Gold Reserve Recordsdata Discover of Objection to Amber Power Bid and Offers Replace on Different Current Filings in CITGO Sale Course of

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PEMBROKE, Bermuda — Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Firm”) offers an replace on three latest filings within the CITGO Sale Course of being run by the U.S. District Courtroom for the District of Delaware (the “Courtroom”):

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1. On September 2, 2025, the Firm filed a Discover of Competing Objection and Disclosure of Bid Supplies wherein it confirmed that it’s a Competing Objector, and due to this fact that it’s going to current its Improved Bid to the Courtroom and request that or not it’s accredited as an alternative of the $2 billion lower-priced Amber Power bid. In conjunction therewith, the Firm filed bid supplies that had not already been filed on the general public docket. A replica of the submitting might be posted right here.

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2. On September 2, 2025, the Firm filed a letter with the Courtroom wherein it joined the Venezuela Events’ request that the Courtroom direct the Particular Grasp to serve totally unredacted variations of the transcripts of the Particular Grasp’s August 11 and 13 ex parte conferences with the Courtroom on events which have signed a confidentiality settlement with the Particular Grasp. A replica of the letter might be posted right here.

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3. On August 30, 2025, the Firm filed a letter with the Courtroom requesting, in reference to the Particular Grasp’s Up to date Last Advice, that the Courtroom keep its choice on the Particular Grasp’s request to terminate the Dalinar Power bid till the Courtroom guidelines on Gold Reserve’s pending Movement to Strike the Amber Power bid or, within the various, that the Courtroom set a briefing schedule for the Particular Grasp’s request that tracks the prevailing schedule for objections to the Up to date Last Advice. A replica of the submitting might be posted right here.

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An entire description of the Delaware sale proceedings may be discovered on the Public Entry to Courtroom Digital Information system in Crystallex Worldwide Company v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.) and its associated proceedings.

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Cautionary Assertion Relating to Ahead-Trying statements

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This launch accommodates “forward-looking statements” inside the which means of relevant U.S. federal securities legal guidelines and “forward-looking data” inside the which 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 longer term. Ahead-looking statements are essentially primarily based upon quite a lot of estimates and assumptions that, whereas thought of cheap by administration at the moment, are inherently topic to important enterprise, financial and aggressive uncertainties and contingencies. They’re steadily characterised by phrases akin to “anticipates”, “plan”, “proceed”, “count on”, “challenge”, “intend”, “imagine”, “anticipate”, “estimate”, “might”, “will”, “potential”, “proposed”, “positioned” and different related phrases, or statements that sure occasions or situations “might” or “will” happen. Ahead-looking statements contained on this press launch embrace, however should not restricted to, statements regarding 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 recognized and unknown dangers, uncertainties and different dangers which will trigger the precise occasions, outcomes or outcomes of Gold Reserve to be materially totally 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 think about the Bid, to enter into any discussions or negotiation with respect thereto; the Particular Grasp might not advocate the Bid within the Last Advice; an objection to the Bid could also be upheld by the Courtroom; the Bid won’t be accredited by the Courtroom because the “Last Suggest Bid” beneath the Bidding Procedures, and if accredited by the Courtroom might not shut, together with because of not acquiring crucial regulatory approvals, together with however not restricted to any crucial approvals from the U.S. Workplace of Overseas Asset Management (“OFAC”), the U.S. Committee on Overseas Funding in america, the U.S. Federal Commerce Fee or the TSX Enterprise Change; failure of the Firm or every other social gathering 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 as a result of failing to finish the Bid or in any other case; that the making of the Bid or any transaction ensuing therefrom might contain sudden 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 important disruptions as a result of transaction associated uncertainty, trade situations, tariff wars or different elements; the flexibility to implement the writ of attachment granted to the Firm; the timing set for varied studies and/or different issues with respect to the Sale Course of will not be 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 doable settlements between Venezuela and different collectors and the influence of any such settlements on the quantity of funds that could be accessible beneath the Sale Course of; and the proceeds from the Sale Course of will not be 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 is just not exhaustive of the elements which 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 12 months ended December 31, 2024 and different studies which have been filed on SEDAR+ and can be found beneath the Firm’s profile at www.sedarplus.ca.