Operational Update

RNS Number : 4084D
Rusina Mining NL
15 September 2008

FOR IMMEDIATE RELEASE 15 September 2008

RUSINA MINING NL
("Rusina" or the "Company")
Operational Update

Barlo Project
Further to the announcement on 9 April 2008, Rusina Mining NL (the 'Company') is pleased to announce that it has now completed the
acquisition of the Barlo exploration tenement (EXPA 005-01-I) from the administrators of Fire Resources Limited.

The Barlo Project is situated approximately 30km due north of the Company's Acoje Project near the township of Dasol on the island of
Luzon, the Philippines. The project has an approved exploration permit covering 4,371 ha. The Barlo property is a volcanic hosted sulphide
project representing sea floor "black smokers" similar to Woodlawn (NSW), Golden Grove (WA) and Rosebury (Tas).

The Acoje Mining Company operated the Barlo mine between 1974 and 1991 using underground and open pit mining methods. The mine is
understood to have produced approximately 3 million tonnes of ore grading on average 1.5% Cu and 1.0% Zn. The mine was initially operated as
an underground mine that produced approximately 55,000 tonnes of hand-sorted high grade copper ore estimated to exceed 10.0% Cu from the
upper supergene mineralised zone of the ore body. The mine closed in 1981 due to low copper prices and other management issues.

Rusina, through its Philippine subsidiaries, will initially focus its exploration effort on the primary mineralisation below the old
mine workings which, based on historical reports, remains open down dip. In addition, previous exploration work carried out on the tenement
has identified some high priority targets at the Happy Valley and Viga prospects.
The Happy Valley prospect is some 2 to 4 km south of the old Barlo mine which is considered to be prospective for additional zones of
massive sulphide mineralisation thought to cover the south-eastern extensions of the Barlo mine stratigraphy and associated structures.
Elevated gold, silver and base metal values were reported from stream sediment samples taken during early 2006 with subsequent geological
mapping of the area identifying a number of gossans and widespread disseminated sulphide (pyrite) alteration.
The Viga prospect, located in the south-west corner of the tenement 4 to 5km from old Barlo mine, is proximal to historical shafts
accessing a similar stratigraphic horizon to the old Barlo mine. Rock chip and channel samples from surface and underground spoil piles
returned a number of encouraging copper and gold results, indicating the potential for copper-gold massive sulphide mineralisation.
In addition to the copper and gold potential of the area, the company believes the acquisition of this property is particularly
strategic due to reported massive pyrites grading greater than 20% that could provide sulphuric acid for the Acoje nickel project proposed
heap leach operations. A pyrite concentrate was previously produced by the Acoje Mining Company at Barlo and sold to local Philippine
fertilizer companies.
Direct Shipping Operations
As advised in the June 2008 Quarterly report, the DSO market has greatly contracted during this quarter due to the shutdown of furnaces
during the Olympics and is expected to improve in the October quarter. DMCI have confirmed their revised shipping forecast of less than
100,000 tonnes of ore this quarter and improved volumes in the October Quarter.
DMCI have also advised that a trial shipment of chromite ore has recently been shipped at very competitive prices. DMCI have requested
their pricing structure for the ore remains confidential for commercial reasons.

Acoje Drilling Program
The current 1500m Acoje drill program is 71% completed. The scope of the program has slightly altered due to modified priorities and
external circumstances. An urgent external request for very specific quarry material necessitated some geotechnical holes to be undertaken.
In addition recent and increased interest in the chromite sector also resulted in some of the program being targeted towards the near
surface and underground chromite resources.
To date, 9 holes for a total of 1070m, have been completed. Four holes (641m) targeted separate PGM IP anomalies. As discussed in the
June Quarterly, these holes were a technical success, as they all intersected the altered black dunite which hosts the mineralisation albeit
the PGM and Ni results were sub economic.
It is encouraging that the IP survey process works well in locating the smaller black dunite host rock within the larger green dunite
corridor. The economic PGM mineralised zones within the black dunite however are much smaller and considerable additional drilling within
the black dunite would be required if new economic loads are to be found. This intensive drilling is outside the scope of this current
program which is to follow up the IP anomalies. The Company is open to third party participation in this intensive drilling in the near term
or will undertake this program ourselves when cash flow allows.
Apart from the PGM work and the two geotechnical holes paid for by a third party, the other priority of the program has been targeting
the chromite mineralisation. Three near surface loads not previously drilled were tested for extensions beneath their outcrops, and a deep
(320m) hole has been targeted to intersect historic underground drilling beneath the old workings. This hole may assist bringing the large
quantity of historic underground diamond drilling to a JORC reportable status. It should be noted that several more holes may be required
before any JORC classification could occur and there is no guarantee that a classification as Resource or Reserve will occur in accordance
with JORC requirements. The Company is in discussions with several parties to develop the underground Chromite and PGM exploration.

Nickel Heap Leach Study
The Company has been advised that the Pre Feasibility Study being undertaken by partner European Nickel PLC ('EN') for the proposed
nickel laterite heap leach project has been delayed for a few weeks while the final consultant reports are received and compiled.
A separate announcement will be released to the market once the PFS has been received.

A full copy of the Rusina 'Operational Update' announcement as released on the ASX can be viewed as an attachment to this announcement:
http://www.rns-pdf.londonstockexchange.com/rns/4084D_1-2008-9-15.pdf

Contacts:
Mark Hanlon Rusina Mining NL Tel: +61 8 9226 1111
Roland Beaumont Cornish Tel: +44 (0) 207 628
Cornish 3396

This information is provided by RNS
The company news service from the London Stock Exchange

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