Rusoro Mining Ltd.
Rusoro Mining Ltd.

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Rusoro Mining Ltd. Rusoro Mining Ltd.

Rusoro Mining News


 February 26, 2007
Rusoro Advances Venezuelan Assets

 
Vancouver, Canada - Rusoro Mining Ltd. is pleased to give an update on its exploration and development activities in Bolivar State, Venezuela. The Company continues to move forward to meet its goals for drilling, completing its engineering studies and advancing its mill expansion and underground development program. Significant accomplishments include:
  • Over 40,000 metres of the 220,000 metres scheduled has been completed since November 2006, with results received for more than 14,500 samples.

  • Micon International continues to advance scoping studies on both the Increible 6 Project and the El Dorado District Projects.

  • Upgrade and expansion of the Emilia Mill and underground development of the surrounding deposits continue to progress in conjunction with the related scoping study.
Highlights of recent results include:
---------------------------------------------------------------
Project         Hole     Au g/t         m       from         to
---------------------------------------------------------------
Inc6        IRS - 87       2.32      82.0      201.0      283.0
Inc6        IRS - 41       6.25      26.0      246.0      272.0
Inc6        IRS - 82       4.71      31.0      153.0      184.0
Inc6       IRS - 102       5.14      24.0      139.0      163.0
Inc6        IRS - 68       2.46      50.0      210.0      260.0
Inc6       IRS - 105       2.33      51.0      101.0      152.0
Inc6       IRS - 114       3.86      29.0       54.0       85.0
Inc6       IRS - 101       4.16      26.0      140.0      166.0
Inc6       IRS - 113       4.63      18.0       61.0       79.0
Inc6       IRS - 105       1.71      44.0        7.0       51.0
Inc6       IC-06-296       2.26      11.0      119.0      130.0
SREP       ED-06-537       9.34       2.0      151.0      160.0
SREP       ED-06-542       9.25       2.0      107.0      109.0
---------------------------------------------------------------
NOTES:
1) All thicknesses are core widths / true widths estimated at 75-90%.
2) All weighted averages calculated using uncut assays.
3) See Table at end of News Release for a complete summary of results.
Work at both Increible 6 and SREP has included drilling designed to expand the currently known mineralized zones as well as in-fill drilling targeted to upgrade the existing resources.

Increible 6 Project

Since November 2006 an additional 150 drill holes totalling more than 25,000 meters have been completed. This drilling has succeeded in expanding the mineralized zones and has confirmed the high grade core at Elisa. The goal of the on-going drilling at Increible 6 will be to continue to expand and upgrade the present resources at the main zones for inclusion in an updated NI 43-101 report. The Company will also complete first pass drilling on numerous additional targets that have been identified. A complete table of results is included with this news release.

San Rafael/El Placer (SREP)

At the SREP Project an additional 74 drill holes totalling more than 15,000 meters have been completed. This drilling has tested recently identified mineralized zones while completing a detailed program of in-fill drilling within the main mineralized ore bodies. The majority of the results for the in-fill work are pending. Results received to date from the new zones are detailed in the table included with this news release. The in-fill drilling will be completed by mid March at which time an updated geological interpretation will be initiated with the results to be included in an updated NI43-101 report.

Drilling at both Increible 6 and SREP has been progressing at a rate which will allow for the completion of the previously announced 220,000 metre drilling program in Q3 2007. Work is currently being completed utilizing three diamond drills and one RC drill at Increible 6 and five diamond drills at SREP.

Scoping Studies

Micon International Limited has been contracted by the Company to complete scoping studies on the Increible 6 and SREP Projects. This work continues to advance with Micon having completed field visits and check sampling as part of their due diligence. The site visit included inspection of Rusoro's Emilia Mill and an underground examination of the mineralized structure at SREP. Additionally a series of engineering consultants visited the Increible 6 and SREP sites and completed initial discussions on the planning and requirements related to the mining and milling infrastructure for each project.

Process Research Associates of Richmond B.C. Canada has been contracted to complete a series of tests designed by Micon. The detailed metallurgical testing will be completed on a total of 15 composite samples (approximately 300 kg) which has been selected to represent the various zones and material types present within the Increible 6 and SREP gold resources. The metallurgical work in progress includes; Bond Ball Mill Work Index, Abrasion, Gravity Tests, Cyanide Leach, Cyanide Destruction, Acid Base Accounting and Mineralogical Work

Diamond drilling was conducted by Major Drilling of Moncton, New Brunswick, Canada and Rotopercusiones S.A. and Core Biel Drilling of Puerto Ordaz, Venezuela. RC drilling was completed by AK Drilling of Peru. 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, 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

Mario Szotlender, President

CONTACT INFORMATION
Tel: 604-682-1545
Fax: 604-682-1514
Toll Free: 1-800-668-0091
Symbol: TSX-V:RML
Email: info@rusoro.com
Website : www.rusoro.com

