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Message: Offer for Gold Reserve Expires

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Offer for Gold Reserve Expires

posted on Feb 18, 09 12:14PM

February 18, 2009

Rusoro Offer for Gold Reserve Expires

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 18, 2009) - Rusoro Mining Ltd. (TSX VENTURE:RML) ("Rusoro" or the "Company") announced that its offer to purchase all of the common shares of Gold Reserve Inc. (TSX:GRZ)(NYSE Alternext US:GRZ) expired today and, because the conditions to its offer were not met, Rusoro will not take up any securities deposited under the offer. All deposited securities will be returned to security holders.

About Rusoro

Rusoro is a junior gold producer with a large land position in the prolific Bolivar State region of Venezuela. The Company operates the Choco 10 and Isidora mines, processing the ore through the Choco 10 mill facility near the town of El Callao.

ON BEHALF OF THE BOARD

George Salamis, President

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