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    Further Updated Briefing and Discovery Schedule for Citgo Sale Hearing

    Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that on June 13, 2025 the U.S. District Court for the District of Delaware (the “Court”) issued an order adopting the below further revised schedule for briefing and discovery deadlines proposed by the Special Master. This proposal came after the Venezuela Parties filed a motion to reconsider the prior scheduling order entered on June 11, 2025. The expiration of the Topping Period on June 18, 2025 and the rescheduled start date for the Sale Hearing on August 18, 2025 are unchanged.

    Event

    Deadline

    Deadline for the Special Master to submit his Final Recommendation

    July 2

    Deadline to serve written discovery on the party (or parties) whose bid is selected as the Final Recommendation

    July 7

    Opening expert reports due

    July 7

    Deadline for the filing of any notice of objections to the Special Master’s Final Recommendation. The notice must state with particularity the bases for each objection known at that time. Parties may only seek discovery that is reasonably related to the issues raised in the initial notices of objections that are filed on July 7.

    July 7

    Deadline for any Competing Objector to disclose its own bid materials (such materials to be commensurate with those disclosed by the Special Master of the recommended bid)

    July 9

    Deadline to serve written discovery on a Competing Objector

    July 11

    Deadline to serve responses and objections for discovery requests served after the Final Recommendation

    July 15

    Deadline to meet and confer regarding the scope of discovery to be produced in response to discovery requests served after submission of the Final Recommendation

    July 16

    Deadline to complete document productions in response to discovery requests served before the submission of the Final Recommendation and substantially complete document productions in response to discovery requests served after the submission of the Final Recommendation

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    Further Updated Briefing and Discovery Schedule for Citgo Sale Hearing Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that on June 13, 2025 the U.S. District Court for the District of Delaware (the “Court”) issued an order adopting the below further revised schedule for …