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


Drilling Results - February 2007
-------------------------------------------------------------------
          Drill
Project    Type       Hole #    Au g/t      m    from      to
-------------------------------------------------------------------
Inc6         RC     IRS - 36      1.38   32.0   229.0   261.0
Inc6         RC     IRS - 41      0.92    6.0   237.0   243.0
Inc6         RC     IRS - 41      6.25   26.0   246.0   272.0
Inc6         RC     IRS - 75      1.51    9.0   144.0   153.0
Inc6         RC     IRS - 75      1.07    8.0   160.0   168.0
Inc6         RC     IRS - 76      0.90   22.0   185.0   207.0
Inc6         RC     IRS - 76      3.17    5.0   214.0   219.0
Inc6         RC     IRS - 78      0.81    9.0   129.0   138.0
Inc6         RC     IRS - 80      2.62    5.0   148.0   153.0  open
Inc6         RC     IRS - 80      5.16    1.0   161.0   162.0
Inc6         RC     IRS - 80      1.10    1.0   166.0   167.0
Inc6         RC     IRS - 82      1.15    2.0   105.0   107.0
Inc6         RC     IRS - 82      4.71   31.0   153.0   184.0  open
Inc6         RC     IRS - 82      1.13    3.0   193.0   196.0
Inc6         RC     IRS - 83      2.42    1.0   169.0   170.0
Inc6         RC     IRS - 83      0.97    4.0   173.0   177.0
Inc6         RC     IRS - 83      2.40   20.0   181.0   201.0
Inc6         RC     IRS - 84      1.28    2.0    61.0    63.0
Inc6         RC     IRS - 84      1.49   15.0    85.0   100.0
Inc6         RC     IRS - 84      1.52   35.0   164.0   199.0  open
Inc6         RC     IRS - 88      2.21    2.0    96.0    98.0
Inc6         RC     IRS - 88      1.01    6.0   106.0   112.0
Inc6         RC     IRS - 88      4.93    9.0   219.0   228.0  open
-------------------------------------------------------------------
Inc6         RC     IRS - 97      1.29    2.0   157.0   159.0
Inc6         RC     IRS - 98      4.92   14.0   146.0   160.0
Inc6         RC    IRS - 100      2.88   19.0   153.0   172.0
Inc6         RC    IRS - 101      4.85   22.0   140.0   162.0
Inc6         RC    IRS - 102      2.36   15.0    20.0    35.0
Inc6         RC    IRS - 102      6.34   19.0   144.0   163.0
Inc6         RC    IRS - 103      0.97    8.0    21.0    29.0
Inc6         RC    IRS - 103      3.09    2.0   116.0   118.0
Inc6         RC    IRS - 103      0.92    3.0   120.0   123.0
Inc6         RC    IRS - 103      1.72   12.0   138.0   150.0
Inc6         RC    IRS - 104      9.53    7.0    39.0    46.0  open
Inc6         RC    IRS - 104      2.09   12.0   127.0   139.0
Inc6         RC    IRS - 104      1.16    9.0   143.0   152.0
Inc6         RC    IRS - 105      1.39   15.0     7.0    22.0
Inc6         RC    IRS - 105      2.87   19.0    32.0    51.0


-------------------------------------------------------------------
          Drill
Project    Type       Hole #    Au g/t      m    from      to
-------------------------------------------------------------------
Inc6         RC    IRS - 105      2.33   51.0   101.0   152.0
Inc6         RC    IRS - 106      1.85   11.0    19.0    30.0  open
Inc6         RC    IRS - 106      1.42   10.0    45.0    55.0
Inc6         RC    IRS - 106      2.44    7.0   101.0   108.0
Inc6         RC    IRS - 107       RE-   RUNS
Inc6         RC    IRS - 108      3.20    2.0    60.0    62.0
Inc6         RC    IRS - 109      1.75    6.0    40.0    46.0
Inc6         RC    IRS - 110      1.99   23.0    56.0    79.0
Inc6         RC    IRS - 111      3.41   15.0    41.0    56.0
Inc6         RC    IRS - 111      1.96    2.0    75.0    77.0
Inc6         RC    IRS - 111      5.33    7.0    87.0    94.0
Inc6         RC    IRS - 111      1.12    6.0    97.0   103.0
Inc6         RC    IRS - 112      2.45   17.0    57.0    74.0
Inc6         RC    IRS - 112      2.00   10.0    95.0   105.0
Inc6         RC    IRS - 113      4.63   18.0    61.0    79.0
Inc6         RC    IRS - 113      0.67    4.0    82.0    86.0
Inc6         RC    IRS - 113      3.99    5.0   100.0   105.0
Inc6         RC    IRS - 114      1.26    2.0    54.0    56.0
Inc6         RC    IRS - 114      0.69    6.0    59.0    65.0
Inc6         RC    IRS - 114      7.02   16.0    69.0    85.0
Inc6         RC    IRS - 115      2.71    2.0    77.0    79.0
Inc6         RC    IRS - 115      1.34    2.0    85.0    87.0
Inc6         RC    IRS - 116      1.04    8.0   113.0   121.0
Inc6         RC    IRS - 117      1.17    2.0   121.0   123.0
-------------------------------------------------------------------
                         avg      2.44   10.6


