VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2011) - Rusoro Mining Ltd. (TSX VENTURE:RML - News; "Rusoro" or "the Company") reports the following:

On August 23, 2011, President of Venezuela Hugo Chavez Frias approved a decree with force of organic law ("the Decree") which reserves to the State of Venezuela ("the State"), exclusive rights for the extraction of gold in Venezuela.

On August 24, 2011, the organic status of the decree was approved by the Supreme Court of Venezuela and it was published in the Official Gazette of Venezuela on September 16, 2011.

The Company's President and Chief Executive Officer as well as its Chairman, Messrs. Andre and Vladimir Agapov, have met with Mr. Rafael Ramirez, President of the Venezuela State owned oil company PDVSA and Minister of Energy and Petroleum of Venezuela.

Mr. Ramirez was informed of the Company's listing on TSX Venture Exchange and the importance for the company to protect shareholder value.

Mr. Ramirez outlined the Government's intention to enter into a joint operating agreement with Rusoro, forming a mixed interest enterprise (the Mixed Enterprise) for the purposes of the future development and exploitation of gold assets in Venezuela. Mr. Ramirez has informed the Company's officers that the Venezuelan State, is seeking a controlling stake in the Mixed Enterprise (55%) and that Rusoro will be compensated for its decrease in ownership.

Rusoro continues to produce gold from two operations, the open pit Choco 10 mine and the high grade underground Isidora mine, a 50/50 joint venture with the Venezuelan Government.

ON BEHALF OF THE BOARD