Company Information for Rusina Mining NL

ASX-RML; AIM-RMLA

www.rusina.com.au

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ASX; RML

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AIM; RMLA

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Company Statement

Rusina Mining N.L. is an active mining exploration company that is focused on the emerging Philippine mining sector. The Company has defined a JORC compliant resource estimate for nickel laterites at its Acoje tenement on the island of Luzon and will commence mining operations in the second half of 2007. The Acoje property also hosts chromite, nickel sulphides and platinum group metals. Rusina is listed on the Australian Stock Exchange, code RML and the London Stock Exchange (AIM) code RMLA.

Current Operations

Acoje - Philippines
The Acoje mine was one of the world's largest metallurgical chromite suppliers producing over 3.3 million tonnes of chromium concentrate from 1935 to 1991. Early in the mines history distinctive black dunite horizons were located several hundred metres east of the extensive and thick chromite zones. Sampling confirmed that the black dunite contained appreciable quantities of nickel sulphides, PGMs (platinum, palladium, rhodium, ruthenium, osmium and iridium), copper, gold, cobalt and chromite. High nickel prices in the late 1960's prompted surface and underground exploration, mine development and the establishment of a sulphide concentrate plant. Mining took place from 1971 to 1975 with nickel concentrate, containing platinum and palladium (Pt+Pd), sold to Japan for smelting.

Rusina became involved with the Acoje project in 2004. During 2004 and 2005 the Company undertook significant drilling programs seeking an economic platinum resource. During the latter part of 2005 and in early 2006 the Chromite ore was the subject of evaluation, which lead to the commencement of a chromite feasibility study which is continuing to date. In mid 2006 the Company began a series of test pitting operations to determine the extent of nickel and chromite laterites on the tenement.

Nickel Laterite Resource
In February 2007 the company announced the first resource estimate for the limonite zone of its nickel laterite deposit. The combined indicated and inferred JORC compliant resource estimate was 33.15 million tonnes grading 0.95% nickel and 0.07% cobalt representing 315,000 tonnes of contained nickel. The resource estimate was independently reviewed by SRK Consultants, Perth. The resource estimate was based on 1,265 manually excavated test pits, of which 326 (26%) terminated in nickel grades of greater than 1.2%. The test pitting was only partially successful in penetrating into the harder saprolite zone of the laterite and the JORC resource estimate does not take into consideration any results from the saprolite zone.

Later in February the Company released the results of a pit deepening program that had commenced into the harder saprolite zone. Many of the pits were not able to penetrate to the bottom of the saprolite zone which did not allow a resource estimate to be undertaken.

Results of assays included 3.2m @ 2.94% Ni and 4.5m @ 2.71% Ni. A maximum assay of 3.3% Ni was recorded and the maximum intersection was 9.1m @ 1.85% Ni.

The Company is presently undertaking a saprolite drilling program designed to obtain a resource estimate on the saprolite zone of the laterite.

Abogado Project - Philippines
The Abogado Project was previously explored by Phelps Dodge for porphyry copper and gold from 1998 to 2000 after which they withdrew from the Philippines for various reasons. The property became available for filing in late 2006, in which Rusina successfully pegged this property.

Abogado prospect is a gold,copper, zinc mineralisation possibly peripheral to a large deep seated porphyry copper mineralisation. Previous exploration conducted 15 drill holes (2895m) with reported intercepts 8m @ 2.8g/t Au and 40.2g/t Ag drilled into a breccia hydrothermal pipe, and a 48.5m @ 0.23% Cu and 0.78 g/t Au into a pyrite-magnetite-chalcopyrite-sphalerite mineralisation.

Sodaco Project – Philippines
On May 9th 2007, the Company announced that it had entered an agreement with DMCI Holdings Inc that amongst others, stated that DMCI (60%) and Rusina (40%) were to form a Mining Joint Venture Company where all Rusina’s and DMCI’s non Zambales properties would be vended into the yet to be formed subsidiary. These properties include Rusina’s Abogado properties EXPA-00068-XII and EXPA-00074-XII and DMCI’s Mineral Production Sharing Agreement (MPSA) MPSA-000166-XII in Sultan Kudarat (Figure2) and the Sodaco Agricultural Corporation, a fully owned subsidiary of DMCI, MPSA application APSA-00008-XI located at South Cotabato (Figure 1).

The Sodaco property is located inside the Xstrata 62.5% Indophil 32.5% Alsons 5% Tampakan FTAA-002-95-X1. The property was originally under agreement with Western Mining Corporation in 1994 but was handed back to the DMCI controlled entity in 1999 when WMC withdrew from the Philippines. Since that time DMCI and Indophil have been in discussions over the property, however no agreement has yet been reached.

The Sodaco property is located in very close proximity (900m) to the Tampakan deposit. The Tampakan deposit is part of a very large system controlled by large regional structures. The host rocks and controlling structures extend onto the Sodaco property. Wide zones of silification are developed at Sodaco in association with numerous high level dioritic intrusives known to be associated with the Tampakan deposit.

Rusina will now work to manage the process to approve the current MPSA application and together with DMCI evaluate the numerous options available to progress this valuable property.

Geographical Spread

Philippines and Australia.

Board of Directors and Key Management

Robert Gregory	(Chief Executive Office/Managing Director)
Gordon Getley	(Non-Executive Director/Chairperson)
Philip Fillis	(Non-Executive Director)
Antony Butler	(Non-Executive Director)
Timothy Marcus Stephen (Mark) Hanlon	(Chief Financial Officer & Company Secretary)

Company Address

Level 1
83 Havelock Street
West Perth, WA, Australia, Australia 6005


Telephone:	+61 8 9226 1111
Facsimile:	+61 8 9226 1011
Email:	rusinaadmin[at]rusina.com.au
Website:	http://www.rusina.com.au

Annual General Meeting

November

Year End

30 June

Nominated Brokers

Mirabaud Securities Limited
21 St. James’s Square,
London, SW1Y 4JP

Nominated Advisors

Beaumont Cornish Limited
5th Floor,
10-12 Copthall Avenue,
London, EC2R 7DE

Broker/Analyst Reports

05/07/07 - Mirabaud Securities Limited

Major Shareholders

Vladimir Nikolaenko	14,367,636
City Natural Resources High Yield Trust	15,000,000
HSBC Custody Nominees (Australia) Limited	11,259,947

Most Recent Statement

21/11/08 - Drilling and Shipping Update
31/10/08 - Director/PDMR Shareholding
23/10/08 - Annual Report 2008
30/09/08 - 2008 Annual Report Released
15/09/08 - Operational Update
12/08/08 - Directors' Dealings

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