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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 3pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As filed with the Securities and Exchange Commission on July 7, 2014&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registration No. 333-</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 2pt 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">UNITED STATES</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 2pt 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Washington, D.C. 20549</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 6pt" align=center><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">________________________________</FONT></U></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 4pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">FORM S-8</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 4pt 0in 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">GOLD RESERVE INC.</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(Exact name of registrant as specified in its charter)</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Yukon Territory, Canada<BR></FONT></B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(State or other jurisdiction of</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 6pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">incorporation or organization)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="50%">

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">N/A</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(I.R.S. Employer Identification No.)</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">926 West Sprague Avenue</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Suite 200</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 2pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Spokane, Washington</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(Address of Principal Executive Offices)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">99201</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(Zip Code)</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">&nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face="times new roman">GOLD RESERVE INC.&nbsp; 2012 EQUITY INCENTIVE PLAN</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 6pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face="times new roman">(Full title of the plan)</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Agent for service</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">:&nbsp;</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 2pt 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Rockne J. Timm</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 2pt 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">926 West Sprague Avenue, Suite 200</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 2pt 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Spokane, Washington 99201</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(509) 623-1500</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(Name, address and telephone number,</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 2pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">including area code)</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Copy to:</FONT></I></P>

<P style="TEXT-ALIGN: center; MARGIN: 2pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Jonathan B. Newton</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Baker &amp; McKenzie LLP</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bank of America Center</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">700 Louisiana, Suite 3000</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Houston, Texas 77002</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(713) 427-5000</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b-2 of the Exchange Act. </FONT></P>

<P style="MARGIN: 2pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Large&nbsp;accelerated&nbsp;filer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=wingdings>&#168;</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Accelerated&nbsp;filer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=wingdings>x</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Non-accelerated filer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=wingdings>&#168;</FONT><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;(Do not check if a smaller reporting company)</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Smaller&nbsp;reporting&nbsp;company</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=wingdings>&#168;</FONT></P></TD></TR></TABLE></DIV>

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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:2.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">CALCULATION OF
REGISTRATION FEE</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:2.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border:none;border-collapse:collapse;margin-left:0pt;width:587.000000pt;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=33% style="border-left:double black 2pt;border-right:solid black 1.0pt;border-top:double black 2pt;padding:0in 6.95pt 0in 6.95pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:2.0pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Title of each class of securities to be registered<sup>(1)</sup></font></b></p>
  </td>
 <td valign=bottom width=19% style="border-right:solid black 1.0pt;border-top:double black 2pt;padding:0in 6.95pt 0in 6.95pt;">
  <p align=center style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Amount to be registered</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-right:solid black 1.0pt;border-top:double black 2pt;padding:0in 6.95pt 0in 6.95pt;">
  <p align=center style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Proposed maximum offering price per share<sup>(2)</sup></font></b></p>
  </td>
 <td valign=bottom width=18% style="border-right:solid black 1.0pt;border-top:double black 2pt;padding:0in 6.95pt 0in 6.95pt;">
  <p align=center style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Proposed maximum aggregate offering price</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-right:double black 2pt;border-top:double black 2pt;padding:0in 6.95pt 0in 6.95pt;">
  <p align=center style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Amount of registration fee</font></b></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=33% style="border:solid black 1.0pt;border-left:double black 2pt;padding:0in 6.95pt 0in 6.95pt;">
  <p style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">Class A Common Shares,
  no par value (including the associated Share Purchase Rights)<sup>(3)</sup></font></p>
  </td>
 <td valign=top width=19% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid black 1.0pt;padding:0in 6.95pt 0in 6.95pt;">
  <p align=center style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">1,562,753 Shares</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid black 1.0pt;padding:0in 6.95pt 0in 6.95pt;">
  <p align=center style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">$3.39</font></p>
  </td>
 <td valign=top width=18% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid black 1.0pt;padding:0in 6.95pt 0in 6.95pt;">
  <p align=center style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">$ 5,297,733</font></p>
  </td>
 <td valign=top width=14% style="border-bottom:solid black 1.0pt;border-right:double black 2pt;border-top:solid black 1.0pt;padding:0in 6.95pt 0in 6.95pt;">
  <p align=center style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">$ 682.35</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(1)&#160;&#160; Class A Common Shares, no par
value per share (the &#8220;Class A Common Shares&#8221;), of Gold Reserve Inc. (the
&#8220;Company&#8221;) being registered hereby related to the Gold Reserve Inc. 2012 Equity
Incentive Plan (the &#8220;2012 Plan&#8221;).&#160; Pursuant to Rule 416 under the Securities
Act of 1933, as amended (the &#8220;Securities Act&#8221;), this Registration Statement
also covers an indeterminable number of additional Class A Common Shares as may
be offered or issued to prevent dilution as a result of any stock dividend, stock
split, recapitalization, or other similar transaction.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(2)&#160;&#160; Estimated solely for the purpose
of calculating the registration fee pursuant to Rule 457(c) and (h) promulgated
under the Securities Act on the basis of the average of the high and low sales
prices of the Class A Common Shares on July 3, 2014, as quoted on the OTCQB
marketplace.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(3)&#160;&#160; Each Class A Common Share
registered hereunder includes an associated right to purchase from the Company
one additional Class A Common Share (the &#8220;Purchase Rights&#8221;) pursuant to the
Company&#8217;s amended and restated shareholder rights plan agreement, dated as of
June 11, 2009, as amended on June 27, 2012 (the &#8220;Rights Plan&#8221;). The Purchase
Rights are not exercisable until the occurrence of events specified in the
Rights Plan and are transferrable solely with the associated Class A Common
Shares. The value attributable to the Purchase Rights, if any, is reflected in
the value of the associated Class A Common Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">IMPORTANT NOTICE</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;text-transform:uppercase;">THESE Securities are being offered to investors
in the United States of America, other than in the states of Montana, New Hampshire and North Dakota.</font></p>

