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SPOKANE, WASHINGTON, May 25, 2021 Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the Company ) announces that it plans, subject to the approval of the TSX Venture Exchange (the TSXV ), a non-brokered private placement to Rockne Timm, Doug Belanger and Robert McGuinness, (the Plan Trustees ), as Trustees for the Gold Reserve Corporation 401(k) Savings Plan (the 401(k) Plan ), and James Coleman (the Private Placement ). As previously announced, the Board of Directors recommended, and the Plan Trustees of the 401(k) Plan agreed, to use the cash contributions to the 401(k) Plan for retirement savings for U.S. based employees of the Company and its affiliates, to acquire additional Class A Common Shares for the accounts of the participating employees. In addition, Mr. Coleman, as a resident of Canada, who does not participate in the 401(k) Plan but is entitled to an equivalent payment, will use his payment to subscribe for additional Class A ....