Pau,

Knowledge is power, the lack thereof is defeat.

Let me share the knowledge:

Excerpts from RPA NI 43-101 Report FROM March 2018

TECHNICAL REPORT ON THE SIEMBRA MINERA PROJECT, BOLIVAR STATE, VENEZUELA

… Most of the large-scale exploration work at Cristinas was performed by Placer Dome Inc. (Placer), which worked on the property from 1991 to 2001. At Brisas, GRI carried out the exploration program on the concession from 1992 to 2005. The most recent Technical Report for Cristinas is dated November 7, 2007, which is based on a feasibility study and includes historic mineral reserves. The most recent Technical Report for Brisas is dated March 31, 2008, which is also based on a feasibility study and includes historic mineral reserves.

RPA has relied on data derived from work completed by previous owners on the Cristinas concessions and by GRI on the Brisas concessions. The current resources for Cristinas were estimated by RPA based on the drill hole data supplied by Corporación Venezolana de Guayana (CVG) to GRI in 2002. The database had 1,174 drill holes and 108 trenches which were included in the Cristinas database. Hard copies of the assay data sheets were not available, however, GEOLOG data files from Placer were provided including assay data, geological descriptions, structural data, geotechnical data, and check sample data.

This report is considered by RPA to meet the requirements of a Preliminary Economic Assessment (PEA) as defined in Canadian NI 43-101 regulations. The mine plan and economic analysis contained in this Technical Report are based, in part, on Inferred Mineral Resources, and are preliminary in nature. Inferred Mineral Resources are considered too geologically speculative to have mining and economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that economic forecasts on which this PEA is based will be realized.

GEOLOGY AND MINERAL RESOURCES

•             The geology of the deposit is well understood in general. RPA is of the opinion that the distribution of high-grade areas in the Main Zone should be studied in more detail.

•             The drill hole information collected by Placer and GRI was merged into one master database that was then used to prepare the Mineral Resource estimate. Additional drill hole information collected by Crystallex International Corporation (Crystallex) on the Cristinas concessions could not be used to prepare the current estimate of the Mineral Resources, as the detailed information required was not available. The drill hole data from Placer contained drilling information and analytical results up to 1997 while the drill hole data from GRI included information up to 2006.

•             In RPA’s opinion, the drill hole data is adequate for use in the preparation of Mineral Resource estimates.

NOTE: As RPA noted above: The mine plan and economic analysis contained in this Technical Report are based, in part, on Inferred Mineral Resources, and are preliminary in nature. Inferred Mineral Resources are considered too geologically speculative to have mining and economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that economic forecasts on which this PEA is based will be realized.

Therefore: The work done by RPA is inadequately adequate to determine the Minerals Resources, since they do not have the detail work done by KRY. Hence, the need for RPA to cover their rear-end by including the above disclaimer.

From Gold Reserve Inc. Interim Consolidated Financial Statements – September 2018

In July 2016, we signed an agreement, whereby Venezuela agreed to pay us the amount of the Award (including interest) and purchase our Mining Data (the "Settlement Agreement"). Under the terms of the Settlement Agreement, as amended, Venezuela agreed to pay the Company $792 million to satisfy the Award and $240 million for the purchase of the Mining Data for a total of approximately $1.032 billion in monthly installments. The first $240 million received by Gold Reserve from Venezuela has been recognized as proceeds from the sale of the Mining Data. The Mining Data, pursuant to the Settlement Agreement, will be turned over to Venezuela upon receipt of the full amount of the Award.

NOTE: Neither GRI nor KRY will give / use the mining data UNTIL THE FULL PAYMENT (AWARD + MINING DATA) is made.

So, there is a lot of speculation and wheel-spinning because people do not know what they are talking about. All you need to know is:

a.- GRI cannot develop the combined Las Brisas and Las Cristinas mine without the FULL AND DETAIL DATA REQUIRED. And they either buy it from KRY do the additional work required, which will take ober three years and $ 200 million to complete,

b.- Neither GRI nor KRY will give / use the mining data until Venezuela pays THE ENTIRE AWARD + MINING DATA.