Mr. Andrew Thomson of Soltoro reports

GOLD RESERVE DISCONTINUES OPTION ON SOLTORO'S LA TORTUGA PROJECT

Soltoro Ltd. has been advised by Gold Reserve Inc. that it will not continue with its option to earn in to Soltoro's La Tortuga project. Gold Reserve cited poor market conditions and a need to preserve capital as the main reasons for terminating the option. Gold Reserve was awaiting a drill permit in order to carry out a preliminary drill program.

Andrew Thomson, president and chief executive officer of Soltoro, stated: "We are sorry to see Gold Reserve drop the option on La Tortuga without having carried out a drill program. La Tortuga has excellent potential to host a significant copper/gold deposit with numerous mineralized target areas yet to be drill tested. The company will seek a new partner to advance the project."

We seek Safe Harbor.