Gold Reserve Announces Signing of Definitive Restructuring Agreement in Connection with its 5.50% Senior Subordinated Convertible Notes due 2022

bwire






SPOKANE, Wash. (Business Wire) -- Gold Reserve Inc. (TSX VENTURE:GRZ) (NYSE MKT:GRZ) (the "Company") is
pleased to announce that further to its news release dated May 17, 2012,
it has entered into a definitive agreement generally encompassing the
terms described in such news release (the "Restructuring Agreement")
with the three largest holders (the "Large Noteholders") of its 5.50%
Senior Subordinated Convertible Notes due 2022 (the "Notes") in
connection with the proposed restructuring of the Notes (the "Proposed
Restructuring"). The Large Noteholders hold 87.8% of the outstanding
Notes.