Rusoro Mining Ltd. Announces Additional Warrant Issuance

VANCOUVER, June 7, 2023 - Rusoro Mining Ltd. (TSXV: RML) (the "Company" or "Rusoro") Further to the Company's news release of April 4, 2023 announcing the closing of a non-brokered private placement of unsecured, non-interest bearing, promissory notes (the "Notes") for an aggregate consideration of US$2,055,000, the Company has issued an additional 3,132,500 non-transferable share purchase warrants (the "Warrants") to the Note subscribers entitling them to purchase an aggregate of 3,132,500 common shares at a price of US$0.10 per common share on or before April 4, 2028. If the Notes are repaid at any time during the term of the Warrants, the expiry date of the Warrants will be accelerated to a date that is thirty days from the date of repayment. Common Shares acquired on exercise of the Warrants will be subject to a four month hold period expiring on October 8, 2023.

ON BEHALF OF THE BOARD

"Andre Agapov"
Andre Agapov, President & CEO

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.

Forward-looking statements:

"This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Rusoro in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Rusoro's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Rusoro disclaims any obligation to update or revise any forward-looking information or statements except as may be required."

SOURCE Rusoro Mining Ltd.