Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“the Company”) announces the grant of 145,000 stock options to David Knight, a director of the Company. These stock options, which were granted on December 14, 2023, are exercisable at US $2.52, have a 10-year term and have been issued pursuant to the Company's 2012 Equity Incentive Plan, as amended.

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

This release has been approved by Rockne J. Timm, CEO of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Gold Reserve Inc. Contact Jean Charles Potvin 999 W. Riverside Ave., Suite 401 Spokane, WA 99201 USA Tel: (509) 623-1500 Fax: (509) 623-1634

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