-------------------------------------------------------------------
          Drill
Project    Type       Hole #    Au g/t      m    from      to
-------------------------------------------------------------------
Inc6        DDH    IC-06-296      2.26   11.0   119.0   130.0
Inc6        DDH    IC-06-297      0.73    7.0    69.0    76.0  open
Inc6        DDH    IC-06-297      1.17   15.0   102.0   117.0
Inc6        DDH    IC-06-298      2.66    4.0    87.0    91.0
Inc6        DDH    IC-06-299      1.06   26.0   141.5   167.5
Inc6        DDH    IC-06-301      3.23    3.0   100.0   103.0  open
Inc6        DDH    IC-06-301      1.76   10.0   167.0   177.0
Inc6        DDH    IC-06-302      1.25    5.5    61.0    66.5
Inc6        DDH    IC-06-303      0.49   31.1    58.8    89.8  open
Inc6        DDH    IC-06-303      0.84   27.1   103.2   130.3
Inc6        DDH    IC-06-304      0.85    5.0    35.0    40.0
Inc6        DDH    IC-06-305      0.53   16.5    51.0    67.5  open
Inc6        DDH    IC-06-305      0.58   22.0    94.0   116.0  open
Inc6        DDH    IC-06-305      0.51    4.0   157.0   161.0  open
Inc6        DDH    IC-06-305      0.48    6.0   170.0   176.0  open
Inc6        DDH    IC-06-305      0.51    6.0   194.0   200.0
Inc6        DDH    IC-06-306      0.66   29.0   142.0   171.0  open
Inc6        DDH    IC-06-307      0.48   27.0    33.0    60.0  open
Inc6        DDH    IC-06-307      0.64   16.0   186.0   202.0  open
Inc6        DDH    IC-06-307      0.65   11.0   212.0   223.0
-------------------------------------------------------------------
                         avg      1.07   14.1


-------------------------------------------------------------------
          Drill
Project    Type       Hole #    Au g/t      m    from      to
-------------------------------------------------------------------
SREP        DDH    ED-06-533      1.95    2.0   181.0   183.0
SREP        DDH    ED-06-534      1.72   11.0   205.0   216.0
SREP        DDH    ED-06-534      0.72    2.0   221.0   223.0
SREP        DDH    ED-06-535      0.89    4.0   181.0   185.0
SREP        DDH    ED-06-536      1.08    4.0   128.0   132.0
SREP        DDH    ED-06-537      9.34    2.0   151.0   153.0
SREP        DDH    ED-06-537      0.67    3.0   157.0   160.0
SREP        DDH    ED-06-540      2.68    2.0   173.0   175.0
SREP        DDH    ED-06-542      2.15    3.0    82.0    84.0
SREP        DDH    ED-06-542      0.66    4.0    99.0   103.0
SREP        DDH    ED-06-542      9.25    2.0   107.0   109.0
SREP        DDH    ED-06-545      2.85    3.0   275.0   278.0
SREP        DDH    ED-06-545      3.42    2.0   286.0   288.0
SREP        DDH    ED-06-571      0.56   28.5     0.0    28.5
SREP        DDH    ED-06-571      0.70   14.0    69.0    83.0
SREP        DDH    ED-06-571      0.51    8.0    90.0    98.0
SREP        DDH    ED-06-571      0.68   20.0   270.0   290.0
SREP        DDH    ED-06-571      3.01    2.0   326.0   328.0
SREP        DDH    ED-06-572      4.20    2.0   123.0   125.0
SREP        DDH    ED-06-572      1.74    5.0   147.0   152.0
SREP        DDH    ED-06-574      2.42    5.0   167.0   172.0
SREP        DDH    ED-06-574      1.09    6.0   202.0   208.0
SREP        DDH    ED-06-574      1.14   36.0   234.0   270.0
SREP        DDH    ED-06-574      0.86    6.0   297.0   303.0
SREP        DDH    ED-06-576      2.00    3.0   147.0   150.0
SREP        DDH    ED-06-576      1.99    8.0   157.0   165.0
SREP        DDH    ED-06-576      1.63    2.0   173.0   175.0
SREP        DDH    ED-06-576      0.82   11.0   187.0   198.0
-------------------------------------------------------------------
                         avg      2.17    7.2

NOTES:
1) All thicknesses are core widths / true widths estimated at 75-90%.
2) All weighted averages calculated using uncut assays.
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