Gold Reserve Reports on Results of Annual General Meeting of Shareholders and Announces Appointment of Additional Directors

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announced that, at the annual general meeting of shareholders of the Company (“Shareholders”) held December 12, 2024 (the “Meeting”), Robert A. Cohen, Paul Rivett, James Michael Johnston, Yves M. Gagnon, James P. Tunkey, David A. Knight and Jonathan Howes were elected to the board of directors of Gold Reserve (the “Board”) to hold office until the next annual meeting of Shareholders or until their successors are elected or appointed or their office is otherwise vacated.

In addition to the foregoing, the Shareholders approved the following matters at the Meeting:

	(i)		an ordinary resolution authorizing the Board, at any time between the date of the Meeting and the date of the Company’s subsequent annual general meeting, to appoint, at the Board's discretion and at its option, up to an additional three (3) directors to the Board without any further Shareholder approval;
	(ii)		the Incentive Plan Resolution (as defined in and described in detail in the management information circular of the Company in connection with the Meeting dated as of November 14, 2024, available under the Company’s profile on SEDAR+ at www.sedarplus.com (the “Circular”)), authorizing the increase in the maximum number of common shares of the Company, par value US$0.01 each (“Common Shares”), issuable under the Company’s 2012 Equity Incentive Plan (the “Plan”) from 9,939,500 to 14,932,307, subject to the other terms and conditions of the Plan;
	(iii)		the Conditional Options Resolution (as defined in and described in detail in the Circular), ratifying the grant of 2,500,000 conditional stock options at an exercise price of US$7.00 to Mr. Paul Rivett; and
	(iv)		the appointment of CBIZ CPAs P.C. as the independent auditors of the Company until the close of the next annual general meeting, and the authorization of the Board to fix such auditors’ remuneration.