GOLD Reserve Announces Stock Option Grant

GOLD RESERVE ANNOUNCES STOCK OPTION GRANT

SPOKANE, WASHINGTON, December 19, 2023 NR-23-08

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.

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

“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.”