Gold Reserve Inc.

Mr. Timm became an officer and Director in 1984. Since 1988 he was the Chairman of the Board, President and CEO. Since January 2004 he is CEO and a Director of the Company. He served as a Financial Officer, Vice President of Finance, Treasurer and Chief Financial Officer of Pegasus Gold Inc. from 1981 to 1987. Mr. Timm is also President and Director of Great Basin Energies, Inc., President and Director of MGC Ventures, Inc. and Director and Executive Officer of each of the company’s foreign subsidiaries. He is a certified public accountant.

Mr. Belanger became an officer in 1984 and in 1988 became Executive Vice President and Director. In January 2004 he became President of the Company. Mr. Belanger served as Vice President for Corporate Affairs of Pegasus Gold Inc. from April 1982 to June 1987. Prior to 1982, Mr. Belanger was a gold mining analyst with Burns Fry Limited of Toronto and Pemberton Securities of Vancouver. He also has several years’ experience as a field geologist with various major Canadian mining companies. Mr. Belanger serves as Vice President and Director of Great Basin Energies Inc. and MGC Ventures, Inc., and is Director and Executive Officer of each of the Company’s foreign subsidiaries.

Mr. Rivero became President of Gold Reserve de Venezuela in April 2001. He has been employed with Gold Reserve since October 1996, most recently as Vice President Project Development. He has 20 years of experience in mining operations and engineering projects including various positions in the Venezuelan Ministry of Energy and Mines. He has served as Manager of Production and Engineering for CVG-Minerven and has served as director of MRP Recuper, TMA and Geoprocesa. Mr. Rivero has a bachelor’s degree in Metallurgical Engineering and a master’s degree in Mineral Economics from the Colorado School of Mines.

Mr. Geyer became Senior Vice President in January 1997 and Director in June 1997. During the previous 10 years, Mr. Geyer was employed by Pegasus Gold Inc., most recently as Vice President of Operations. Mr. Geyer was responsible for six mines producing over 500,000 ounces of gold annually and several development projects. Mr. Geyer has 25 years experience in underground and open pit mining and has held various engineering and operations positions with AMAX and ASARCO. Mr. Geyer has a Bachelor of Science in Mining Engineering from Colorado School of Mines.

Mr. McGuinness became Vice President of Finance in March 1993 and Chief Financial Officer in June 1993. During the previous three years, Mr. McGuinness was Vice President of Finance for Millisat Holdings Inc., a subsidiary of Millicom Inc. Prior to 1990 Mr. McGuinness served as a financial officer for several domestic and internationally based companies specializing in telecommunications, electronics and biotechnology. He also serves as Vice President of Finance, Chief Financial Officer and Treasurer of Great Basin Energies, Inc. and MGC Ventures, Inc. Mr. McGuinness is a certified public accountant.

Mr. Stewart became Vice President of Project Development in April 1997. During the previous six years Mr. Stewart was employed by Pegasus Gold Inc., most recently as General Manager of the Florida Canyon Mine in Nevada. Mr. Stewart has over 28 years experience in the mining industry that includes various management positions with FMC Corporation, Getty Oil Minerals Division, Consolidation Coal Company and AMAX Coal Company. Mr. Stewart has Bachelor of Science degree in Mining Engineering from South Dakota School of Mines and Technology.

Ms. Smith became Vice President of Administration in January 1997 and Secretary in June 1997. During the previous years Ms. Smith was employed by Pegasus Gold Inc., most recently as Manager of Compensation and Benefits. Ms. Smith has over 10 years experience in employee benefits and salary administration and over20 years experience in the mining industry. She also serves as Vice President of Administration and Secretary of Great Basin Energies Inc. and MGC Ventures, Inc.

Mr. Mikkelsen has been a principle in the accounting firm of McDirmid, Mikkelsen & Secrest, P.S., since 1976. He is a certified public accountant with an extensive background in providing operational and tax advice to a wide variety of clients and businesses. Mr. Mikkelsen also serves as a Director of Great Basin Energies, Inc. and MGC Ventures, Inc.

Mr. Potvin is a founder of Tiomin and has been Chief Executive Officer and a Director since its inception in 1992. From 1981 until 1994, Mr. Potvin was a Director and Vice-President of Burns Fry Limited (now Nesbitt Burns Inc.) where he evaluated world-wide mining investment opportunities. He has also been involved in securing senior financing for a number of North American gold producers. From 1989 Mr. Potvin was President and Chief Executive Officer of Pangea Goldfields Inc., which had extensive holdings in Tanzania, until its acquisition in July 2000 by Barrick Gold Corporation for $204 million. Currently Mr. Potvin is the Chairman, Chief Executive Officer and President of Tiomin Resources Inc., and of its wholly owned subsidiary, Tiomin Kenya Limited. He serves as a Director of Azimut Exploration Inc., Gobimin Inc., Gold reserve Inc., Polaris Geothermal Inc.

Mr. McChesney was Chief Financial Officer of Gold Reserve from August 1988 to June 1993. From June 1983 to June 1987 he was Controller of Pegasus Gold Inc. Mr. McChesney became a Director of Gold Reserve in August 1988. Mr. McChesney also serves as Director of MGC Ventures, Inc. and Great Basin Energies, Inc. Mr. McChesney is a certified public accountant.