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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">PART I</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">INFORMATION REQUIRED IN THE SECTION
10(a) PROSPECTUS</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>

<p align=left style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The documents containing the information specified in
Part&nbsp;I of this Registration Statement on Form S-8 will</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;">be sent or given to the participants in the Gold
Reserve Inc. 2012 Equity Incentive Plan (the &#8220;Plan&#8221;) as specified by Rule
428(b)(1) of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;).&#160; In
accordance with the instructions to Part&nbsp;I of this Registration Statement
on Form S-8, such documents will not be filed with the Securities and Exchange
Commission (the &#8220;Commission&#8221;). These documents and the documents incorporated
by reference pursuant to Item&nbsp;3 of Part&nbsp;II of this Registration
Statement on Form S-8, taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Securities Act.</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">PART II</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Item 3.&#160;&#160; Incorporation of Documents
by Reference.</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
following documents filed by Gold Reserve Inc. (the &#8220;Company&#8221;) with the
Commission are hereby incorporated by reference into this Registration
Statement on Form S-8:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=left style="line-height:normal;margin-bottom:3.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The Company&#8217;s Annual Report on Form 40-F, for the Company&#8217;s
fiscal year ended December 31, 2013, filed with the Commission on April 29,
2014;</font></p>

<p align=left style="line-height:normal;margin-bottom:3.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The description of Capital Stock set
forth in the Company&#8217;s Registration Statement on Form F-10 (File No.
333-142655) filed with the Commission on May 7, 2007;</font></p>

<p align=left style="line-height:normal;margin-bottom:10.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The description of the Purchase Rights registered hereby
contained in the Company&#8217;s Report of Foreign Private Issuer on Form 6-K
furnished with the Commission on May 14, 2009, as amended by the Company&#8217;s
Report of Foreign Private Issuer on Form 6-K furnished to the Commission on June
4, 2012.</font></p>

<p align=left style="line-height:normal;margin-bottom:10.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">All other reports filed pursuant to
Section 13(a) or 15(d) of the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Securities Exchange Act of 1934, as
amended (the &#8220;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Exchange Act&#8221;) </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(except that any
portions thereof which are furnished and not filed shall not be deemed
incorporated) </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">since the end of the fiscal year
covered by the Form 40-F mentioned above;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and</font></p>

