SPOKANE, WA, Jan. 8 /CNW/ - Gold Reserve Inc. (NYSE Alternext: GRZ) (TSX:
GRZ) ("Gold Reserve" or the "Company") today announced that a Judge of the
Ontario Superior Court of Justice has fixed Wednesday, February 4, 2009 as the
hearing date for Gold Reserve's injunction motion (the "Injunction"). The
Injunction seeks, among other things: (a) to restrain Rusoro Mining Ltd.
(TSX-V: RML) ("Rusoro") from proceeding with Rusoro's unsolicited offer of
December 15, 2008 (the "Offer") to acquire all of the outstanding shares and
equity units of Gold Reserve; and (b) to compel Endeavour Financial
International Corporation to return to Gold Reserve confidential information
relating to Gold Reserve's business.

In Rusoro's press release dated Monday, January 5, 2009, Rusoro
acknowledged that it had accessed Gold Reserve's Choco 5 property. Gold
Reserve did not authorize such access. Gold Reserve still has not been
provided the confidential information regarding Choco 5 that Rusoro obtained
without permission.