{"success":true,"data":{"pressRelease":{"id":"164993","rtpr_id":"nBw5FKhZ7a-20261009","ticker":"GRZ","exchange":"","all_tickers":["GRZ"],"title":"Gold Reserve Files Response in Citgo Appeal, Supporting Venezuela’s Request for Abeyance, Subject to Support of the United States","author":"Business Wire","published_at":"2026-10-09T00:10:00.088Z","article_body":"Gold Reserve Files Response in Citgo Appeal, Supporting Venezuela’s Request\nfor Abeyance, Subject to Support of the United States\n\nGold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold\nReserve” or the “Company”) announces that it has filed a Response to\nVenezuela’s motion for an abeyance of the appeal concerning the proposed\njudicial sale of PDVH shares to Elliott/Amber Energy (the “Appeal”).\nVenezuela’s motion, filed on October 1, 2026, requests the Appeal be held in\nabeyance, with periodic status reports every six months, to allow Venezuela\nand its advisors to pursue and implement a repayment of the Delaware\ncreditors.\n\nGold Reserve’s Response supports Venezuela’s motion for a limited\nsix-month abeyance, subject to concurrent support from the United States. As\nstated in its Response, the U.S. Administration’s actions in Venezuela have\nresulted in a significant increase in Citgo’s value and the ability for\nVenezuela to finance repayment of the Delaware creditors. Accordingly, Gold\nReserve believes that a purchase led by Venezuela, and supported by the U.S.\nAdministration, could provide a prompt and comprehensive solution for\nresolving creditors’ claims which is in the best interest of everyone,\nincluding Venezuela and the United States.\n\nEarlier this week, the U.S. Court of Appeals for the Third Circuit issued an\nOrder inviting the United States to express its views and interests in the\nAppeal, with a filing deadline of October 13, 2026. As of the date of this\nnews release, the United States has not submitted a filing.\n\nA copy of Gold Reserve’s Response, along with all other filings in respect\nto the motion for abeyance, can be found here\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fgoldreserve.bm%2Fthird-circuit-appeal-motion-for-abeyance&esheet=54618793&newsitemid=20261008315274&lan=en-US&anchor=here&index=1&md5=b375507dc796ab0b2db357973e672a25)\n.\n\nA complete description of the Delaware sale proceedings can be found on the\nPublic Access to Court Electronic Records system in Crystallex International\nCorporation v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.)\nand its related proceedings.\n\nAbout Gold Reserve\n\nGold Reserve is a primarily US-owned mineral exploration and development\ncompany focused on advancing high-quality mineral assets with the objective of\ncreating sustainable long-term value for shareholders. The Company is listed\non the TSX Venture Exchange (TSX-V: GRZ), the Bermuda Stock Exchange (BSX:\nGRZ.BH), and trades in the United States on the OTCQX (OTCQX: GDRZF).\n\nCautionary Statement Regarding Forward-Looking statements\n\nThis release contains “forward-looking statements” within the meaning of\napplicable U.S. federal securities laws and “forward-looking information”\nwithin the meaning of applicable Canadian provincial and territorial\nsecurities laws and state Gold Reserve’s and its management’s intentions,\nhopes, beliefs, expectations or predictions for the future. Forward-looking\nstatements are necessarily based upon a number of estimates and assumptions\nthat, while considered reasonable by management at this time, are inherently\nsubject to significant business, economic and competitive uncertainties and\ncontingencies. They are frequently characterized by words such as\n\"anticipates\", \"plan\", \"continue\", \"expect\", \"project\", \"intend\", \"believe\",\n\"anticipate\", \"estimate\", \"may\", \"will\", \"potential\", \"proposed\", \"positioned\"\nand other similar words, or statements that certain events or conditions \"may\"\nor \"will\" occur. Forward-looking statements contained in this press release\ninclude, but are not limited to, statements regarding the potential abeyance\nof the Appeal; the potential for Venezuela and its advisors to pursue and\nimplement the repayment of the Delaware creditors; the potential for a\npurchase of the PDVH shares led by Venezuela and supported by the U.S.\nAdministration; the potential for such a transaction to provide a prompt and\ncomprehensive resolution of creditors’ claims; and the potential impact of\nthe U.S. Administration’s actions in Venezuela on the value of CITGO, the\nvalue of the PDVH shares and the ability to finance repayment of creditors’\nclaims.