May 13, 2008 
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 Gold Reserve Inc.
 926 W Sprague Ave
 Suite 200
 Spokane, WA 99201

 800.625.9550
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Brisas

Location
The Brisas project site is in:

  • Bolivar State in southeast Venezuela
  • Near the small community of Las Claritas
  • This area, known as the KM 88 Mining District, is approximately 30 km from the border of Guyana.

The site is 373-km southeast of Puerto Ordaz or 88 km south of El Dorado on Highway 10, a paved road. A well-maintained gravel road accesses the property, 3.5 km west of the Kilometer 88 marker post on Highway 10.

The Brisas property occupies a rectangular area of approximately 1,235 acres (500 hectares). The dimensions of the property are 2,500 meters (north-south) by 2,000 meters (east-west). In addition, the Company has obtained 4,950 hectares near Brisas for exploration and infrastructure

Existing Infrastructure

  • Employees of the property: 40
  • Business office building on the Brisas property is used for a business office and accommodates both the engineering and geology departments
    • including a data room for computer input of assay data and geologic interpretation.
  • Sample prep facility used for logging and splitting (diamond saw) core, housing sample prep equipment (including crushers, splitters and drying ovens) and the storage of the project's core and pulp rejects.
  • Additional facilities maintained on the property include an infirmary, maintenance facility, power generating station and a full service camp capable of housing and feeding approximately 55 people.

The Company also maintains an office in Puerto Ordaz employing approximately 32 people for purchasing and expediting supplies to the site, as well as geologists and engineers for environmental permitting and project planning development.

Puerto Ordaz, at the confluence of the Orinoco and Caroni Rivers, is a major industrial center with a population of approximately 1,400,000. It has sea-going port facilities servicing the steel mills, aluminum smelters, and the oil industry in the area. The city is also served daily by regular scheduled flights from Caracas.

The Puerto Ordaz port facilities are mostly dedicated to the local industries shipping raw product and would be utilized to ship copper concentrates produced at Brisas to smelters outside the country. However, it is also capable to accomodate construction, mining and milling equipment for the Brisas Project.

EDELCA (state hydroelectric company) has constructed a 400 kV powerline from Puerto Ordaz through the community of Las Claritas near Highway 10 and into Brazil. The powerline has sufficient low cost power available for Gold Reserve's Brisas project.

Brisas Property: Summary
The Brisas property is a development-stage gold and copper mineralized deposit located in the "Kilometer 88" Mining District of the Bolivar State in southeastern Venezuela. The world-class mineral resource for the Brisas property measures 1.9 kilometers (1.2 miles) along strike and 0.75 kilometers (0.45 miles) wide. Mineralization continues downdip and the deposit is still open to expansion.



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