Notice of Unsolicited Non-Conforming Bid in the CITGO Sale Process

PEMBROKE, Bermuda--(BUSINESS WIRE)--Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that the Special Master filed a notice of an unsolicited, competing proposal to purchase the shares of PDV Holding, Inc. (“PDVH”), the indirect parent company of CITGO Petroleum Corp. The Special master also filed a redacted version of the proposal. The Special Master stated in the pertinent part: PLEASE TAKE FURTHER NOTICE THAT, on July 1, 2025 the Court a