Rusoro Mining has secured the dismissal of five out of six claims brought by Gold Reserve in the Chancery Court, narrowing the scope of ongoing legal disputes between the parties.

The court threw out the majority of the claims following recent proceedings, leaving a single surviving claim intact. Rusoro is taking the ruling under advisement and maintains that the remaining claim survived strictly on legal, rather than factual, grounds. The company contends that this final claim is equally meritless and anticipates it will fail once the relevant facts are put before the court.

The legal proceedings follow Rusoro's previous securing of an international arbitration award against the Republic of Venezuela arising from the expropriation of the company's gold mining assets. Those enforcement efforts have run parallel to wider U.S. court actions, including an order issued by the U.S. District Court for the District of Delaware authorizing the sale of shares of PDV Holding, Inc., the indirect owner of Citgo Petroleum Corp., to satisfy judgments against Venezuela.

The surviving claim against Rusoro is subject to further proceedings and the presentation of relevant facts in the Chancery Court.

Read the full announcement: Rusoro Updates Gold Reserve Action with 5 of 6 Claims Thrown Out