Gold Reserve Inc. announced that it has appointed James Tunkey (Mr. Tunkey) as a director of the Company pursuant to the terms of a memorandum of agreement (the “Agreement”) with Camac Partners, LLC, Camac Fund, LP and Camac Fund II, LP. Following the appointment of Mr. Tunkey, the board of directors of the Company (the “Board”) is composed of eight directors, being: James H. Coleman, Rockne J. Timm, James P. Geyer, Robert A. Cohen, James Michael Johnston, Yves M. Gagnon, A. Douglas Belanger and Mr. James Tunkey. In connection with the terms of the Agreement, the Company will be including Mr. Tunkey as an additional nominee for election to the Board to be considered at the Company's upcoming annual meeting of shareholders to be held on November 17, 2022 (the “Meeting”).

As previously disclosed by the Company, A. Douglas Belanger will not be standing for re-election at the Meeting.