Core Viewpoint - Gold Reserve Ltd. is currently engaged in legal proceedings concerning the Citgo sale process, with recent court rulings impacting its position and strategy [2][3]. Legal Proceedings Update - The U.S. District Court for the District of Delaware denied Gold Reserve's motion to disqualify the Special Master and his advisors overseeing the Citgo Sale Process, as well as a similar motion from the Venezuela Parties [2]. - The court indicated it would not rule on the Amber Energy bid until November 21, 2025 [2]. Company’s Position - Gold Reserve disagrees with the court's ruling, citing significant conflicts of interest in the sale process, including $170 million in fees collected by the Special Master's advisors from Elliott and 2020 bondholders [3]. - The company plans to seek appellate remedies to address these concerns regarding the fairness and integrity of the Citgo sale process [3]. Related Legal Actions - In a separate case against Rusoro Mining Ltd. for breach of a Consortium Agreement, the Delaware Court of Chancery declined to expedite Gold Reserve's motion for a preliminary injunction, opting to wait for developments in the Citgo sale process [4].

PEMBROKE, Bermuda--(BUSINESS WIRE)--Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) ("Gold Reserve†or the "Company†) announces that, pursuant to the schedule set by the U.S. District Court for the District of Delaware (the "Court†), the Company filed a motion to disqualify the two professional advisors to the Special Master – the law firm of Weil, Gotshal & Manges LLP ("Weil†) and the investment banking firm of Evercore, Inc. ("Evercore†) – the Special Master Robert B. Pincus,. ...

Core Viewpoint - Gold Reserve Ltd. faced a legal setback as the U.S. District Court denied its motion to strike a special master's notice and granted the termination of its Dalinar Energy SPA, allowing for the signing of Elliott's Amber Energy SPA [1] Legal Developments - On September 18, 2025, Judge Leonard Stark issued a decision regarding Gold Reserve's legal motions [1] - The court denied Gold Reserve's Motion to Strike the Special Master's Notice of Superior Proposal [1] - The Special Master's Request to terminate Gold Reserve's Dalinar Energy SPA was granted [1] - The ruling allows for the signing of Elliott's Amber Energy SPA [1]

PEMBROKE, Bermuda--(BUSINESS WIRE)--Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) ("Gold Reserve†or the "Company†) announces that on September 18, 2025, the U.S. District Court for the Southern District of New York ("SDNY†) issued a decision granting partial summary judgment in favor of the 2020 Bondholders and denying Plaintiff PDVSA's and PDVH's motion for summary judgment that the 2020 Notes, as well as the Indenture, Pledge Agreement and Guaranty were not validly issued under. ...