Gold Reserve: Venezuela Rescinds Brisas Construction Permit

Gold Reserve Inc. (GRZ) received formal notification from the Venezuelan government of the rescission of a March 2007 construction permit for the company's Brisas Project, a gold copper mining project. The Spokane, Wash., mining company said the Venzuelan Ministry of Environment referenced the existence of environmental degradation and affectation in the area, the presence of small miners, the proximity of the Imataca Forest Reserve, and presidential decree 4633 as the basis for the decision.