Gold Reserve Notes Issuance of OFAC General License 51 Related to Venezuelan-Origin Gold

Core Viewpoint - The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued General License 51, allowing certain transactions involving Venezuelan-origin gold, which may benefit Gold Reserve Ltd. [1] Group 1: OFAC General License 51 - General License 51 authorizes transactions necessary for the exportation, sale, supply, storage, purchase, delivery, or transportation of Venezuelan-origin gold into the U.S. [1] - The license stipulates that these activities must be conducted by an established U.S. entity and includes compliance requirements such as designated accounts for payments and proceeds [1] - Gold Reserve is reviewing the terms of GL 51 and will monitor regulatory developments related to U.S. sanctions and potential frameworks for engagement in the Venezuelan mining sector [1] Group 2: Company Developments - Gold Reserve is a primarily U.S.-owned mineral exploration and development company focused on advancing high-quality mineral assets to create sustainable long-term value for shareholders [1] - The company is listed on the TSX Venture Exchange, Bermuda Stock Exchange, and trades on the OTCQX [1] - Gold Reserve has filed a Reply Brief with the U.S. Court of Appeals for the Third Circuit regarding the proposed judicial sale of PDVH Shares, asserting that a $5.9 billion bid was not permitted [2] - The company successfully closed a $75 million private placement financing, issuing 24,999,999 common shares at $3.00 per share, with participation from strategic investors [2]