Gold Reserve Supplies Replace on U.S. Authorities’s Assertion of Curiosity Supporting Venezuelan Opposition Authorities in Litigation Relating to Validity of 2020 PDVSA Bonds

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PEMBROKE, Bermuda — Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Firm”) declares that on August 29, 2025, the U.S. Authorities filed a Assertion of Curiosity within the pending New York federal courtroom litigation relating to the validity of the 2020 PDVSA bonds.

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The important thing query within the litigation is whether or not the 2020 PDVSA bonds are invalid beneath Venezuelan regulation and, in that case, the implications of this invalidity. The 2020 PDVSA Bonds have been issued by the Maduro regime in October 2016, however the 2015 Nationwide Meeting of Venezuela has issued a number of resolutions supporting the conclusion that the 2020 bonds are invalid beneath Venezuelan regulation.

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In its Assertion of Curiosity, the U.S. Authorities “affirmed its recognition of, and agency assist for, the 2015 Nationwide Meeting of Venezuela as the federal government of Venezuela,” and said that the “2015 Nationwide Meeting is the one authorities duly elected by the Venezuelan individuals.” Accordingly, the views of the 2015 Nationwide Meeting relating to Venezuelan regulation must be given “respectful consideration” by the New York courtroom. In conclusion, the U.S. Authorities said:

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For the foregoing causes, the US respectfully (1) advises the Court docket of its recognition of and assist for the 2015 Nationwide Meeting as the federal government of Venezuela; (2) urges the Court docket to accord respectful consideration to the Republic’s views as required by Animal Science Merchandise; and (3) takes no place on the authorized points within the events’ pending cross-motions for abstract judgment.

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A duplicate of the Assertion of Curiosity may be discovered right here.

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Cautionary Assertion Relating to Ahead-Trying statements

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This launch comprises “forward-looking statements” inside the that means of relevant U.S. federal securities legal guidelines and “forward-looking data” inside the that means of relevant Canadian provincial and territorial securities legal guidelines and state Gold Reserve’s and its administration’s intentions, hopes, beliefs, expectations or predictions for the long run. Ahead-looking statements are essentially based mostly upon quite a lot of estimates and assumptions that, whereas thought of cheap by administration right now, are inherently topic to vital enterprise, financial and aggressive uncertainties and contingencies. They’re regularly characterised by phrases comparable to

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happen. Ahead-looking statements contained on this press launch embrace, however should not restricted to, statements referring to any bid submitted by the Firm for the acquisition of the PDVH shares (the “Bid”).

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We warning that such forward-looking statements contain identified and unknown dangers, uncertainties and different dangers that will trigger the precise occasions, outcomes or outcomes of Gold Reserve to be materially completely different from our estimated outcomes, outcomes, efficiency, or achievements expressed or implied by these forward-looking statements, together with however not restricted to: the discretion of the Particular Grasp to contemplate the Bid, to enter into any discussions or negotiation with respect thereto; the Particular Grasp might not suggest the Bid within the Ultimate Suggestion; an objection to the Bid could also be upheld by the Court docket; the Bid won’t be authorised by the Court docket because the “Ultimate Advocate Bid” beneath the Bidding Procedures, and if authorised by the Court docket might not shut, together with because of not acquiring needed regulatory approvals, together with however not restricted to any needed approvals from the U.S. Workplace of Overseas Asset Management (“OFAC”), the U.S. Committee on Overseas Funding in the US, the U.S. Federal Commerce Fee or the TSX Enterprise Change; failure of the Firm or every other get together to acquire ample fairness and/or debt financing or any required shareholders approvals for, or fulfill different situations to impact, any transaction ensuing from the Bid; that the Firm might forfeit any money quantity deposit made attributable to failing to finish the Bid or in any other case; that the making of the Bid or any transaction ensuing therefrom might contain surprising prices, liabilities or delays; that, previous to or because of the completion of any transaction contemplated by the Bid, the enterprise of the Firm might expertise vital disruptions attributable to transaction associated uncertainty, business situations, tariff wars or different elements; the flexibility to implement the writ of attachment granted to the Firm; the timing set for numerous reviews and/or different issues with respect to the Sale Course of is probably not met; the flexibility of the Firm to in any other case take part within the Sale Course of (and associated prices related therewith

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; the quantity, if any, of proceeds related to the Sale Course of; the competing claims of different collectors of Venezuela, PDVSA and the Firm, together with any curiosity on such collectors’ judgements and any precedence afforded thereto; uncertainties with respect to potential settlements between Venezuela and different collectors and the affect of any such settlements on the quantity of funds that could be obtainable beneath the Sale Course of; and the proceeds from the Sale Course of is probably not ample to fulfill the quantities excellent beneath the Firm’s September 2014 arbitral award and/or corresponding November 15, 2015 U.S. judgement in full; and the ramifications of chapter with respect to the Sale Course of and/or the Firm’s claims, together with because of the precedence of different claims. This checklist isn’t exhaustive of the elements that will have an effect on any of the Firm’s forward-looking statements. For a extra detailed dialogue of the danger elements affecting the Firm’s enterprise, see the Firm’s Administration’s Dialogue & Evaluation for the yr ended December 31, 2024 and different reviews which were filed on SEDAR+ and can be found beneath the Firm’s profile at www.sedarplus.ca.

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Buyers are cautioned to not put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to Gold Reserve or individuals performing on its behalf are expressly certified of their entirety by this discover. Gold Reserve disclaims any intent or obligation to replace publicly or in any other case revise any forward-looking statements or the foregoing checklist of assumptions or elements, whether or not because of new data, future occasions or in any other case, topic to its disclosure obligations beneath relevant guidelines promulgated by relevant Canadian provincial and territorial securities legal guidelines.

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NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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For additional data relating to Dalinar Vitality, go to: https://www.dalinarenergy.com.

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For additional data relating to Gold Reserve Ltd., go to https://www.goldreserve.bm or contact:

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