will be spending hard to find dollars in court.!!!!!

Gold Reserve faces Rusoro counterclaim for stopping bid

Gold Reserve Inc (C:GRZ)
Shares Issued 57,619,291
Last Close 3/31/2009 $0.85
Wednesday April 01 2009 - News Release

Also Rusoro Mining Ltd (C:RML) News Release

Mr. Doug Belanger reports

GOLD RESERVE PROVIDES LITIGATION UPDATE

Rusoro Mining Ltd. has filed in the Ontario Superior Court of Justice a statement of defence and counterclaim to an action filed Dec. 16, 2008, by Gold Reserve Inc. against Rusoro Mining and Endeavour Financial International Corp.

The action filed by the company in December, 2008, sought an injunction restraining Rusoro Mining and Endeavour Financial from proceeding with Rusoro Mining's unsolicited offer which was granted by the courts on Feb. 10, 2009, monetary damages of $550-million, and various other items.

In the statement of defence and counterclaim, Rusoro Mining denies the company's claims and counterclaims against the company for, among other things, damages of $102.5-million allegedly arising from the company's successful motion for an interlocutory injunction restraining Rusoro Mining from making a hostile takeover bid for the company.

Rusoro Mining further states, "Rusoro has suffered damages as a result of the interlocutory injunction including, but not limited to, the lost opportunity to acquire Gold Reserve based on an exchange of three Rusoro shares for each share of Gold Reserve, and the costs associated with the Rusoro offer, all of which have been thrown away as a result of the interlocutory injunction and for all of which Gold Reserve is liable," and "Rusoro has also suffered damages as a result of Gold Reserve's failure to restore to its previous state the land it used to access its Choco 5 property."

Doug Belanger, president of Gold Reserve, said: "Regarding the interlocutory injunction, we presented our case and they presented theirs and the judge ordered the interlocutory injunction. In respect of their claim for the lost opportunity to acquire the company, it is important to note that less than 3 per cent of our shareholders tendered to their offer."

Regarding the above noted claims the company will take the appropriate legal actions and defend against these matters.