<p align=left style="line-height:normal;margin-bottom:10.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">All other documents subsequently filed by the Company pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (except that any
portions thereof which are furnished and not filed shall not be deemed
incorporated), and certain Reports on Form 6-K furnished by the Company (which
indicate on their cover pages that they are incorporated herein by reference),
prior to the filing of a post&#8209;effective amendment to this Registration
Statement on Form S-8 which indicates that all securities offered hereunder
have been sold or which deregisters all Class A Common Shares then remaining
unsold.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">Item 4.&#160;&#160; Description of Securities.</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Not applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">Item 5.&#160;&#160; Interest of Named Experts and Counsel.</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Not applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:1.5pt;text-align:justify;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Item 6.&#160;&#160; Indemnification of Directors and Officers.&#160; </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:1.5pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The only statutes, charter provisions, bylaws,
contracts or other arrangements under which a director or officer of the
Company is insured or indemnified in any manner against liability which such
officer of director may incur in such capacity is Section 126 of the Business
Corporations Act under the Revised Statutes of the Yukon 2002 (the &#8220;Act&#8221;),
Sections 7.02 through 7.04 of the Company&#8217;s bylaws, as well as indemnity
agreements between the Company and its directors and officers. Taken together,
the statutory and bylaw provisions generally allow the Company to indemnify its
directors or officers against liability and expenses if the officer or director
seeking indemnity (a) acted honestly and in good faith with a view to the best
interests of the Company, and (b) in the case of a criminal or administrative
action or proceeding that is enforced by a monetary penalty, the officer or
director had reasonable grounds for believing his conduct was lawful. Such
statutory and bylaw provisions also allow </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">officers and
directors to seek indemnity if they have (i) fulfilled the requirements for (a)
and (b), (ii) are fairly and reasonably entitled to indemnity, and (iii) were
substantially successful on the merits in the defense of the action or
proceeding. The officer and director indemnity agreements generally indemnify
the directors and officers against all liabilities and expenses by reason of
his/her position and are subject to the statutory and bylaw provisions noted
above.</font></p>
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<p style="margin:0in;margin-bottom:1.5pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:1.5pt;page-break-after:avoid;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Section 126 of the Yukon Business Corporations Act</font></b></p>

<p style="margin:0in;margin-bottom:1.5pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:1.5pt;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Section
126 of the Yukon Business Corporations Act is set forth in its entirety as
follows. All capitalized terms used herein but not otherwise defined shall have
the meanings as set forth in the Act.</font></i></p>

<p style="margin:0in;margin-bottom:1.5pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">126(1)&nbsp;&nbsp; Except
in respect of an action by or on behalf of the corporation or body corporate to
procure a judgment in its favor, a corporation may indemnify directors or
officers of the corporation, former directors or officers of the corporation or
persons who act or acted at the corporation&#8217;s request as directors or officers
of a body corporate of which the corporation is or was a shareholder or
creditor, and their heirs and legal representatives, against all costs, charges
and expenses, including an amount paid to settle an action or satisfy a
judgment, reasonably incurred by them in respect of any civil, criminal or
administrative action or proceeding to which they are made party because they
are or have been directors or officers of that corporation or body corporate,
if:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; they acted
honestly and in good faith with a view to the best interests of the
corporation; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in the case of
a criminal or administrative action or proceeding that is enforced by a
monetary penalty, they had reasonable grounds for believing that their conduct
was lawful.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A corporation
may with the approval of the Supreme Court indemnify persons referred to in
subsection (1) in respect of an action by or on behalf of the corporation or
body corporate to procure a judgment in its favor, to which they are made party
by reason of being or having been directors or officers of the corporation or
body corporate, against all costs, charges and expenses reasonably incurred by
them in connection with the action if they fulfill the conditions set out in
paragraphs (1)(a) and (b).</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Despite
anything in this section, persons referred to in subsection (1) are entitled to
indemnity from the corporation in respect of all costs, charges and expenses
reasonably incurred by them in connection with the defense of any civil,
criminal or administrative action or proceeding to which they are made party
because they are or have been directors or officers of the corporation or body
corporate, if the person seeking indemnity:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; was substantially
successful on the merits in the defense of the action or proceeding;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; fulfills the
conditions set out in paragraphs (1)(a) and (b); and</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; is fairly and
reasonably entitled to indemnity.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A corporation
may purchase and maintain insurance for the benefit of any person referred to
in subsection (1) against any liability incurred by them:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in their
capacity as a director or officer of the corporation, except when the liability
relates to their failure to act honestly and in good faith with a view to the
best interests of the corporation; or</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in their
capacity as a director or officer of another body corporate if they act or
acted in that capacity at the corporation&#8217;s request, except when the liability
relates to their failure to act honestly and in good faith with a view to the
best interests of the body corporate.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A corporation
or a person referred to in subsection (1) may apply to the Supreme Court for an
order approving an indemnity under this section and the Supreme Court may so
order and make any further order it thinks fit.</font></p>

