Rusoro Gives Update on New Gold Industry Law

September 22, 2011                                                                        Trading Symbol (TSX-V): RML

Vancouver, Canada - Rusoro Mining Ltd. ("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 Ram�rez, President of the Venezuela State owned oil

company PDVSA and Minister of Energy and Petroleum of Venezuela.

Mr. Ram�rez was informed of the Company's listing on TSX Venture Exchange and the importance

for the company to protect shareholder value.

Mr. Ram�rez 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. Ram�rez 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

    "Andre Agapov"

Andre Agapov, President & CEO

Forward-looking statements: 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."