Mr. Dave Onzay reports

GOLD RESERVE REPORTS ON RESULTS OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

At the annual general meeting of shareholders of Gold Reserve Ltd. held Nov. 5, 2026, Paul Rivett, James Michael Johnston, Yves M. Gagnon, James P. Tunkey, William DeSilva and Jonathan Howes were elected to the board of directors of Gold Reserve to hold office until the next annual meeting of shareholders or until their successors are elected or appointed or their office is otherwise vacated. George Thomas did not stand for re-election to the board. The company thanks Mr. Thomas for his dedicated service and wishes him the best in his future endeavours.

In addition to the foregoing, the shareholders approved the following matters at the meeting:

1. The name change of the company from Gold Reserve Ltd. to American Heralds Resources Ltd.;
2. The plan maximum resolution (as defined in and described in detail in the management information circular of the company in connection with the meeting dated as of Sept. 21, 2026, available under the company's profile on SEDAR+), authorizing the increase in the maximum number of common shares of the company issuable under the company's 2012 equity incentive plan from 14,932,307 to 22,180,354, subject to the other terms and conditions of the plan;
3. The award and cashless exercise resolution as defined in the circular, authorizing the amendment of the plan to permit the board to grant restricted share units and restricted shares, and to permit the cashless and net exercise of stock options, subject to the terms and conditions of the plan; and
4. The appointment of CBIZ CPAs PC as the independent auditor of the company until the close of the next annual general meeting and the authorization of the board to fix such auditor's remuneration.

In addition, at the meeting, the audited consolidated financial statements of the company for the year ended Dec. 31, 2025, were duly laid before the shareholders. Following the meeting, the board resolved that, despite the approval of the plan maximum resolution, it would not issue more than three million incentive awards under the plan during the period commencing Nov. 5, 2026, and ending on the date of the next annual general meeting of shareholders.

The name change remains subject to final approvals, including approval of the TSX Venture Exchange.

About Gold Reserve Ltd.

Gold Reserve is a primarily United States-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 and the Bermuda Stock Exchange, and trades in the United States on the OTCQX.

We seek Safe Harbor.