Gold Reserve Provides Update on CITGO Sale Process

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Pembroke, Bermuda – Gold Reserve Ltd. 2025. The notice indicates an unwanted competitor’s proposal submitted by Amper Energy Inc. To the special master’s degree on August 22, 2025, that the private master, who decided it, constitutes a “superior proposal” under the terms of the shares purchase agreement implemented by the company with Al -Sayed Al -Sayed on June 25, 2025.

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The court set a deadline on August 27, 2025, which the company may submit to a proposal or objection in another way. An argument for any such request will be heard by the court in the renovation session that begins on September 15, 2025.

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The notice indicates the wardrobe width, including, in part, the following:

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(2) An additional amount of consideration to be used (A) to meet part of the attached ruling from the Gold Reserve Ltd.

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The company warns that this “additional amount of consideration” is, in the company’s opinion, This is the minimum Compared to the total value of the company attached to the company, as mentioned in the notification, it may not lead to the company’s recovery of any amount of the attached judgment.

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The notification states:

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Please note that

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According to Article 6.16 (D) of the Dalinar spa resort, the private master determined in good faith that the width of the amber on August 22 is a superior proposal (as specified in the Dalinar blood resort) and made a written notice of this decision, along with the required bid materials, to Dalinar. According to the order of the scheduling of August 22, 2025 (DI 2110) and Article 6.16 (D) from Dalinar Spa, Dalinar three (3) working days from receiving this linear notice (i.e. until August 28, 2025) to provide any master’s reviews in Dalnar for continuing, if it cleared the allocated amount. According to the terms of Dalinar.

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A copy of the private master’s notification will be published here.

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A complete description of DEAWARE sale procedures can be found on the public’s electronic record system at Crystallex International Corporation V. Polivarian Fenezuela, 1: 17-mc-00151-LPS (D. Del) and its relevant actions.

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A warning statement regarding aspecting data

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This version contains “aspecting data” in the sense based on the applicable federal securities laws and “aspecting information” in the sense submitted by the Canadian regional and regional securities laws in force, and the government gold reserves, their hopes, hopes, expectations or predictions for the future. The aspiration data necessarily depends on a number of estimates and assumptions that, although they are reasonable by the administration at this time, are subject to their nature to forklines and an emergency state in business, economic and competitiveness. It is often distinguished in words such as “expectations”, “plan”, “follow -up”, “expectation”, “project”, “pledge”, “sincerity”, “expectation”, “estimate”, “May”, “will”, “potential”, “proposed”, “topical” and other similar words or phrases that occur some events or circumstances ”or“ Will. For example, but not limited to, data related to any bids made by the company to buy PDVH (“giving”).

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We warn that such aspective data includes known and unknown risks, uncertainty and other risks that may cause actual events or results or the results of the golden reserve that differ financially from our estimated results, results, performance, or achievements that are expressed or hypothetical by negotiating with these aspiration statements, including but not limited to: the main estimation of the knowledge of the bidding, or negotiating any Discussions. The private master may not recommend the bid in the final recommendation; The objection to the offer may be supported by the court; The presentation will not be approved by the court as a “final recommendation presentation” according to the bidding procedures, and if it is not approved by the court, including not obtaining the necessary organizational approvals, including but not limited The required contributors, or to meet other conditions for influence, that is, a treatment resulting from the offer; Or the conditions of the industry, the wars of the tariffs, or other factors;

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; The amount, if any, is one of the returns related to the sale process; Competitive claims from other Venezuela, PDVSA and company, including any benefit on the provisions of these creditors and any priority given; Understanding regarding possible settlements between Venezuela and other creditors and the impact of any such settlements on the amount of money that may be available according to the sale process; The sales process may not be sufficient to meet the amounts existing under the arbitration award in September 2014 for the company and/or the interview on November 15, 2015 in the entire United States; The repercussions of bankruptcy in relation to the sale and/or company claims, including the result of the priority of other claims. This list is not comprehensive for the factors that may affect any of the company’s divorced data. To see a more detailed discussion about the risk factors that affect the company’s business, see the discussion and analysis of the company’s management for the year ending December 31, 2024 and other reports that were submitted on Sedar+ and are available under the company’s profile in www.sedarplus.ca.

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