\n\nWe caution that such forward-looking statements involve known and unknown\nrisks, uncertainties and other risks that may cause the actual events,\noutcomes or results of Gold Reserve to be materially different from our\nestimated outcomes, results, performance, or achievements expressed or implied\nby those forward-looking statements, including but not limited to: the outcome\nand timing of the Appeal and any related proceedings; the decision of the\nThird Circuit regarding the motion for an abeyance and the views or position\nof the United States; actions of the U.S Administration in Venezuela,\nVenezuelan political or economic conditions, or the legal or regulatory\nenvironment applicable to CITGO or Venezuela; the ability of Venezuela and its\nadvisors to negotiate, finance and implement any repayment of the Delaware\ncreditors; the value of CITGO and the PDVH shares, including the potential\nimpact of changes in oil prices, refining margins, operating performance,\nmarket conditions and other factors; and the terms, timing and approval of any\nrepayment, settlement or restructuring involving Venezuela or its creditors.\nThis list is not exhaustive of the factors that may affect any of the\nCompany’s forward-looking statements. For a more detailed discussion of the\nrisk factors affecting the Company’s business, see the Company’s\nManagement’s Discussion & Analysis for the period ended June 30, 2026,\nand other reports that have been filed on SEDAR+ and are available under the\nCompany’s profile at www.sedarplus.ca\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sedarplus.ca&esheet=54618793&newsitemid=20261008315274&lan=en-US&anchor=www.sedarplus.ca&index=2&md5=e8acecafc08fc206c0051b4efb7305a7)\n.\n\nInvestors are cautioned not to put undue reliance on forward-looking\nstatements. All subsequent written and oral forward-looking statements\nattributable to Gold Reserve or persons acting on its behalf are expressly\nqualified in their entirety by this notice. Gold Reserve disclaims any intent\nor obligation to update publicly or otherwise revise any forward-looking\nstatements or the foregoing list of assumptions or factors, whether as a\nresult of new information, future events or otherwise, subject to its\ndisclosure obligations under applicable rules promulgated by applicable\nCanadian provincial and territorial securities laws.\n\nNEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT\nTERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS\nRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.\n\nFor further information regarding Gold Reserve Ltd., visit www.goldreserve.bm\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.goldreserve.bm&esheet=54618793&newsitemid=20261008315274&lan=en-US&anchor=www.goldreserve.bm&index=3&md5=aab2be95f322b798ab5784c58e81b94b)\n.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261008315274/en/\n(https://www.businesswire.com/news/home/20261008315274/en/)\n\nDave Onzay\n\nEmail: investorrelations@goldreserve.bm \n(mailto:investorrelations@goldreserve.bm) \nPhone: +1 (441) 295-4653\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw5FKhZ7a-20261009","title":"Gold Reserve Files Response in Citgo Appeal, Supporting Venezuela’s Request for Abeyance, Subject to Support of the United States","author":"Business Wire","ticker":"GRZ","created":"2026-10-09T00:10:00.088Z","tickers":["GRZ"],"exchange":"","article_body":"Gold Reserve Files Response in Citgo Appeal, Supporting Venezuela’s Request\nfor Abeyance, Subject to Support of the United States\n\nGold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold\nReserve” or the “Company”) announces that it has filed a Response to\nVenezuela’s motion for an abeyance of the appeal concerning the proposed\njudicial sale of PDVH shares to Elliott/Amber Energy (the “Appeal”).\nVenezuela’s motion, filed on October 1, 2026, requests the Appeal be held in\nabeyance, with periodic status reports every six months, to allow Venezuela\nand its advisors to pursue and implement a repayment of the Delaware\ncreditors.\n\nGold Reserve’s Response supports Venezuela’s motion for a limited\nsix-month abeyance, subject to concurrent support from the United States. As\nstated in its Response, the U.S. Administration’s actions in Venezuela have\nresulted in a significant increase in Citgo’s value and the ability for\nVenezuela to finance repayment of the Delaware creditors. Accordingly, Gold\nReserve believes that a purchase led by Venezuela, and supported by the U.S.\nAdministration, could provide a prompt and comprehensive solution for\nresolving creditors’ claims which is in the best interest of everyone,\nincluding Venezuela and the United States.\n\nEarlier this week, the U.S. Court of Appeals for the Third Circuit issued an\nOrder inviting the United States to express its views and interests in the\nAppeal, with a filing deadline of October 13, 2026. As of the date of this\nnews release, the United States has not submitted a filing.\n\nA copy of Gold Reserve’s Response, along with all other filings in respect\nto the motion for abeyance, can be found here\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fgoldreserve.bm%2Fthird-circuit-appeal-motion-for-abeyance&esheet=54618793&newsitemid=20261008315274&lan=en-US&anchor=here&index=1&md5=b375507dc796ab0b2db357973e672a25)\n.