Paris Court of Appeals Decision on Award

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W e b s i t e : w w w . r u s o r o . c o m

January 30, 2019 Trading symbol (TSX-V): RML

Paris Court of Appeals Decision on Award

Vancouver, Canada – Rusoro Mining Ltd. (the "Company" or "Rusoro") announces that, in a decision

dated 29 January 2019 (the "French Court Decision"), the Paris Court of Appeals partially annulled the arbitral

award (the "Award") issued in favour of the Company in August 2016 by a tribunal constituted pursuant to the

Canada-Venezuela bilateral investment treaty (the "Treaty") and the rules of the Additional Facility of the

International Centre for Settlement of Investment Disputes. Whilst the Paris Court of Appeals upheld the

tribunal’s finding on the merits that Venezuela is liable for the unlawful expropriation of Rusoro’s investments,

it annulled the Award’s finding on damages. The French Court Decision does not seek to determine the damages

that Venezuela must pay to Rusoro for its breach of the Treaty.

Rusoro intends to vigorously pursue all available remedies to reinstate the Award’s finding on damages in full

or otherwise obtain fair compensation for the unlawful expropriation of its investments in Venezuela, including

the appeal of the French Court Decision before the French Supreme Court and (if necessary) the resubmission

of the case to arbitration to re-determine the amount of damages owed to Rusoro.

Rusoro confirms that the French Court Decision does not impact Venezuela’s obligation to pay Rusoro at least

US$100 million as part ial payment for the expropriated investments under the Agreement executed between

them in October 2018.

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 document contains statements about expected or anticipated future eve nts and financial results that are forward -looking in

nature and as a result, are subject to certain risks and uncertainties, such as timing and results of an appeal with the French

Supreme Court, timing and amount of settlement payments, 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.