Venezuelan Assets

Gold Reserve Ltd. clarified that Amber Energy’s bid in Venezuelan asset legal proceedings does *not* include a $500 million cash payment to Gold Reserve, contrary to recent speculation. The offer proposes only a 15% recovery on a potential $500 million claim, subject to court and company approvals. Gold Reserve emphasized that any suggestion of a $500 million cash payment is misleading. The company cautioned investors regarding forward-looking statements and uncertainties impacting potential outcomes. This clarification highlights the importance of scrutinizing details in complex financial proposals.