Gold Reserve Receives First Payment from Venezuela

June 16, 2017

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SPOKANE, Wash.–(BUSINESS WIRE)–Gold Reserve Inc. (TSX.V: GRZ) (OTC: GDRZF) (“Gold Reserve” or the “Company”) today reported that it has entered into a further amendment to the settlement agreement (the “Settlement Agreement”) previously entered into with the Bolivarian Republic of Venezuela (“Venezuela”). Under the terms of the amended Settlement Agreement, Venezuela will pay Gold Reserve a total of approximately US$1,032,000,000 as result of negotiations of the parties to satisfy the arbitra

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