<p style="margin:0in;margin-bottom:1.5pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(6)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On an
application under subsection (5), the Supreme Court may order notice to be
given to any interested person and that person is entitled to appear and be
heard in person or by counsel.</font></p>

<p style="margin:0in;margin-bottom:1.5pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

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<p style="margin:0in;margin-bottom:1.5pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Bylaws of Gold Reserve
Inc.</font></b></p>

<p style="margin:0in;margin-bottom:1.5pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:1.5pt;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Sections
7.02 through 7.04 of the Company&#8217;s bylaws are set forth in their entirety as
follows. All capitalized terms used herein but not otherwise defined shall have
the meanings as set forth in the Company&#8217;s bylaws. </font></i></p>

<p style="margin:0in;margin-bottom:1.5pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">7.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Limitation of Liability</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the Act, no director or officer, or former director or officer, of
the Corporation shall be liable for the acts, receipts, neglects or defaults of
any other director or officer or employee, or for the joining in any receipt or
act for conformity, or for any loss or damage or expense happening to the
Corporation through the insufficiency or deficiency of title to any property
acquired by the Corporation or for or on behalf of the Corporation or for the
insufficiency or deficiency of any security in or upon which any of the money
of or belonging to the Corporation shall be placed or invested, or for any loss
or damage arising from the bankruptcy, insolvency or tortious act of any
person, firm or corporation including any person, firm or corporation with whom
or with which any moneys, securities or effects shall be lodged or deposited,
or for any loss, conversion, misapplication or misappropriation of or any
damage resulting from any dealing with any moneys, securities or other assets
of or belonging to the Corporation or for any other loss, damage or misfortune
whatsoever which may happen in the execution of the duties of his respective
office or trust or in relation thereto unless the same shall happen by or
through his failure to exercise the powers and to discharge the duties of his
office honestly and in good faith with a view to the best interest of the
Corporation and to exercise the care, diligence and skill that a reasonably
prudent person would exercise in comparable circumstances. Any repeal or
modification of the foregoing provisions of this paragraph 7.02 shall not
adversely affect any limitation on the personal liability of a director or
officer of the Corporation arising from an act or omission occurring prior to
the time of such repeal or amendment. In addition to the circumstances in which
a director or officer of the Corporation is not personally liable as set forth
in the foregoing provisions of this paragraph 7.02, a director or officer shall
not be liable to the Corporation or its shareholders to such further extent as
permitted by any law hereafter enacted, including, without limitation, any
subsequent amendment to the Act.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">7.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Indemnity</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the Act, the Corporation shall indemnify a director or officer, a
former director or officer, and a person who acts or acted at the Corporation&#8217;s
request as a director or officer of a body corporate of which the Corporation
is or was a shareholder or creditor, and his heirs and legal representatives,
against all costs, charges and expenses, including any amount paid to settle an
action or satisfy a judgment, reasonably incurred by him in respect of any
civil, criminal or administrative action or proceeding to which he is made a
party by reason of being or having been a director or officer of the
Corporation or such body corporate, if:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; he acted
honestly and in good faith with a view to the best interests of the
Corporation; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-indent:-1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in the case of
a criminal or administrative action or proceeding that is enforced by a
monetary penalty, he had reasonable grounds for believing his conduct was
lawful.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Corporation shall indemnify the directors and officers of the Corporation
to the fullest extent permitted by law. The Corporation may indemnify any
employee or agent of the Corporation to the fullest extent permitted by law. In
addition to the circumstances in which a director or officer of the Corporation
is indemnified as set forth in the foregoing provisions of this paragraph 7.03,
a director or officer shall be indemnified by the Corporation to such further
extent as permitted by any law hereafter enacted, including, without
limitation, any subsequent amendment to the Act.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">7.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Insurance</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Corporation may, subject to and in accordance with the Act, purchase and
maintain insurance for the benefit of any director or officer, or former
director or officer, of the Corporation as such against any liability incurred
by him. The Corporation may provide such insurance to directors and officers
regardless of whether such directors and officers are indemnified pursuant to
paragraph 7.03 above.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:1.5pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Insurance Policies for Directors and Officers</font></b></p>

