Gold Reserve Inc. (GDRZF)

[Enterprising Investor]

Gold Reserve Provides Update on Agreements with Venezuela (6/08/16)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Company” or “Gold Reserve”) reported today that its senior executives continue to meet in Caracas with Venezuelan government officials to finalize the settlement and mixed company agreements, as well as related documents from various Venezuelan government entities.

“We have made significant progress and believe we are in the final stage of completing these agreements and the recent approval of the new Ministry and the announcement by President Maduro appear to be a confirmation of these efforts.”

On June 7, 2016, President Nicolas Maduro Moros, in an address on national television, announced the creation of a new Ministry exclusively dedicated to mining activities, named the Ministry for Ecological Mining Development. President Maduro also announced that six agreements would be executed in the near term, which the Company understands includes the agreement between Gold Reserve and Venezuela.

Doug Belanger, President, stated that, “We have made significant progress and believe we are in the final stage of completing these agreements and the recent approval of the new Ministry and the announcement by President Maduro appear to be a confirmation of these efforts.”

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov and www.sedar.com.

http://www.businesswire.com/news/home/20160608006587/en/Gold-Reserve-Update-Agreements-Venezuela