Rusoro Granted Default Judgement for US $100 million by Supreme Court of the State of New York

Suite 3123 – 595 Burrard Street

Vancouver, BC V7X 1J1

Tel: 604 - 609 - 6110  Fax: 604 - 609 - 6145

Website: www.rusoro.com

October 6, 2021 Trading symbol (TSX-V): RML

Rusoro Granted Default Judgement for US $100 million by Supreme Court of the State of

New York

Vancouver, Canada -- Rusoro Mining Ltd. (the "Company" or "Rusoro") is pleased to announce that

on September 24, 2021, the Supreme Court of the State of New York granted Rusoro’s motion to enter a

default judgment for US$100 million plus interest in favor of Rusoro against the Bolivarian Republic of

Venezuela (“Venezuela”) for breach of a Settlement Agreement dated O ctober 5, 2018 (with further interest

at the statutory rate of 9% per annum from the date of judgment to the date of payment). Rusoro will take the

necessary steps to enter the order as a judgment, serve it on Venezuela, and vigorously pursue its payment or

enforcement as partial payment for the unlawful expropriation of its investments in Venezuela.

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 def ined 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 events 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 uncertai nties

resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company’s capabi lity 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.