2009-02-24 12:28 ET - News Release

Mr. George Salamis reports

RUSORO MINING LTD. ANNOUNCES TERMS OF C$100,200,000.00 EQUITY FINANCING

Rusoro Mining Ltd., in connection with its previously announced overnight marketed public offering on Feb. 23, 2009, has entered into an underwriting agreement with Canaccord Capital Corp. to act as sole underwriter and sell 167 million common shares in the company at a price of 60 cents per share to raise gross proceeds of $100.2-million, pursuant to a short form prospectus. In addition, the company has granted Canaccord an option to purchase up to that number of common shares equal to 15 per cent of the common shares sold pursuant to the offering, exercisable at any time up to 30 days from the closing of the offering.

The company intends to use the net proceeds from the offering for capital expenditures on its Venezuelan gold properties and for general corporate purposes.

The offering is scheduled to close on or about March 12, 2009, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the securities regulatory authorities.

We seek Safe Harbor.