Wednesday, January 21, 2009

Gold Reserve postpones separation time under shareholder rights plan

PRESS RELEASE:
Gold Reserve Inc. (GRZ) today announced that its Board of Directors has postponed the separation time under Gold Reserve's shareholder rights plan to February 17, 2009. The hostile offer by Rusoro Mining Ltd. (RML) of December 15, 2008 (the "Offer") to acquire all of the outstanding shares and equity units of Gold Reserve in consideration for three shares of Rusoro for each Gold Reserve share or equity unit tendered under the Offer is not a "Permitted Bid" within the meaning of the Gold Reserve shareholder rights plan. Gold Reserve urges its shareholders not to tender their shares or equity units into the inadequate Rusoro Offer.

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