<p style="margin:0in;margin-bottom:1.5pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:1.5pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The Company also maintains insurance for the benefit
of its directors and officers against liability in their respective capacities
as directors and officers. The directors and officers are not required to pay
any premium in respect of this insurance. The policy contains various industry
exclusions and no claims have been made thereunder to date. Insofar </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons
of the registrant pursuant to any charter provision, bylaw, contract,
arrangement, statute or otherwise, the Company has been advised that in the
opinion of the SEC such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable.</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:1.5pt;page-break-after:avoid;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">Item 7.&#160;&#160; Exemption
from Registration Claimed.</font></b></p>

<p style="margin:0in;margin-bottom:1.5pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Not
applicable.</font></p>

<p style="margin:0in;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Item 8.&#160;&#160; Exhibits.</font></b></p>

<p style="margin:0in;margin-bottom:10.0pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
following are filed as exhibits to this Registration Statement: </font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:6.0pt;width:493.000000pt;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=11% style="padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:8.0pt;margin-left:0pt;margin-right:0pt;margin-top:0in;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Exhibit</font></b><b><u><font face="Times New Roman" style="font-size:10.0pt;"> Number</font></u></b></p>
  </td>
 <td valign=bottom width=88% style="padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:8.0pt;page-break-after:avoid;text-align:center;"><b><u><font face="Times New Roman" style="font-size:10.0pt;">Description</font></u></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.1</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Restated Articles of Incorporation of the Company,
  incorporated by reference to Exhibit 3.1 of the Company&#8217;s Registration
  Statement on Form S-4 (Registration No. 333-68061) filed with the Commission
  on November 27, 1998.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.2</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Bylaws of the Company, incorporated by reference to
  Exhibit 3.2 of the Company&#8217;s Registration Statement on Form S-4 (Registration
  No. 333-68061) filed with the Commission on November 27, 1998.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.3</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Indenture, dated May 18, 2007, by and among Gold
  Reserve Inc., and The Bank of New York Mellon, as successor in interest to
  The Bank of New York, as Trustee and the Co-Trustee named therein,
  incorporated by reference to Exhibit 7.1 to Gold Reserve&#8217;s Registration
  Statement on Form F-10 (File No. 333-142944) filed with the Commission on May
  14, 2007.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.4</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">First Supplemental Indenture, dated as of December
  4, 2012, among Gold Reserve Inc., U.S. National Bank Association, as Trustee,
  and Computershare Trust Company of Canada, as Co-Trustee filed with the Commission
  on Form 6-K (File No. 001-31819) on December 6, 2012. </font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.5</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Form of Certificate for the Class A Common Shares,
  incorporated by reference to Exhibit 4.4 of the Company&#8217;s Proxy Statement/Joint Prospectus included as part of
  our registration on Form S-4 on Form
  S-4 (Registration No. 333-68061) filed with the Commission on November 27,
  1998.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.6*</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Gold Reserve Inc. amended and restated 2012 Equity
  Incentive Plan approved by the Board of Directors on April 11, 2014.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.7</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Amended and Restated Shareholder Rights Plan
  Agreement (including form of Rights Certificate), incorporated by reference
  to Exhibit 99.1 (Appendix C) of the Company&#8217;s Report of Foreign Private Issuer
  on Form 6-K furnished to the Commission on May 14, 2009.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.8</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">First Amendment to Amended and Restated Shareholder
  Rights Plan Agreement, incorporated by reference to Exhibit 99.1 (Appendix B)
  of the Company&#8217;s Report of Foreign Private Issuer on Form 6-K furnished to
  the Commission on June 4, 2012.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;page-break-after:avoid;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.9</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Form of Notice of Grant of Stock Options and Option
  Agreement under the Gold Reserve Inc.
  2012 Equity Incentive Plan incorporated
  by reference to Exhibit 4.5 of the Company&#8217;s Registration Statement on Form
  S-8 (Registration No. 333-188574) filed with the Commission on May 13, 2013.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">5.1*</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Opinion of Austring, Fendrick &amp; Fairman</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">23.1*</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Consent of PricewaterhouseCoopers LLP</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">23.2*</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Consent of Austring, Fendrick &amp; Fairman
  (incorporated by reference to Exhibit 5.1 to this Registration Statement)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">24.1*</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Power of Attorney (included on the signature page of
  this Registration Statement)</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=EN-US style="font-size:12.0pt;">_______________</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">*
Filed herewith.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">Item 9.&#160;&#160; Undertakings.</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:10.0pt;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The undersigned
registrant hereby undertakes:</font></p>


