Keywords : Debt | Gold | Gold Producer |


Dear 24hGold,	January 16, 2009

Zoloto Resources Announces The Restructuring Of Irkutsk Debt Zoloto Resources Ltd. ("Zoloto" or the "Company") (TSX Venture: ZR) announces that it is restructuring its outstanding debt held by its subsidiary M.L. Ltd ("ML"), Zoloto's Irkutsk operating company. ML is in the process of paying down its current debt with contractors, labour and suppliers with funds advanced to it pursuant to loan agreements with GV Gold Ltd ("GV Gold") for an aggregate amount of RUB 47 million (currently, approximately C$1.8 million). GV Gold is a private Russian gold producer active in the Irkutsk and Yakutsk regions. The loans mature 90 days following each respective advance and bear interest at a rate of MosPrime+6%. The loans are guaranteed by Zoloto and are secured against Zoloto's Baikal Gold and Chukot Gold subsidiaries that own Zoloto's principal Russian Gold Exploration projects. The loans include the RUB 20 million (currently, approximately C$800,000) advanced to ML to pay outstanding labour and other short-term liabilities, as described in the Company's Management's Discussion & Analysis for the nine months ended September 30, 2008 (which is available under the Company's profile on SEDAR at www.sedar.com). About Zoloto Resources Zoloto is a gold exploration company whose primary focus is to become a mid-tier gold producer through the advancement of its gold exploration properties in the Russian Federation. In addition, Zoloto's management will continue to evaluate acquisition opportunities within the Russian Federation. Zoloto's philosophy is to unlock shareholder value in a socially and environmentally responsible manner. Tim Petterson President For more information please contact: Alan Tenenbaum/Yana Bobrovskaya Investor Relations Zoloto Resource Ltd. Phone: (604) 608-0223 Fax: (604) 608-0344 The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Copyright � 2007 Zoloto Resources http://www.zolotoresources.com/

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Zoloto Resources Ltd.

	EXPLORATION STAGE
	CODE : ZR.V

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Zoloto is a copper and nickel exploration company based in Canada.

Zoloto holds various exploration projects in Russia.

Its main exploration properties are ELVENEI, YKANSKOYE, KENKEREN, TUMMANOYE and OZHERELIE in Russia.

Zoloto is listed in Canada and in Germany. Its market capitalisation is CA$ 4.3 millions as of today (US$ 4.3 millions, € 3.2 millions).

Its stock quote reached its highest recent level on May 04, 2009 at CA$ 0.03, and its lowest recent point on May 04, 2009 at CA$ 0.03.

Zoloto has 143 833 000 shares outstanding.

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Zoloto Resources Ltd.

The Restructuring Of Irkutsk Debt

Zoloto Resources Ltd.