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PEMBROKE, Bermuda – Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) today announced that its Board of Directors has appointed Michael Johnston as its new Chief Executive Officer, effective immediately. Mr. Johnston succeeds Robert Cohen, who is stepping down from his role as Chairman and Director after many years of commitment to the Company. Mr. Johnston’s appointment was approved at the Company’s regular Board of Directors meeting on November 13, 2025.
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Mr. Johnston, a long-time board member of the company, brings extensive business and strategic decision-making experience. As Chairman, he will work closely with the Board and senior management to advance Gold Reserve’s strategic objectives.
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“We are pleased to welcome Michael as our new Chairman,” said Paul Rivett, Chief Executive Officer of Gold Reserve. “His in-depth knowledge of our business and proven leadership skills make him ideally suited to lead the Board as we continue to implement our strategy.”
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Mr. Rivett also expressed the Company’s appreciation to Robert Cohen for his years of service on the Board and his leadership as Chairman. “On behalf of the entire company, we thank Robert for his outstanding service as chairman and director,” added Mr. Rivett.
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On behalf of the board
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Michael Johnston, CEO
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Cautionary Statement Regarding Forward-Looking Statements
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This press release contains “forward-looking statements” within the meaning of applicable U.S. federal securities laws and “forward-looking information” within the meaning of applicable Canadian provincial and territorial securities laws, as well as the intentions, hopes, beliefs, expectations or predictions of the State Gold Reserve and its management for the future. Forward-looking statements are necessarily based on a number of estimates and assumptions that, although management believes to be reasonable at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. They are often identified by words such as “anticipates,” “plans,” “continue,” “expects,” “projects,” “intends,” “believes,” “anticipates,” “estimates,” “may,” “will,” “potential,” “proposed,” “positioned” and other similar words or statements that certain events or conditions “may” or “will” occur.
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Such information and statements may reflect the current views of the Company’s management with respect to future events and are based on information currently available to the Company and are subject to certain risks, uncertainties and assumptions, including those discussed below. Many factors could cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking information or statements. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking information or statements prove incorrect, actual results may differ materially from those intended, planned, expected, believed, estimated or anticipated as described herein.
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Investors are cautioned not to place undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to Gold Reserve or persons acting on its behalf are expressly qualified in their entirety by this release. Gold Reserve disclaims any intention or obligation to publicly update or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, subject to its disclosure obligations in accordance with the applicable rules promulgated by the applicable securities laws of the Canadian provinces and territories.
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NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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Further information about Gold Reserve Ltd. can be found at https://www.goldreserve.bm.
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View source version on businesswire.com:
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https://www.businesswire.com/news/home/20251117280363/en/
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AS Cooper Building, 7th Floor, 26 Reid Street, Hamilton, HM 11, Bermuda
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