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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_7"></a><a name="_bclPageBorder7"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:10.0pt;margin-left:1.5in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To file, during
any period in which offers or sales are being made, a post-effective amendment
to this Registration Statement:</font></p>

<p style="margin:0in;margin-bottom:10.0pt;margin-left:2.0in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To include any prospectus required by section 10(a)(3) of
the Securities Act of 1933;</font></p>

<p style="margin:0in;margin-bottom:10.0pt;margin-left:2.0in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To reflect in the prospectus any facts or events arising
after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the total dollar value of securities offered would not
exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus
filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in
volume and price represent no more than a 20% change in the maximum aggregate
offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the
effective registration statement; and</font></p>

<p style="margin:0in;margin-bottom:10.0pt;margin-left:2.0in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To include any material information with respect to the
plan of distribution not previously disclosed in the registration statement or
any material change to such information in the registration statement;</font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;"> provided,
however</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">, that:</font></p>

<p style="margin:0in;margin-bottom:10.0pt;margin-left:2.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(A) Paragraphs
(a)(1)(i) and (a)(1)(ii) do not apply if the information required to be
included in a post-effective amendment by those paragraphs is contained in
periodic reports filed by the registrant pursuant to section 13 or section
15(d) of the Securities Exchange Act of 1934 that are incorporated by reference
in the registration statement;</font></p>

<p style="margin:0in;margin-bottom:10.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; That, for the purpose of determining any liability under
the Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof;</font></p>

<p style="margin:0in;margin-bottom:10.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.</font></p>

<p style="margin:0in;margin-bottom:10.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(4) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If the registrant is a foreign private issuer, to file a
post-effective amendment to the registration statement to include any financial
statements required by &#8220;Item 8.A. of Form 20-F (17 CFR 249.220f)&#8221; at the start
of any delayed offering or throughout a continuous offering. Financial
statements and information otherwise required by Section 10(a)(3) of the Act
need not be furnished, </font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">provided&nbsp;</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;"> that the registrant includes in the
prospectus, by means of a post-effective amendment, financial statements
requires pursuant to this paragraph (a)(4) and other information necessary to
ensure that all other information in the prospectus is at least as current as
the date of those financial statements. Notwithstanding the foregoing, with
respect to registration statements on Form F-3 (&#167;239.33 of this chapter), a
post-effective amendment &#167;210.3-19 of this chapter if such financial statements
and information are contained in periodic reports filed with or furnished to
the Commission by the registrant pursuant to section 13 or section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in the Form
F-3. </font></p>

<p style="margin:0in;margin-bottom:10.0pt;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The undersigned
registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act of 1933, each filing of the registrant&#8217;s annual report
pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of
1934 (and, where applicable, each filing of an employee benefit plan&#8217;s annual
report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that
is incorporated by reference in the registration statement shall be deemed to be
a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial </font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">bona
fide</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;"> offering thereof.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been
advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act of
1933 and is, therefore, unenforceable.&#160; In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">registered, the
registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Securities Act of 1933 and will be governed by the final
adjudication of such issue.</font></p>
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</DIV>
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<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>


<a name="_bclFooter8"></a><DIV>


<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_9"></a><a name="_bclPageBorder9"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="line-height:normal;margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">SIGNATURES</font></b></p>

