Rusoro Mining Limited
TSX VENTURE : RML

Rusoro Mining Limited

November 29, 2007 11:59 ET

Updated 43-101 Accepted for Filing; Rusoro Drills 21m of 8.44g/t at Increible 6

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - Rusoro Mining Ltd. (TSX VENTURE:RML) is pleased to report that an updated 43-101 report, prepared by Micon International Ltd. for the Increible 6 gold project was accepted for filing on November 23rd, 2007. The cut off date for results included in this report was June 11, 2007 and the Company continues to receive results for subsequent drilling from the Increible 6 Project, the latest of which are reported in this release. Recent highlights include;

-Drilling continues to intersect significant gold mineralization in multiple zones including; 21m @ 8.44 g/t Au, 29m @ 6.99 g/t Au, 19m @ 5.26 g/t Au, and 31m @ 2.94 g/t Au.

- These excellent results further demonstrate the open-ended nature of the Increible 6 Gold mineralization. The results reported in this release have not been included in the recently filed and accepted 43-101 resource estimation.

- The company now has a total of 1.69M oz (21.9Mt @ 2.40 g/t Au) ounces measured and indicated and 3.84M oz (73.4Mt @ 1.63 g/t Au) ounces inferred. These numbers do not include the acquisition of the Choco 10 mine and deposits from Gold fields announced October 11th, 2007. The properties being acquired from Gold Fields host 4.45M oz (56.1Mt @ 2.46 g/t Au) ounces measured and indicated and 2.87M oz (40.8Mt @ 2.20 g/t Au).

The details of the 43-101 compliant resources at Increible 6 were previously released on November 15th, 2007 and these resources currently stand at 1,587,000oz Au inferred (23.45Mt grading 2.11 g/t) and indicated 1,100,000oz Au (17.5Mt grading 1.95 g/t). Since the cut-off of drilling for the report, Rusoro has completed an additional 40,000 metres at the Incredible 6 Project and results for approximately 19,000 metres (83 holes) have been recently compiled and are reported in this release.

The most recent set of results continue to be a mixture of expansion and in-fill drilling on all the main zones (Culebra, Cristina, Elisa and Olga) at the Increible 6. All zones remain open along strike and down dip.

At Culebra results were received for 29 holes. The drilling was highly successful in intersecting numerous strongly gold mineralized zones, several of which averaged greater than 30 metres and include;



--------------------------------------------------------------
Drill Hole type Au g/t m From to
--------------------------------------------------------------
--------------------------------------------------------------
IRS-272 RC 5.95 6.0 86.0 92.0
IRS-273 RC 8.44 21.0 65.0 86.0
IRS-274 RC 4.03 15.0 77.0 92.0
IRS-275 RC 2.94 31.0 86.0 117.0
IRS-276 RC 1.03 26.0 85.0 111.0
IRS-278 RC 3.27 36.0 83.0 119.0
IRS-279 RC 2.18 28.0 78.0 106.0
IRS-280 RC 6.17 13.0 49.0 62.0
IRS-280 RC 2.98 30.0 78.0 108.0
IRS-281 RC 3.16 17.0 80.0 97.0
IRS-283 RC 1.19 33.0 82.0 115.0
IRS-283 RC 1.07 35.0 124.0 159.0
IRS-284 RC 1.19 28.0 78.0 106.0
IRS-285 RC 0.96 53.0 75.0 128.0
IRS-286 RC 1.77 68.0 40.0 108.0
IRS-287 RC 0.98 66.0 44.0 110.0
IRS-290 RC 2.24 16.0 149.0 165.0
IRS-291 RC 4.67 8.0 54.0 62.0
IRS-296 RC 5.74 12.0 50.0 62.0
IRS-340 RC 1.39 34.0 0.0 34.0
--------------------------------------------------------------


The majority of the new intercepts at Culebra are near surface and within the oxidized saprolitic zone. The Culebra Zone continues to be open along strike and down dip.

Drilling at the Elisa, Cristina and Olga zones continues to be successful in extending all zones along strike and to depth. Of specific interest is the intersecting and expansion of several mineralized structures between Elisa and Cristina which continues to close the space between the two zones with significant mineralization. Step out drilling one kilometre east of Elisa was successful in discovering a new zone, El Buzo. Highlights of results for Elisa, Cristina, Olga and El Buzo include;



--------------------------------------------------------------------------
Drill Hole type Au g/t m from to Zone
--------------------------------------------------------------------------
--------------------------------------------------------------------------
IC-07-425 DDH 6.99 29.0 536.0 565.0 Elisa
IC-07-425 DDH 3.06 38.0 482.0 520.0 Elisa
IC-07-428 DDH 5.26 19.0 432.0 451.0 Elisa
IC-07-425 DDH 2.77 34.0 370.0 404.0 Elisa
IC-07-428 DDH 3.75 21.0 307.0 328.0 Elisa
IC-07-428 DDH 3.22 24.0 388.0 412.0 Elisa
IRS-317 RC 5.24 11.0 73.0 84.0 Olga
IC-07-422 DDH 1.67 31.0 445.0 476.0 Elisa
IC-07-423 DDH 6.36 8.1 203.0 211.1 Cristina
IC-07-419 DDH 11.30 3.0 11.0 14.0 Cristina
IC-07-418 DDH 5.16 6.0 450.0 456.0 Elisa
IC-07-432 DDH 1.30 23.0 275.0 298.0 Olga
IC-07-425 DDH 5.90 5.0 571.0 576.0 Elisa
IC-07-437 DDH 1.21 22.0 286.0 308.0 Cristina
IC-07-424 DDH 8.35 3.0 250.0 253.0 Cristina
IC-07-422 DDH 0.89 28.0 140.0 168.0 Elisa
IC-07-425 DDH 1.70 14.0 235.0 249.0 Elisa
IRS-303 RC 1.26 7.0 63.0 70.0 El Buzo
--------------------------------------------------------------------------


A full set of results and a drill plan map highlighting the locations for holes discussed in this release can be found at the Company's website at www.rusoro.com.

Diamond drilling was conducted by Core-Beil Drilling of Puerto Ordaz Venezuela and RC drilling was completed by AK Drilling of Peru. All drilling and drill sampling has 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 Actlabs in Tumeremo, Venezuela and Triad Labs located in El Callao Venezuela. All sample analyses was completed using industry standard practices and standard samples, blanks and duplicate check samples were randomly inserted into the sample stream to ensure quality control. 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.

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 this news release.

ON BEHALF OF THE BOARD

George Salamis, President

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

Contact Information

  • Rusoro Mining Ltd.
    George Salamis
    President
    (604) 632-4044
    (604) 632-4045 (FAX)
    Website: www.rusoro.com