Mr. Rockne Timm reports

U.S. THIRD CIRCUIT COURT OF APPEALS AFFIRMS PREVIOUSLY ANNOUNCED DISTRICT COURT ORDER GRANTED TO GOLD RESERVE AND OTHERS

Gold Reserve Inc. has noted that on July 7, 2023, the United States Court of Appeals for the Third Circuit issued a judgment affirming the orders of the United States District Court for the district of Delaware (the Delaware court) issued on March 23, 2023, and March 31, 2023 (see Gold Reserve's press releases dated April 4, 2023, and May 3, 2023).

Rockne J. Timm, chief executive officer, stated: "The ruling by the Third Circuit is welcome but, at the same time, and subject to applicable sanctions laws in the U.S. and Canada, we are open to resolving amicably all of our pending issues with Venezuela. This includes, but is not limited to, our $996-million (U.S.) judgment (inclusive of interest) that is the subject of the company's litigation in Delaware, but also the recovery of our Bandes Trust funds and the more recent expropriation of the Siembra Minera mining rights."

We seek Safe Harbor.