Rusoro Announces Closing of the Restructuring of its Senior Secured Exchangeable Loan and Payment of $20 Million Principal and Interest

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/11/10 -- Rusoro Mining Ltd. ('Rusoro') (TSX VENTURE: RML) is pleased to announce that on June 10, 2010 ('Closing Date') it successfully closed the restructuring of its outstanding senior secured exchangeable loan which was due to mature on June 10, 2010 (the 'Loan') and has entered into a definitive Amendment and Restatement Agreement relating to the Loan with Petropavlovsk PLC (formerly Peter Hambro Mining PLC) as lender and agent in respect of the Loan and the other lenders. All amounts in this news release are in United States dollars unless otherwise stated.

The syndicate of lenders includes Petropavlovsk PLC, Lansdowne U.K. Equity Fund Limited, Lansdowne U.K. Equity Fund L.P., Lansdowne U.K. Strategic Investment Master Fund Limited, Endeavour Financial Corporation (formerly Endeavour Mining Capital Corp.), and BlackRock Natural Resources Hedge Fund Limited (collectively, the 'Lenders').

As required in the Amendment and Restatement Agreement, Rusoro made the first principal payment of $17 million to the Lenders on June 10, 2010, together with all accrued but unpaid interest on the Loan to that date, which totaled $3 million. The Amendment and Restatement Agreement further provides, among other things, that:

1.  Rusoro will make a second principal payment of $13 million to the
Lenders by no later than July 10, 2010, together with all interest
accrued from June 10, 2010 to July 10, 2010 on such amount, at the rate
of 10% per annum;
2.  Rusoro will make a final principal payment of $30 million (the 'Reduced
Principal') by no later than June 10, 2011;
3.  The Reduced Principal will carry interest at the rate of 10% per annum,
which will be payable in equal installments on September 10, 2010,
December 10, 2010, March 10, 2011 and June 10, 2011;
4.  The Loan exchange price in respect of the Reduced Principal will be
adjusted from C$1.07 to C$0.40 per Rusoro common share (subject to
certain anti-dilution adjustments) effective as from June 10, 2010; and
5.  On or before June 15, 2010, Rusoro will issue to the Lenders warrants to
purchase 30 million Rusoro common shares at an exercise price of C$0.40
per share, which will be allocated to the Lenders based upon their pro
rata percentage of the Reduced Principal, and will be exercisable until
January 10, 2012.

ON BEHALF OF THE BOARD

Andre Agapov, Chief Executive Officer and President

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.

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

Contacts:

Rusoro Mining Limited

604-632-4044 or Toll Free 1 800-668-0091

604-632-4045 (FAX)
info@rusoro.com
www.rusoro.com