Mr. Dave Onzay reports

GOLD RESERVE NOTES ISSUANCE OF OFAC GENERAL LICENSE 51 RELATED TO VENEZUELAN-ORIGIN GOLD

Gold Reserve Ltd. today noted the issuance by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) of general licence 51 (GL 51), which authorizes certain transactions involving Venezuelan-origin gold under specified conditions.

GL 51 authorizes transactions that are ordinarily incident and necessary to the exportation, sale, supply, storage, purchase, delivery or transportation of Venezuelan-origin gold for importation into the United States, the refining of such gold in the U.S., and the resale or exportation of such gold from the U.S., provided that such activities are conducted by an established U.S. entity. The licence includes customary compliance requirements, including the use of designated accounts for payments and proceeds and remains subject to all applicable U.S. sanctions regulations and reporting obligations.

Gold Reserve is reviewing the terms of GL 51 and will continue to monitor regulatory developments relating to U.S. sanctions and potential frameworks that could support responsible and compliant engagement in the Venezuelan mining sector.

About Gold Reserve Ltd.

Gold Reserve is a primarily U.S.-owned mineral exploration and development company focused on advancing high-quality mineral assets with the objective of creating sustainable long-term value for shareholders. The company is listed on the TSX Venture Exchange (symbol GRZ) and the Bermuda Stock Exchange (symbol GRZ.BH), and trades in the United States on the OTCQX (symbol GDRZF).

We seek Safe Harbor.