2024-09-30 | Gold Reserve announces the end of its continuation in Bermuda | TSXV:GRZ

Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold reserve” or “Business“) is pleased to announce that, in connection with the Company’s press release dated September 16, 2024, the Company’s continued operations from the province of Alberta to Bermuda (“Duration”) was completed on September 30, 2024. In connection with the Continuance, the Company’s name has been changed from “Gold Reserve Inc.” to “Gold Reserve Ltd.”

The continuation took place by means of an arrangement plan in accordance with Art. 193 of the Act Act on business companies (Alberta), which was approved by shareholders on September 16, 2024 and by the Court of King’s Bench of Alberta on September 17, 2024.

The common shares were assigned a new CUSIP number G4R86G107 and a new ISIN code BMG4R86G1074. The common stock is expected to begin trading on the TSX Venture Exchange under the new name and CUSIP on or about October 7, 2024.

On behalf of the Management Board

Paul Rivett

Executive Vice President

Cautionary Statement Regarding Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of applicable U.S. federal securities laws and “forward-looking information” within the meaning of applicable Canadian, provincial and territorial securities laws, and are based on the opinions, estimates and assumptions of the Company’s management and are subject to various risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information or statements. Forward-looking information or statements contained in this release include matters relating to the Continuation, including the effective date of the new name and CUSIP, and may include other expectations of the Company and are often, but not always, identified by the use of words such as “target” , “predict”, “believe”, “budget”, “continue”, “maybe”, “estimate”, “expect”, “forecast ”, “anticipate&closeCurlyDoubleQuote;, “intend&closeCurlyDoubleQuote;, “may&CloseCurlyDoubleQuote ;, “might”, “plan”,” “potential”,” “predict,” “project,” “seek,” “should,” “strive”,” “directing,” “will” and similar words that suggest future results or statements about prospects.

Such information and statements reflect the current views of the Company’s management, as the case may be, with respect to future events and are based on information currently available to the Company, as the case may be, and are subject to certain risks and assumptions, including those discussed below. Many factors could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking information or statements. If one or more of these risks or uncertainties materializes or if the assumptions underlying forward-looking information or statements prove incorrect, actual results may differ materially from those described herein as intended, planned, anticipated, assumed, estimated or expected .

These risks and uncertainties include potential tax liabilities (which may be significant) related to the Continuation for Shareholders and/or the Company or changes in the rights of Shareholders as a result of the Continuation.

This list is not exhaustive of all factors that may affect any forward-looking information or statements of the Company. A more detailed discussion of the risk factors affecting the Company’s going concern and operations can be found in the Company’s Management Information Circular dated August 20, 2024, Company Management Discussion and Analysis and CloseCurlyQuote; for the period of 6 months ended June 30, 2024, Annual Information Form 40-F and Management’s Discussion and Analysis for the year ended December 31, 2023 and other reports that have been filed on SEDAR+ and are available on the Company’s profile on the website. sedarplus.ca and which have been filed with EDGAR and are available under the Company’s profile at www.sec.gov/edgar.

Investors are cautioned not to place undue reliance on forward-looking information and statements. All subsequent written and oral forward-looking statements attributable to Gold Reserve or persons acting on its behalf are expressly qualified in their entirety by this notice. Gold Reserve disclaims any intention or obligation to publicly update or otherwise revise any forward-looking information or statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, subject to its disclosure obligations under of applicable rules promulgated by the Securities and Exchange Commission and applicable Canadian provincial and territorial securities laws.

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

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