Rusoro Announces Filing Non-binding Indication Of Interest Pursuant To Citgo Bidding Procedures

VANCOUVER, Jan. 23, 2024 - Rusoro Mining Ltd. (TSXV: RML) (the "Company" or "Rusoro") is pleased to advise that it has submitted a Non-Binding Indication of Interest pursuant to the CITGO Bidding Procedures attached as Exhibit 1 to Exhibit A (Sixth Revised Proposed Sale Procedures Order) of the joint status report filed as of October 4, 2022 with the United States District Court for the District of Delaware in Crystallex International Corp. v. Bolivarian Republic of Venezuela, D. Del. C.A. No. 1:17-mc-00151-LPS. The Non-Binding Indication of Interest is not binding and is revocable, and does not require the Company to take any further actions or to submit any final bid. Prior to submitting a final bid, if at all, the Company shall, among other things, obtain all necessary and advisable consents and approvals of its stakeholders.

Andre Agapov, CEO, states "This is one more step in our process to realize on the value of our Arbitration Award and we look forward to the process continuing as planned."

ON BEHALF OF THE BOARD

"Andre Agapov"
Andre Agapov, President & CEO
604-609-6110

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.

"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 Mining Ltd. 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.sedarplus.ca. Rusoro Mining Ltd. disclaims any obligation to update or revise any forward-looking information or statements except as may be required."

SOURCE Rusoro Mining Ltd.