GOLD Reserve Announces Appointment of New Chief Executive Officer
GOLD RESERVE LTD.
October 4, 2024 TSX.V: GRZ
NR-24-20
GOLD RESERVE ANNOUNCES APPOINTMENT OF NEW CHIEF EXECUTIVE OFFICER
Toronto, Ontario – October 4, 2024 – Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold
Reserve” or the “ Company”) is pleased to announce the appointment of Paul Rivett as Chief
Executive Officer of the Company , effective immediately. Mr. Rivett will continue to serve as a
Director and as Executive Vice-Chairman of the board of directors of the Company.
Robert Cohen, Chairman , said the following about the appointment of Mr. Rivett: “ We are
delighted to appoint Paul as CEO . He has decades of management and entrepreneurial
experience that will enable him to implement dynamic, forward-thinking strategies to enhance
shareholder value. His appointment follows our successful continuance into Bermuda, and we
believe that he has the unique skillset required to lead the Company at this pivotal moment.”
In connection with the appointment of Mr. Rivett as CEO , the Company has granted Mr. Rivett
1,000,000 stock options (the “Options”) to purchase up to 1,000,000 common shares. 50% of the
Options will vest on the date of grant and the remaining 50% will vest six months from the date of
grant, all at an exercise price of US$2.35 per share and with a maximum term of five years.
On Behalf of the Board of Directors
Robert Cohen
Chairman
Cautionary Statement Regarding Forward-Looking statements
This news release contains “forward-looking statements” within the meaning of applicable U.S.
federal securities laws and “forward- looking information” within the meaning of applicable
Canadian provincial and territorial securities laws, and are based on the opinions, estimates and
assumptions of the Company’s management and are subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to differ materially from those projected
in the forward- looking information or sta tements. Forward-looking information or statements in
this release may include other expectations of the Company and are often, but not always,
identified by the use of words such as “aim”, “anticipate”, “believe”, “budget”, “continue”, “could”,
“estimate”, “expect”, “forecast”, “foresee”, “intend”, “may”, “might”, “plan”, “potential”, “predict”,
“project”, “seek”, “should”, “strive”, “targeting”, “will” and similar words suggesting future outcomes
or statements regarding an outlook.
Such information and statements reflect the current views of the Company’s management, as the
case may be, with respect to future events, and are based on information currently available to
the Company, as the case may be, and are subject to certain risks, uncertainties and
assumptions, including those discussed below. Many factors could cause the actual results,
performance or achievements of the Company to differ materially from any future results,
performance or achievements that may be expressed or impl ied by such forward -looking
information or statements. Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward -looking information or statements prove incorrect,
actual results may vary materially from those described herein as intended, planned, anticipated,
believed, estimated or expected.
For a more detailed discussion of the risk factors affecting the Company’s business, see the
Company’s management information circular dated August 20, 2024, the Company’s
Management’s Discussion & Analysis for the 6- month period ended June 30, 2024, the Annual
Information Form on Form 40- F and Management’s Discussion & Analysis for the year ended
December 31, 2023 and other reports that have been filed on SEDAR+ and are available under
the Company’s profile at www.sedarplus.ca and which have been filed on EDGAR and are
available under the Company’s profile at www.sec.gov/edgar.
Investors are cautioned not to put undue reliance on forward -looking information or statements.
All subsequent written and oral forward- looking statements attributable to Gold Reserve or
persons acting on its behalf are expressly qualified in their entirety by this notice. Gold Reserve
disclaims any intent or obligation to update publicly or otherwise revise any forward- looking
information or statements or the foregoing list of assumptions or factors, whether as a result of
new information, future events or otherwise, subject to its disclosure obligations under applicable
rules promulgated by the Securities and Exchange Commission and applicable Canadian
provincial and territorial securities laws.
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.
For further information regarding Gold Reserve Ltd., please contact:
Jean Charles Potvin
999 W. Riverside Ave., Suite 401 Spokane, WA 99201 USA
Tel: (509) 623-1500
Fax: (509) 623-1634