| ||Vancouver, Canada -- Rusoro Mining Ltd. (the "Company" or "Rusoro") announces that it has engaged King & Spalding LLP, a leading U.S.-based law firm recognized for its expertise in the enforcement of international arbitration awards and experience resolving large international disputes, to lead the Company's effort to enforce its US$1.2 billion award issued on August 22, 2016 by the Arbitration Tribunal operating under the Additional Facility Rules of the World Bank's International Centre for the Settlement of Investment Disputes in the arbitration brought by Rusoro against the Bolivarian Republic of Venezuela. Rusoro also announces that it has engaged a leading international investigations firm to identify Venezuelan government assets that may be seized in aid of the award, which Venezuela has refused to pay voluntarily.|
Andre Agapov, CEO of Rusoro, stated "we are still very much committed to a mutually beneficial resolution of this matter but, our Standstill with Venezuela has expired and we can no longer wait for an acceptable offer."
ON BEHALF OF THE BOARD
Andre Agapov, President & CEO
This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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