Rusoro Mining Limited: In-Fill Diamond Drilling Confirms Continuity of High Grade Gold Zones at the SREP Project

Rusoro Mining Limited (TSX VENTURE: RML) –

The Company is very pleased to report that results for 32 holes of a 40 hole, 10,000 m diamond drill program at the San Rafael/El Placer Project (SREP) in southeastern Venezuela have been received. This drilling was part of an in-fill program designed by the Company’s engineering consultants, Micon International, to further test the continuity of the main gold mineralized blocks.

Highlights:

– In-fill drilling program has confirmed the existing interpretation with grades consistent to previous drilling (averaging 16 to 20 g/t Au), being encountered in all holes targeted at the central portions of the interpreted ore blocks.

– Drilling outlined a significant new gold mineralized structure 20 to 40 metres north of the targeted blocks. The Company will immediately design a drill program to define the limits of this new zone both in strike and to depth.

– Based on the highly positive nature of the in-fill drilling the Company plans to complete a 1.8 kilometre ramp which will provide access to the main ore bodies 180 metres below surface. The ramp will provide all of the necessary access for future mining operations.

Detailed drilling and underground sampling will continue to evaluate the potential economics of the SREP zones. Preliminary engineering including the location, orientation, and angle of the ramp has been completed by Rusoro staff. A mining contractor has been hired who has completed initial site visits and a review of the existing layout. Equipment requirements have been determined and their purchase is underway.

The Company’s main goal is to concurrently build this ramp and complete the underground development at SREP, while continuing the comprehensive expansion and upgrade of the Company’s centrally located Emilia mill facility. The Emilia Mill Facility project is on schedule for completion in Q4 2007 with the Company aiming to start commercial production in early 2008.

Diamond drilling was conducted by Major Drilling of Moncton, New Brunswick, Canada. 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, 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 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. 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 this news release.

ON BEHALF OF THE BOARD

Mario Szotlender, President

 ————————————————————-                   Weighted Average ————————————————————- Drill Hole     Au (g/t)     sample (m)     From (m)     To (m) ————————————————————- ————————————————————- ED-07-540         4.44            1.0        174.0      175.0 ED-07-541        23.89            1.0        158.0      159.0 ED-07-542         9.25            2.0        107.0      109.0 ED-07-544        12.37            3.0        165.0      168.0 ED-07-545         4.36            3.0        276.0      279.0 ED-07-547         3.45            1.0        149.0      150.0 ED-07-548         3.04            3.0        217.0      220.0  and              7.67            1.0        247.0      248.0 ED-07-549         2.23            2.0        233.0      235.0 ED-07-550        11.44            3.0        340.0      343.0 ED-07-551         6.94            5.5        389.5      395.0 ED-07-552        12.40            2.0        364.4      366.4 ED-07-553         0.65            2.0        186.0      188.0 ED-07-554         7.12            2.0        225.0      227.0 ED-07-556         8.17            2.0        207.0      209.0 ED-07-557         0.73            3.0        334.0      337.0 ED-07-558         1.01            3.0        377.0      380.0 ED-07-559         1.16            5.0        421.0      426.0 ED-07-560         3.51            5.0        268.0      273.0 ED-07-650         3.08            2.0        143.0      145.0 ED-07-651        51.93            2.0        295.0      297.0  and             47.24            2.0        312.0      314.0 ED-07-652         3.78            2.0        109.0      111.0 ED-07-653        12.34            1.0        348.0      349.0 ED-07-657         7.53            1.0        228.0      229.0 ED-07-658         0.86            1.0        137.0      138.0 ED-07-661         1.56            6.0        405.0      411.0 ED-07-662         6.01            1.0        208.0      209.0 ED-07-665         3.78            2.0        150.0      152.0 ED-07-666        71.25            3.0        541.0      544.0 ED-07-667         0.78            2.0        154.0      156.0 ED-07-669        16.23            2.0        291.0      293.0 ED-07-670        12.33            3.0        312.0      315.0 ED-07-671         1.66            2.0        322.0      324.0 ————————————————————- NOTES: 1) All thicknesses are core widths / true widths estimated at           70-80%.        2) All weighted averages calculated using uncut assays. 

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

 Contacts: Rusoro Mining Ltd. Ross Gatensbury (604) 682-1545 or Toll Free: 1-800-668-0091 (604) 682-1514 Email: info@rusoro.com Website: www.rusoro.com

SOURCE: Rusoro Mining Limited