All amounts set out in the Company's financial statements and MD&A are audited and in United States dollars, unless otherwise stated.

The following is a synopsis of the year ended December 31, 2008 and related information. For detailed information regarding Rusoro's 2008 year-end, please refer to the Audited Financials Statements and the MD&A which have been filed on SEDAR at www.sedar.com and can be found on the Company's website at www.rusoro.com.

During 2008 the Company's highlights were:

- Acquired a 50% interest in the Isidora Mine and various exploration properties from Hecla Mining Company ("Hecla") (and all together the "Hecla-Venezuela Acquisition").

- Created a mixed enterprise, 50% owned by the Company and 50% owned by the Venezuelan government (the "Mixed Enterprise") to jointly operate the Isidora Mine and other exploration properties acquired from Hecla.

- Marked its first full year as a gold producer, with 99,663 ounces produced (2007: 9,433 ounces). Based on the Company's evaluation of the accounting treatment of the Hecla-Venezuela Acquisition and the commitment agreement entered into with the Ministry of Mines and Basic Industries of Venezuela for the creation of the Mixed Enterprise, the Company proportionately consolidated 50% of the results of the Isidora Mine from December 23, 2008 to December 31, 2008. Had the Company consolidated 100% of the results of the Isidora Mine from the date of the Hecla-Venezuela Acquisition on July 4, 2008, the combined production of the Company for 2008 would have been 115,789 ounces of gold and for the fourth quarter of 2008 would have been 38,868 ounces of gold.

- Completed an $80 million syndicate financing led by Peter Hambro Mining Plc.

- Settled with the Venezuelan government the dispute over the government's ownership interest in the Choco Mine, to a final 5% indilutable ownership interest, held by the government.

- Advanced construction of the Alvarez underground ramp which will provide access to main mineralized areas in the contiguous San Rafael and El Placer concessions.

Subsequent to year end, the highlights were:

- On March 19, 2009 the Company completed an equity financing by way of short-form prospectus. As a result the Company issued 133,334,000 common shares at C$0.60 per common share for gross proceeds of C$80,000,400.