GOLD Reserve Announces Filing of Opposition to Defendant Rusoro Mining Ltd.’S Motion to Dismiss IN Delaware Court of Chancery
GOLD RESERVE ANNOUNCES FILING OF OPPOSITION TO DEFENDANT
RUSORO MINING LTD.’S MOTION TO DISMISS IN DELAWARE COURT OF
CHANCERY
Pembroke, Bermuda – February 2, 2026 – Gold Reserve Ltd. (TSX.V: GRZ) (BSX:
GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announced that is has
filed an Opposition to Defendant Rusoro Mining Ltd.’s (“Rusoro”) Motion to Dismiss in its
proceedings in the Court of Chancery of the State of Delaware.
In its Verified Complaint filed on November 7, 2025, Gold Reserve alleged that Rusoro
knowingly and intentionally breached its contractual obligations owed to Gold Reserve
under the parties’ consortium agreement, which dictated how the parties would coordinate
and support their joint bid in the judicial sale of PDVH shares pending in the Delaware
district court. Gold Reserve seeks a preliminary injunction to enjoin Rusoro from
participating in the sale of the PDVH shares, in addition to other forms of relief.
In its Opposition, Gold Reserve argues that Rusoro’s Motion to Dismiss puts forward no
valid basis for dismissal of Gold Reserve’s claims, and that the Motion should be denied
in its entirety.
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A complete description of the Delaware sale proceedings can be found on the Public
Access to Court Electronic Records system in Crystallex International Corporation v.
Bolivarian Republic of Venezuela, 1:17- mc-00151-LPS (D. Del.) and its related
proceedings.
Cautionary Statement Regarding Forward-Looking statements
This 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 state Gold Reserve’s and its
management’s intentions, hopes, beliefs, expectations or predictions for the future.
Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management at this time, are
inherently subject to significant business, economic and competitive uncertainties and
contingencies. They are frequently characterized by words such as "anticipates", "plan",
"continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may ", "will",
"potential", "proposed", "positioned" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Forward- looking statements contained in this
press release include, but are not limited to, statements relating to any bid submitted by
the Company in the judicial sale of PDVH shares in the Delaware district court, statements
relating to the anticipated outcome of the Company’s litigation against Rusoro, the merits
of its claims, the potential impact of the proceedings on Gold Reserve’s business, and the
potential remedies sought.
We caution that such forward- looking statements involve known and unknown risks,
uncertainties and other risks that may cause the actual events, outcomes or results of
Gold Reserve to be materially different from our estimated outcomes, results,
performance, or achievements expressed or implied by those forward- looking
statements, including but not limited to: the inherent uncertainties of litigation, the
possibility that the Court of Chancery may not rule in the Company’s favor, the risk that
the claims as serted may be dismissed or settled on terms not anticipated by the
Company, and the timing and outcomes of legal proceedings, including any appeals. This
list is not exhaustive of the factors that may affect any of the Company’s forward-looking
statements. For a more detailed discussion of the risk factors affecting the Company’s
business, see the Company’s Management’s Discussion & Analysis for the period ended
September 30, 2025, and other reports that have been filed on SEDAR+ and are available
under the Company’s profile at www.sedarplus.ca.
Investors are cautioned not to put undue reliance on forward- looking 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 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 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 Dalinar Energy, visit: https://www.dalinarenergy.com.
For further information regarding Gold Reserve Ltd., visit https://www.goldreserve.bm or
contact:
(441) 295-4653
A.S. Cooper Building, 7th Floor, 26 Reid Street, Hamilton, HM 11, Bermuda