News release
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n update on a
wned 45% by
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vember. This s
nd silver produ
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and prelimina
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ence in early i
ment wells, and
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activities in V
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pleased to ann
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October 13, 2
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development
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ent.
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Company can
OCTOBE
2017
DRZF) (“Gold
h respect to th
y the Bolivar
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al Instrument
o date resourc
nd operating
er day Siembr
olite project.
lete with preli
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Statement whi
currently bein
he overall pro
nal resource p
racas and Pue
ny also reports
mining project
- Ministry of
proceed to fil
activities. To
olívar (“IAMI
of an aggreg
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verall constru
has received
on the projec
ment of the pr
be located at
ER VENE
d Reserve” or
he Siembra M
rian Republic
complete a Pr
43-101, whic
ce estimate, a
costs, and ov
ra Minera pro
The saprolite
iminary engin
with its enviro
ich will be pre
ng evaluated
oject developm
potential is evi
erto Ordaz.
s that the Siem
ts. Recently, t
f the Environm
le its request f
o support the e
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gate quarry fo
al rock base fo
ction of the p
the October p
ct continues an
roject in a tim
www.goldres
EZUELA U
the “Compan
Minera gold/co
of Venezuela
reliminary Ec
ch is expected
mine plan inc
verall project s
oject and will
e project tailin
neering of the
onmental con
epared in acc
for a drilling
ment activitie
ident. Siembr
mbra Minera
the Ministerio
ment) issued
for the Permit
early works, t
oved the issu
r the project.
or the constru
projects.
payment of U
nd the promp
mely fashion.”
serveinc.com
NR-
UPDATE
ny”) is please
opper/silver
a). Siembra
conomic
d to be finaliz
cluding gold,
schedule. The
now also inc
ngs dam site
e saprolite pla
nsultants on th
cordance with
program exp
es, water
ra Minera has
project has
o del Poder
the Permit to
t to Affect wh
the Bolivar S
uance of a non
This permit w
uction of the
US$29.5 milli
pt receipt of th
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17-14
ed to
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Gold Reserve Inc. Contact
A. Douglas Belanger, President
999 W. Riverside Avenue, Suite 401
Spokane, WA 9920I USA
Tel. (509) 623-1500
Fax (509) 623-1634
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 including without limitation statements with
respect to the development of the Siembra Minera project, including the preparation of a PEA for the
project . 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.
We caution that such forward-looking statements involve known and unknown risks, uncertainties
and other risks that may cause the actual outcomes, financial results, performance, or achievements
of Gold Reserve to be materially different from our estimated outcomes, future results, performance,
or achievements expressed or implied by those forward-looking statements, including without
limitation the risk that a PEA for the Siembra Minera project will not be completed within the time
frames anticipated, the risk that the development of the Siembra Minera project may not proceed as
anticipated and the risk that the Company may not be able to repatriate funds received under the
Settlement Agreement. This list is not exhaustive of the factors that may affect any of Gold Reserve’s
forward-looking statements. 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 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.