Jaguar-Portland holdings acquires additional shares of Gold Reserve

NEW YORK, Feb. 24 /CNW/ - Jaguar-Portland Holdings LLC ("Jaguar-Portland") announced that it has acquired ownership of an additional 1,000,000 common shares of Gold Reserve Inc. (the "Company"). After such acquisition, Jaguar-Portland has ownership and control of 7,297,823 common shares of the Company, which represent 12.65% of the issued and outstanding common shares of the Company.

The common shares referred to above were acquired for investment purposes and Jaguar-Portland may, depending on market and other conditions, increase or decrease its beneficial ownership of common shares of the Company whether in the open market, by privately negotiated agreement or otherwise.

SOURCE JAGUAR-PORTLAND HOLDINGS LLC

For further information: For further information: Jaguar-Portland Holdings LLC is located at 1370 Avenue of the Americas, 19th Floor, New York, New York 10019

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JAGUAR-PORTLAND HOLDINGS LLC

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