Gold Reserve announces completion of previously announced equipment sale

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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Gold Reserve announces completion of previously announced equipment sale

posted on Nov 24, 2008 10:05AM

Gold Reserve announces completion of previously announced equipment sale

cnw

SPOKANE, WA, Nov. 24 /CNW/ - Gold Reserve Inc. (TSX:GRZ - AMEX:GRZ) reported today that it has closed the October 10, 2008 announced equipment sale for certain equipment manufactured for the Company's Brisas Project. The Company will recover approximately $19 million of progress payments and the purchaser will assume the Company's remaining payment obligations related to the equipment of approximately $22 million.

Gold Reserve Inc. is a Canadian company, which holds the rights to the Brisas gold/copper project and the Choco 5 gold exploration property in Bolivar State, Venezuela. For the Company's periodic TSX (SEDAR) or SEC (Edgar) filings please visit our website at www.goldreserveinc.com under the Investor Relations section.

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On Behalf of the Board of Directors

Gold Reserve Inc.
A Douglas Belanger, President
>>

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