Brisas hardrock rights advance to final stage.SPOKANE, Wash.--(BUSINESS WIRE)--MARCH 19, 1997--Gold Reserve Corp. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :GLR GLR Great Lakes Region GLR Global Learning Resources, Inc (Fremont, CA) GLR Greater London Radio GLR Generalized Likelihood Ratio GLR Glare GLR Gaylord, Michigan (Airport Code) ; NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :GLDR GLDR Glider ) is pleased to report that the Ministry of Energy and Mines of Venezuela ("MEM") has notified the company that the final public comment or opposition period regarding the company's Veta or hardrock mining title application for gold/copper/molybdenum has ended with no opposition. Also, MEM has completed a topographic survey verifying the company's legal description and map of the hardrock area under application. In accordance with the regulations, the company has submitted an environmental questionnaire to MEM, which is the basis for the company's application for a permit to occupy the territory for the veta or hardrock concession. The company already has the permit to occupy the territory for its Brisas alluvial gold concession and does not anticipate any problems obtaining the permit for the hardrock area below the alluvial concession. After the permit to occupy the territory is granted, the company expects to be granted the veta or hardrock mining title without delay. Gold Reserve is exploring and developing the Brisas property in Southeastern Venezuela. Gold Reserve and its subsidiaries have cash and investments of approximately U.S. $45 million and no long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. . The current estimate of the gold copper deposit is 6.4 million ounces of gold and 800 million pounds of copper contained in the alluvial gold concession and areas under application. The matters discussed in this news release include historical information and forward-looking statements. In accordance with the provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, the company cautions that important factors, as discussed from time to time in the company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other filings with the United State Securities and Exchange Commission, could cause actual results to differ materially from those in the forward-looking statements. -0- Fax on Demand - Current Company and Property Information 800/549-0673 http://www.businesswire.com/cnn/gldr.htm CONTACT: Gold Reserve Corp. A. Douglas Belanger, 509/623-1500 509/623-1634 (fax) |
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