Zoloto Announces Update on 2008 Year-End Financials

VANCOUVER, Dec. 8 /CNW/ - Zoloto Resources Ltd. ("Zoloto" or the "Company") (TSX Venture: ZR) announces today that it continues to make progress towards the completion of its annual consolidated financial statements and related audit for the Company's financial year ended December 31, 2008 and December 31, 2009. Financial statements for 2008 and 2009 will be posted in the new year.

About Zoloto Resources

Zoloto is a gold exploration company whose primary focus is to become a mid-tier gold producer through the advancement of its gold exploration properties in the Russian Federation. In addition, Zoloto's management will continue to evaluate acquisition opportunities within the Russian Federation. Zoloto's philosophy is to unlock shareholder value in a socially and environmentally responsible manner.

Robert Maddigan
President, CEO

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, the timing of completion of the Company's annual audit, the expected time for filing Financial Statements, MD&A and the Certificates. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Bart Lawrence/Yana Bobrovskaya
Investor Relations
Zoloto Resources Ltd.
Phone: [phone]
Fax: [phone]