PR Newswire | 5 March 2025

Gold Reserve announces filing of international arbitration against the Venezuelan government

News provided by Gold Reserve Ltd.

PEMBROKE, Bermuda, March 5, 2025 /PRNewswire/ — Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) announced today that its wholly owned subsidiary, GR Mining (Barbados) Inc. (GR Mining), filed a request for arbitration against the Bolivarian Republic of Venezuela ("Venezuela") under the Additional Facility Rules of the International Centre for the Settlement of Investment Disputes of the World Bank in Washington, D.C.

The arbitration arises from Venezuela’s arbitrary and unlawful measures that deprived GR Mining of its rights to, and materially damaged its investment in, the multi-billion-dollar Siembra Minera mining project located in Venezuela.

The precise amount of GR Mining’s loss is subject to quantification in the arbitration but, at present, is estimated to exceed USD $7 billion.

A copy of the request for arbitration has been posted on the Company’s website, and is available here.