[25] Gold Reserve entered into an Advisory Agreement with Endeavour October 1, 2004 (the
"First Advisory Agreement"). Endeavour was paid a monthly fee in exchange for its services
(and ultimately received some $1.2 million over the 2004 to 2008 period), which included
making presentations to potential lenders and investors, advising on potential business
transactions and advising on project debt financing in respect of the Brisas project. Endeavour
was provided access to Gold Reserve's confidential financial, technical, geological and
operational records, analyses and data to enable Endeavour to develop a detailed knowledge of
the potential costs and revenues for Gold Reserve's Brisas Project mining property.
[26] The confidential information included experts’ feasibility studies for the Brisas Project
and back-up details, drill data, ore data, reserves and quality of reserves, engineering, mill design
and throughput data, capital cost information, data regarding mining options, hydrology and
water quality studies, metallurgical reports and data, the Micron International Limited expert
report on Gold Reserve prepared for the banks as potential lenders, SNC-Lavalin's engineering
procurement and construction management work and reports, project start up plans and many
cash flow models.
http://www.goldreserveinc.com/documents/Court%20Ruling%20Feb%2010,%202009.pdf