SPOKANE, WA, Jan. 6 /CNW/ - Gold Reserve Inc. (TSX:GRZ) (AMEX:GRZ) today
announced that it has completed construction of a new healthcare center at
88, Bolivar State, southeastern Venezuela for the benefit of the
communities nearby the Brisas project. At a recent ceremony the clinic was
handed over to the Mission Barrio Adentro Health Program (Mission into the
Neighborhood), a program to provide health and dental care to the poor
initiated by Venezuelan President Chavez.
The Company works closely with the local community on various social
issues and continues to pursue its proposal to the Ministry of Basic
Industries and Mines (MIBAM) to implement a support program within the
framework of Mission Piar, another one of President Chavez's social
initiatives which is directed at local small miners and encompasses technical
assistance and training, mitigating environmental impact as well as
integration of the small miners into the formal economy.
In recognition of its commitment to social issues, the Latin-America
Mining Organization ("OLAMI"), an industry association that represents and
promotes mining in 16 Latin American countries, previously recognized the
Company with a Special Award for Excellence in Social Management during the
pre-operational stage.
Doug Belanger, President, stated, "We are proud to be a supporter of the
local communities and its residents and the recent completion of the new
community healthcare center is an example of our continuing efforts to support
the local communities in which we work."
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. The Brisas Project is estimated to have proven and
probable reserves of 10.1 million ounces of gold and 1.29 billion pounds of
copper contained in 446 million tonnes with an average grade of 0.70 grams per
tonne gold and 0.13% copper. The qualified person involved in the review and
evaluation of the reserve estimates contained herein was Daniel M. Thompson,
Manager - Technical Services for Gold Reserve. Construction of the Brisas
Project is expected to commence upon the issuance of the construction permit
by the Ministry of Environment and Natural Resources and securing sufficient
debt and equity funding.
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 www.sec.gov and the Annual Information Form and other
reports filed with Canadian provincial securities commissions at
www.sedar.com. 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.
