PEMBROKE, Bermuda, August 09, 2025 — 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”), various parties filed memoranda and statements in response to the objections to the Special Master’s Final Recommendation that Gold Reserve’s U.S. acquisition subsidiary, Dalinar Energy Corporation, should be selected by the Court to purchase the shares of PDV Holding, Inc. (“PDVH”), the indirect parent company of CITGO Petroleum Corp. (“CITGO”).
The parties that filed memoranda or statements in response to the objections are as follows:
The Special Master;
Gold Reserve;
Rusoro Mining Ltd.;
Koch Minerals Sàrl and Koch Nitrogen International Sàrl;
Siemens Energy Inc.;
Crystallex International Corporation;
the ConocoPhillips companies;
OI European Group B.V.;
the “Venezuela Parties” (the Bolivarian Republic of Venezuela, PDVSA, PDVH and CITGO); and
Black Lion Capital Advisors.
Under the Court’s schedule, further briefing on the objections is to take place on August 13 and August 16, in advance of the August 18, 2025 Sale Hearing.