GOLD RESERVE ANNOUNCES FILING OF INTERNATIONAL ARBITRATION AGAINST THE VENEZUELAN GOVERNMENT

Core Points - Gold Reserve Ltd. announced that its subsidiary GR Mining filed for arbitration against Venezuela due to unlawful measures affecting its investment in the Siembra Minera mining project [1][2] - The estimated loss for GR Mining is over USD $7 billion, which will be quantified during the arbitration process [2] Company Actions - The request for arbitration has been made under the Additional Facility Rules of the International Centre for the Settlement of Investment Disputes [1] - A copy of the arbitration request is available on the company's website [2]