Ms. Kathryn Houlden reports

GOLD RESERVE ADVISES OF CONFERENCE CALL TO DISCUSS US$7.382 BILLION CITGO BID

Gold Reserve Ltd. is scheduling a conference call to be held at 10 a.m. EDT on Thursday, July 10, 2025, to provide more detail on the $7,382-million (U.S.) bid of its U.S. acquisition subsidiary, Dalinar Energy Corp., chosen as the final recommended bidder for the purchase of shares of PDV Holding Inc., the indirect parent company of Citgo Petroleum Corp.

This call is open to all interested parties and can be accessed through the following.

Dial-ins:  1-689-278-1000 or 1-719-359-4580

Zoom meeting ID:  824 4097 7423

A recording of the call will be available on the company's website immediately following the call until July 25, 2025, for those unable to attend.

On July 3, 2025, the company announced that the notice of final recommendation filed by the special master appointed by the U.S. District Court for the District of Delaware, which is overseeing the sale process, recommended Dalinar as the final recommended bidder. The July 3, 2025, outlined the general terms of the bid, but the company wanted to have a call to provide an opportunity to review the terms of the bid in more detail and answer questions.

Gold Reserve will continue to provide periodic updates regarding the sale process as additional information becomes available.

We seek Safe Harbor.