2.10 0.50 Zona Central A
DY-08-53 11.25 12.00 0.75 0.63 Zona Central A
DY-08-53 15.00 17.20 2.20 0.74 Zona Central A
DY-08-55 18.00 18.60 0.60 0.54 Zona Central A
DY-08-55 121.00 123.00 2.00 10.25 Zona Central A
DY-08-55 139.00 140.00 1.00 1.06 Zona Central A
DY-08-63 28.50 29.70 1.20 2.15 Zona Central A
DY-08-63 66.00 72.30 6.30 3.46 Zona Central A
incl. 1.00 12.00 Zona Central A
DY-08-64 128.20 129.30 1.10 13.76 Zona Sur
incl. 0.50 29.25 Zona Sur
DY-08-64 141.00 142.85 1.85 8.02 Zona Sur
incl. 0.70 20.15 Zona Sur
DY-08-64 183.00 184.00 1.00 6.05 Zona Sur
DY-08-65 23.50 32.00 8.50 6.49 Zona Central A
incl. 0.75 44.54 Zona Central A
DY-08-66 12.00 12.60 0.60 1.02 Zona Central A
DY-08-66 94.00 99.00 5.00 0.81 Zona Central A
DY-08-67 9.00 10.50 1.50 1.2 Zona Central A
DY-08-69 102.00 103.00 1.00 0.55 Zona Central A
DY-08-69 155.00 155.50 0.50 1.12 Zona Central A
DY-08-70 32.25 33.00 0.75 1.39 Zona Central B
DY-08-70 69.70 73.00 3.30 1.15 Zona Central B
DY-08-70 85.00 86.00 1.00 0.55 Zona Central B
DY-08-73 88.70 92.00 3.30 1.47 Zona Central B
DY-08-73 96.55 98.00 1.45 0.63 Zona Central B
DY-08-73 101.80 107.50 5.70 39.10 Zona Central B
incl. 0.60 355.50 Zona Central B
DY-08-73 110.00 116.80 6.80 1.02 Zona Central B
DY-08-73 175.60 177.30 1.70 0.59 Zona Central B
DY-08-73 181.00 182.00 1.00 1.07 Zona Central B
DY-08-74 84.00 93.00 9.00 4.20 Zona Central A
--------------------------------------------------------------------

"The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release."

Contact Information

  • Rusoro Mining Limited
    George Salamis
    President
    (604) 632-4044 or Toll Free: 1-800-668-0091
    (604) 632-4045 (FAX)
    Email: info@rusoro.com
    Website: www.rusoro.com