Gold Reserve provides updates on legal actions in Delaware

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Pembroke, Bermuda – Gold Reserve Ltd. (BSX: GRZ.BH) (“Company:

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The US District Court for the District of Delaware issued a decision today denying Gold Reserve’s motion to agree to a special proceeding filed by Citgo, Weil Advisors, Wort Firms LLP (“Weil”) and Everore Inc. – and a District court Judge. The court also denied that the court was infiltrated by Venezuelan parties. The court also said it does not intend to rule on Amber’s power bid before November 21, 2025. Copies of the court’s written opinion and court order will be posted here.

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Gold Reserver with respect and decision and continues to believe that the sales process suffered from important conflicts of interest, including 200 of the funds collected in Elliott’s allowed Elliott, as revealed by the court-approved acquisition of the court. These concerns were addressed in the court’s written opinion, which noted:

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“One lawyer, Jeffrey Saferstein, has represented Elliott and Apollo Global Management, Apollo’s investor in the Elliott Bid, SASTONTEIN, ALLIOTY, now receiving an email, indicating that the day before the highest bids were entered into the sale process, a frustrated Turkel called Saferstein, demanding some level of assistance with the bid Elliott is scheduled to make… Saferstein later wrote his colleagues [would] Hate them [i.e., Elliott] not wanting to work with us. ‘

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The company maintains its view that these and other disputes undermine the integrity and integrity of Citgo’s sales process and intends to seek all appropriate remedies.

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Separately, in Gold Reserve’s Special action in Delaware Court against Rusro mining Ltd. Because of the violation of the group agreement of the group agreement, the court came down to speed up the movement of Gold Reserve’s. The Court of Chancery decided that it would await the development of the Citgo sale process before dealing with this.

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A complete description of the antitrust action can be found in the public access electronic records of Crystallex International Corporation v. Bolivarian Republic of Venezuela, 1: 17-Mc-00151-DEL (D. DEL (D. DEL (D. DEL (D. DEL.

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Cautionary Statement Regarding Forward-Looking Statements

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This release contains “forward-looking statements” within the meaning of US Federal Security Laws and “forward-looking information” within the meaning of State Security Laws and Torturial Gold Reserve’s and its national management objectives, hopes, beliefs, beliefs, expectations for the future. Forward-looking statements are based on a number of assumptions and considerations that, while considered reasonable by management at this time, focus on significant business, economic and competitive risks and competitive factors. They are often expressed by words such as “expect”, “plan”, “proceed”, “request”, “check”, “check”, “intend”, “aim”, “aim”, “aim”, “aim”, ” Forward-looking statements contained in this press release include, but are not limited to, statements regarding any bid submitted by the company for the purchase of shares of PDVH (The “BID”).

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We caution that forward-looking statements involve known and unknown risks and other risks that may cause actual events, including those golden statements to consider any discussions or negotiations with respect. The special Master may not recommend the bid in the final recommendation; A bid dispute can be upheld by a court; The bid will not be approved by the court as a “Final Recommended Bid” under the bidding procedures, and if approved by the court is not obtained, including any necessary approvals from the United States, the US Federal commission or the TSX Venture Exchange; the failure of the company or other party to obtain sufficient equity and / or debt capital or any necessary shareholder approvals, or to satisfy other conditions that will apply, any transaction resulting from the bid; that the company may take any money made due to failure to complete the bid or otherwise; That the execution of the bid or any transaction arising therefrom may involve unexpected costs, liabilities or delays; that, prior to or as a result of the completion of any transaction proposed by the bid, the company’s business may experience material disruption due to uncertainties related to the transaction, industry conditions, tax disputes or other matters; the ability to use the attachment author provided by the company; Time is spent on various reports and / or other issues regarding the sales process may not be received; The ability of the company to share above the sales process (and the related costs associated with this

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; The amount, if any, of money associated with the sales process; Competing claims of other creditors of Venezuela, PDVSA and the company, including any interest on such judgments owed and any set aside. the uncertainty regarding the settlements between Venezuela and other creditors and the effect of any such settlements on the amount of money that may be obtained under the sale process; And the proceeds from the sale process may be sufficient to satisfy the outstanding amounts under the company’s September 2014 Rulerll of the company and / or the November 15, 2015 US Judgment in full; and classification of bankruptcy in relation to the sale process and / or claims of the company, including due to the prioritization of other claims. This list is not limited to factors that could affect any forward-looking statements of the company. For a more detailed discussion of risk factors affecting the company’s business, see the company’s discussion and analysis for the year ended December 31, 2024 and other reports filed with Sedar+ and available under the company profile at www.sedarplus.ca.

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