Gold Reserve Files Response in Citgo Appeal, Supporting Venezuela’s Request for Abeyance, Subject to Support of the United States
PEMBROKE, Bermuda — Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“ Gold Reserve ” or the “ Company ”) announces that it has filed a Response to Venezuela’s motion for an abeyance of the appeal concerning the proposed judicial sale of PDVH shares to Elliott/Amber Energy (the “ Appeal ”). Venezuela’s motion, filed on October 1, 2026, requests the Appeal be held in abeyance, with periodic status reports every six months, to allow Venezuela and its advisors to pursue and implement a repayment of the Delaware creditors.
Gold Reserve’s Response supports Venezuela’s motion for a limited six-month abeyance, subject to concurrent support from the United States. As stated in its Response, the U.S. Administration’s actions in Venezuela have resulted in a significant increase in Citgo’s value and the ability for Venezuela to finance repayment of the Delaware creditors. Accordingly, Gold Reserve believes that a purchase led by Venezuela, and supported by the U.S. Administration, could provide a prompt and comprehensive solution for resolving creditors’ claims which is in the best interest of everyone, including Venezuela and the United States.
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Earlier this week, the U.S. Court of Appeals for the Third Circuit issued an Order inviting the United States to express its views and interests in the Appeal, with a filing deadline of October 13, 2026. As of the date of this news release, the United States has not submitted a filing.
A copy of Gold Reserve’s Response, along with all other filings in respect to the motion for abeyance, can be found here .
Gold Reserve is a primarily US-owned mineral exploration and development company focused on advancing high-quality mineral assets with the objective of creating sustainable long-term value for shareholders. The Company is listed on the TSX Venture Exchange (TSX-V: GRZ), the Bermuda Stock Exchange (BSX: GRZ.BH), and trades in the United States on the OTCQX (OTCQX: GDRZF).
For further information regarding Gold Reserve Ltd., visit www.goldreserve.bm .
Dave Onzay Email: [email protected] Phone: +1 (441) 295-4653
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