Gold Reserve Adds Senior Technical Professionals for Engineering, Design and Construction

    SPOKANE, WA, April 25 /CNW/ - Gold Reserve Inc. (TSX: GRZ - AMEX:  GRZ) is
pleased to announce the addition of Len Anderson as Senior Process Engineer
and Richard Lamont as Senior Project Engineer to work on engineering, design
and construction related activities for the Company's Brisas Project in
Venezuela. Len and Richard report directly to Doug Stewart, Vice President of
Project Development for Gold Reserve. They are currently working with Gold
Reserve's EPCM contractor, SNC Lavalin, in Toronto.
    Len Anderson has over 30 years of experience in the minerals industry
with such companies as Southern Peru Copper, P.T. Freeport Indonesia, and BHP
Utah. He held key roles in several world class copper project developments
including the initial phase of La Escondida, Freeport C3, and the Cuajone 96K
Expansion at Southern Peru. He was most recently providing technical
professional consulting services to Kennecott Utah Copper. During his career,
Len has held positions of Operations Supervisor, Process Engineer, Chief
Metallurgist, and Project Manager. Len has a Masters Degree and Bachelor's of
Applied Science degree in Mineral Engineering from the University of B.C. in
Vancouver, B.C. and a Diploma of Technology in Mining from the B.C. Institute
of Technology. Len is a Registered Professional Engineer in B.C.
    Richard Lamont has over 18 years of experience in project engineering,
project management and overseeing major equipment installations in mining and
other similar industrial applications. He has worked with such companies as
Commonwealth Construction, Allegheny Technologies, Peter Kiewit, Pegasus Gold
Corporation and Weyerhaeuser Corporation. Richard has held such positions as
Project Engineer, Project Manager, Construction Manager and Maintenance
Manager. His project accomplishments include Newmont Gold ROTP, Eskay Creek
Gold Mine, Florida Canyon Gold Mine Expansion and the Nike World Campus NW
Expansion. Richard has a Bachelor's of Applied Science in Mechanical
Engineering from the University of B.C. in Vancouver, B.C. and he practiced as
a Professional Engineer in B.C.
    Gold Reserve president Doug Belanger said, "I am excited about the depth
of experience Len and Richard bring to Gold Reserve as we move into a new era
with the development and construction of the Brisas Project."

    Gold Reserve Inc. is a Canadian company developing the Brisas gold copper
project in Southeastern Venezuela. Brisas has NI-43-101 reserves of
485 million tonnes of ore grading 0.67 grams per tonne gold and 0.13% copper
containing 10.4 million ounces of gold and 1.3 billion pounds of copper (using
a revenue cutoff grade of US $3.04 per tonne and a gold price of US $400 and a
copper price of US $1.15 per pound). The Company expects to finance the
construction of Brisas with a combination of debt and equity. The mine plan
anticipates using conventional truck and shovel mining methods with the
processing of ore at full production of 70,000 tonnes per day, yielding an
average annual production of 456,000 ounces of gold and 60 million pounds of
copper for a mine life of 18.5 years. Using copper as a byproduct, operating
costs are expected to be US $126 per ounce (using US $470 per ounce of gold
and US $1.80 per pound of copper). The Qualified Personnel for the NI 43-101
Report are Susan Poos of Marston, Richard Addison of Pincock, Allen and Holt
(PAH), and Richard Lambert of PAH, all registered professional engineers.
    With only 42.6 million shares outstanding Gold Reserve has one of the
highest leverages to gold in the mining industry. The Company currently has
US $22 million in cash and investments and no debt. For more detailed
information please see the news release from November 13, 2006 representing an
update to the Company's NI-43-101 report. This can be obtained at our website
at or

    Certain statements included herein, including those that express
management's expectations or estimates of our future performance, constitute
"forward looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995. Forward looking statements are
necessarily based upon a number of estimates and assumptions that, while
considered reasonable by management are inherently subject to significant
business, economic and competitive uncertainties and contingencies. We caution
that such forward-looking statements involve known and unknown risks,
uncertainties and other risk factors that may cause the actual financial
results, performance, or achievements of Gold Reserve to be materially
different from our estimated future results, performance, or achievements
expressed or implied by those forward looking statements. These are discussed
in greater detail in Gold Reserve's filings with the U.S. Securities and
Exchange Commission at and the Annual Information Form and other
reports filed with Canadian provincial securities commissions at Gold Reserve expressly disclaims any intention or obligation to
update or revise any forward looking statement whether as a result of new
information, events or otherwise.

For further information:

For further information: Internet -; A. Douglas
Belanger, President, 926 W. Sprague Ave., Suite 200, Spokane, WA, 99201, USA,
Tel. (509) 623-1500, Fax (509) 623-1634

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