Gold Reserve Limited — AGM Information 2021

Oct 19, 2021

GOLD RESERVE INC.

999 W. Riverside Ave., Suite 401, Spokane, WA 99201

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN that an annual general meeting (the “ Meeting ”) of the holders (the “ Shareholders ”) of Class A common shares (the “ Class A Shares ”) of GOLD RESERVE INC. (the “ Company ”) will be held at 999 W. Riverside Avenue, Suite 401, Spokane, Washington, USA on Thursday, November 18, 2021 at 9:30 a.m. (Pacific standard time) for the following purposes:

• (1) to elect directors of the Company to hold such positions until the next annual meeting of Shareholders or until their successors are elected and have qualified;

• (2) to appoint PricewaterhouseCoopers LLP as auditors of the Company and to authorize the directors of the Company to fix its remuneration;

• (3) to receive the financial statements of the Company for the year ended December 31, 2020, together with the report of the auditors thereon; and

• (4) to conduct any other business as may properly come before the meeting or any adjournment or postponement thereof.

Registered Shareholders who are unable to attend the Meeting or any adjournment or postponement thereof in person and who wish to ensure that their Class A Shares will be voted are requested to complete, sign and mail the enclosed form of proxy to Proxy Services, c/o Computershare Investor Services, P.O. Box 505000, Louisville, KY 40233. Proxies must be received not later than 48 hours preceding the Meeting or any adjournment or postponement thereof. A form of proxy, proxy statement/information circular (the “ Circular ”), supplemental mailing list return card (the “ Supplemental Mailing List Return Card ”) and a copy of the Company’s 2020 Annual Report (the “ 2020 Annual Report ”) accompany this Notice of Annual General Meeting of Shareholders.

Non-registered Shareholders (for example, those Shareholders who hold Class A Shares in an account with an intermediary), should follow the voting procedures described in the voting instruction form provided by such intermediary or call the intermediary for information as to how to vote their Class A Shares. For further information with respect to Shareholders who own Class A Shares through an intermediary, see “ Voting by Non-Registered Shareholders ” in the accompanying Circular.

The specific details of the matters proposed to be put before the Meeting are set forth in the accompanying Circular.

This Notice of Annual General Meeting of Shareholders, the 2020 Annual Report and Supplemental Mailing List Return Card are being mailed or made available to Shareholders entitled to vote at the Meeting, on or about October 14, 2021.

The Board of Directors has fixed the close of business on Tuesday, October 5, 2021 as the record date for the determination of Shareholders entitled to notice of the Meeting and any adjournment or postponement thereof.

DATED this 7[th] day of October, 2021

BY ORDER OF THE DIRECTORS

Rockne J. Timm, Chief Executive Office