\n\nA complete description of the Delaware sale proceedings can be found on the\nPublic Access to Court Electronic Records system in Crystallex International\nCorporation v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.)\nand its related proceedings.\n\nAbout Gold Reserve\n\nGold Reserve is a primarily US-owned mineral exploration and development\ncompany focused on advancing high-quality mineral assets with the objective of\ncreating sustainable long-term value for shareholders. The Company is listed\non the TSX Venture Exchange (TSX-V: GRZ), the Bermuda Stock Exchange (BSX:\nGRZ.BH), and trades in the United States on the OTCQX (OTCQX: GDRZF).\n\nCautionary Statement Regarding Forward-Looking statements\n\nThis release contains “forward-looking statements” within the meaning of\napplicable U.S. federal securities laws and “forward-looking information”\nwithin the meaning of applicable Canadian provincial and territorial\nsecurities laws and state Gold Reserve’s and its management’s intentions,\nhopes, beliefs, expectations or predictions for the future. Forward-looking\nstatements are necessarily based upon a number of estimates and assumptions\nthat, while considered reasonable by management at this time, are inherently\nsubject to significant business, economic and competitive uncertainties and\ncontingencies. They are frequently characterized by words such as\n\"anticipates\", \"plan\", \"continue\", \"expect\", \"project\", \"intend\", \"believe\",\n\"anticipate\", \"estimate\", \"may\", \"will\", \"potential\", \"proposed\", \"positioned\"\nand other similar words, or statements that certain events or conditions \"may\"\nor \"will\" occur. Forward-looking statements contained in this press release\ninclude, but are not limited to, statements regarding the potential abeyance\nof the Appeal; the potential for Venezuela and its advisors to pursue and\nimplement the repayment of the Delaware creditors; the potential for a\npurchase of the PDVH shares led by Venezuela and supported by the U.S.\nAdministration; the potential for such a transaction to provide a prompt and\ncomprehensive resolution of creditors’ claims; and the potential impact of\nthe U.S. Administration’s actions in Venezuela on the value of CITGO, the\nvalue of the PDVH shares and the ability to finance repayment of creditors’\nclaims.\n\nWe caution that such forward-looking statements involve known and unknown\nrisks, uncertainties and other risks that may cause the actual events,\noutcomes or results of Gold Reserve to be materially different from our\nestimated outcomes, results, performance, or achievements expressed or implied\nby those forward-looking statements, including but not limited to: the outcome\nand timing of the Appeal and any related proceedings; the decision of the\nThird Circuit regarding the motion for an abeyance and the views or position\nof the United States; actions of the U.S Administration in Venezuela,\nVenezuelan political or economic conditions, or the legal or regulatory\nenvironment applicable to CITGO or Venezuela; the ability of Venezuela and its\nadvisors to negotiate, finance and implement any repayment of the Delaware\ncreditors; the value of CITGO and the PDVH shares, including the potential\nimpact of changes in oil prices, refining margins, operating performance,\nmarket conditions and other factors; and the terms, timing and approval of any\nrepayment, settlement or restructuring involving Venezuela or its creditors.\nThis list is not exhaustive of the factors that may affect any of the\nCompany’s forward-looking statements. For a more detailed discussion of the\nrisk factors affecting the Company’s business, see the Company’s\nManagement’s Discussion & Analysis for the period ended June 30, 2026,\nand other reports that have been filed on SEDAR+ and are available under the\nCompany’s profile at www.sedarplus.ca\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sedarplus.ca&esheet=54618793&newsitemid=20261008315274&lan=en-US&anchor=www.sedarplus.ca&index=2&md5=e8acecafc08fc206c0051b4efb7305a7)\n.\n\nInvestors are cautioned not to put undue reliance on forward-looking\nstatements. All subsequent written and oral forward-looking statements\nattributable to Gold Reserve or persons acting on its behalf are expressly\nqualified in their entirety by this notice. Gold Reserve disclaims any intent\nor obligation to update publicly or otherwise revise any forward-looking\nstatements or the foregoing list of assumptions or factors, whether as a\nresult of new information, future events or otherwise, subject to its\ndisclosure obligations under applicable rules promulgated by applicable\nCanadian provincial and territorial securities laws.\n\nNEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT\nTERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS\nRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.\n\nFor further information regarding Gold Reserve Ltd., visit www.goldreserve.bm\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.goldreserve.bm&esheet=54618793&newsitemid=20261008315274&lan=en-US&anchor=www.goldreserve.bm&index=3&md5=aab2be95f322b798ab5784c58e81b94b)\n.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261008315274/en/\n(https://www.businesswire.com/news/home/20261008315274/en/)\n\nDave Onzay\n\nEmail: investorrelations@goldreserve.bm \n(mailto:investorrelations@goldreserve.bm) \nPhone: +1 (441) 295-4653\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-10-09T00:10:00.141087374Z","server_sent_at_ms":1791504600141},"received_at":"2026-10-09T00:10:00.193Z","source_url":"https://www.businesswire.com/news/home/20261008315274/en/"},"analysis":{"id":"153393","press_release_id":"164993","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["abeyance would further delay any distribution of sale proceeds to creditors including Gold Reserve","outcome hinges on U.S. government position not yet filed; high political and timing uncertainty","no quantified recovery or timeline for GRZ's claim disclosed"],"eventType":"legal_litigation","narrative":"Gold Reserve filed a response supporting Venezuela's October 1 motion to hold the Third Circuit appeal of the Citgo/PDVH judicial sale in abeyance for six months, conditioned on U.S. support.\n\nThe company argues that U.S. actions in Venezuela have significantly increased Citgo's value and Venezuela's ability to repay Delaware creditors, making a Venezuela-led purchase the best path to resolve all creditor claims, including GRZ's.\n\nThe Third Circuit has invited the United States to state its position by October 13, 2026; no U.S. filing had been made as of this release, leaving the abeyance outcome unresolved.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"GRZ backs a six-month abeyance of the Citgo sale appeal, betting on a Venezuela-led repayment over the Elliott/Amber sale -- U.S. filing due October 13 is the catalyst."},"keyFigures":{"customDimensions":{"abeyance_length":"six months","us_filing_deadline":"October 13, 2026","status_report_interval":"six months"}},"namedEntities":{"people":[{"name":"Dave Onzay","role":"investor relations contact"}],"products":[],"companies":[{"name":"Gold Reserve Ltd.","ticker":"GRZ","relationship":"filer"},{"name":"Venezuela (Bolivarian Republic of Venezuela)","relationship":"litigant whose motion GRZ supports"},{"name":"Elliott/Amber Energy","relationship":"proposed purchaser of PDVH shares"},{"name":"PDVH / Citgo","relationship":"subject of proposed judicial sale"},{"name":"Crystallex International Corporation","relationship":"originating creditor in Delaware proceedings"},{"name":"U.S. Court of Appeals for the Third Circuit","relationship":"appellate court"}],"dollarAmounts":[]},"materialImpact":{"score":3,"reasoning":"Issuer-authored court filing in the Citgo/PDVH sale appeal — the litigation outcome is central to GRZ's claim value. Supporting abeyance delays the Elliott/Amber sale but opens a potential Venezuela-led repayment path, contingent on the U.S. filing due October 13, 2026."},"tickerRelevance":{"others":[],"primary":"GRZ"},"globalImportance":30,"audienceRelevance":25,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"litigation-filing-central-to-claim-value","issuerAuthored":true,"catalystPending":"US Third Circuit filing Oct 13"}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"mixed","material_impact_score":3,"narrative":"Gold Reserve filed a response supporting Venezuela's October 1 motion to hold the Third Circuit appeal of the Citgo/PDVH judicial sale in abeyance for six months, conditioned on U.S. support.\n\nThe company argues that U.S. actions in Venezuela have significantly increased Citgo's value and Venezuela's ability to repay Delaware creditors, making a Venezuela-led purchase the best path to resolve all creditor claims, including GRZ's.\n\nThe Third Circuit has invited the United States to state its position by October 13, 2026; no U.S. filing had been made as of this release, leaving the abeyance outcome unresolved.","key_figures":{"customDimensions":{"abeyance_length":"six months","us_filing_deadline":"October 13, 2026","status_report_interval":"six months"}},"named_entities":{"people":[{"name":"Dave Onzay","role":"investor relations contact"}],"products":[],"companies":[{"name":"Gold Reserve Ltd.","ticker":"GRZ","relationship":"filer"},{"name":"Venezuela (Bolivarian Republic of Venezuela)","relationship":"litigant whose motion GRZ supports"},{"name":"Elliott/Amber Energy","relationship":"proposed purchaser of PDVH shares"},{"name":"PDVH / Citgo","relationship":"subject of proposed judicial sale"},{"name":"Crystallex International Corporation","relationship":"originating creditor in Delaware proceedings"},{"name":"U.S. Court of Appeals for the Third Circuit","relationship":"appellate court"}],"dollarAmounts":[]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-09T00:10:06.674Z","global_importance":30,"audience_relevance":25,"importance_components":{"tickerTier":"small-cap","eventGravity":"litigation-filing-central-to-claim-value","issuerAuthored":true,"catalystPending":"US Third Circuit filing Oct 13"}},"durationMs":6470,"modelName":"glm-5.3-flashx"}}