<p align=left style="line-height:normal;margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pursuant to
the requirements of the Securities Act of 1933, the registrant certifies that
it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of
Spokane, State of Washington, on July 7, 2014.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">GOLD RESERVE INC.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">By: </font><u><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;/s/ Rockne J. Timm&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.75in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ROCKNE J. TIMM</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.75in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Chief Executive Officer </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">POWER OF ATTORNEY</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><b><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">KNOW ALL MEN BY THESE PRESENTS</font></b><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, that each person whose signature appears
below hereby constitutes and appoints Rockne J. Timm and Robert A. McGuinness,
and each of them with full power to act without the other, his or her true and
lawful attorney-in-fact and agent, with full power of substitution and
re-substitution, for the undersigned and in his or her name, place and stead,
in any and all capacities, to sign any and all amendments or supplements
(including any and all prospectus supplements, stickers and pre- and
post-effective amendments) to this Registration Statement and any additional
registration statements to be filed pursuant to Rule 462(b) under the
Securities Act of 1933 and to file the same, with all exhibits thereto, and any
other documentation in connection therewith, with the Securities and Exchange
Commission, granting unto said attorney-in-fact and agent full power and
authority to do and perform each and every act and thing requisite and
necessary to be done in and about the premises, as fully to all intents and
purposes as he or she might or could do in person, hereby ratifying all that
said attorney-in-fact and agent, or his or her substitute or substitutes, may
lawfully do or cause to be done by virtue hereof.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="line-height:89%;margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pursuant to the
requirements of the Securities Act of 1933, this Registration Statement on Form
S-8 has been signed below by the following persons in the capacities and on the
dates indicated.</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:1.5pt;width:517.500000pt;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=40% style="padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:2.9pt;text-align:center;"><u><font face="Times New Roman" style="font-size:10.0pt;">Signature</font></u></p>
  </td>
 <td valign=bottom width=39% style="padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:2.9pt;text-align:center;"><u><font face="Times New Roman" style="font-size:10.0pt;">Title</font></u></p>
  </td>
 <td valign=bottom width=21% style="padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:2.9pt;text-align:center;"><u><font face="Times New Roman" style="font-size:10.0pt;">Date</font></u></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=40% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;text-align:justify;"><u><font face="Times New Roman" style="font-size:10.0pt;">/s/ Rockne J. Timm                                            </font></u></p>
  <p style="margin:0in;margin-bottom:2.9pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">ROCKNE J. TIMM</font></p>
  </td>
 <td valign=top width=39% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">Chief
  Executive Officer (Principal <br>
  Executive Officer) and Director</font></p>
  </td>
 <td valign=top width=21% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">July
  7, 2014</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=40% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;text-align:justify;"><u><font face="Times New Roman" style="font-size:10.0pt;">/s/ Robert A. McGuinness                                 </font></u></p>
  <p style="margin:0in;margin-bottom:2.9pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">ROBERT A. McGUINNESS</font></p>
  </td>
 <td valign=top width=39% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">Vice
  President of Finance and Chief <br>
  Financial Officer (Principal Financial <br>
  and Accounting Officer)</font></p>
  </td>
 <td valign=top width=21% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">July
  7, 2014</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=40% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;text-align:justify;"><u><font face="Times New Roman" lang=DE style="font-size:10.0pt;">/s/ A. Douglas Belanger                                     </font></u></p>
  <p style="margin:0in;margin-bottom:2.9pt;text-align:justify;"><font face="Times New Roman" lang=DE style="font-size:10.0pt;">A. DOUGLAS BELANGER</font></p>
  </td>
 <td valign=top width=39% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">President
  and Director</font></p>
  </td>
 <td valign=top width=21% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">July
  7, 2014</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=40% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;text-align:justify;"><u><font face="Times New Roman" lang=FR style="font-size:10.0pt;">/s/ James H. Coleman                                       </font></u></p>
  <p style="margin:0in;margin-bottom:2.9pt;text-align:justify;"><font face="Times New Roman" lang=FR style="font-size:10.0pt;">JAMES H. COLEMAN</font></p>
  </td>
 <td valign=top width=39% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Non-Executive
  Chairman and Director</font><font color=black face="Times New Roman" style="font-size:10.0pt;"> &nbsp;</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 <td valign=top width=21% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">July
  7, 2014</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=40% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;text-align:justify;"><u><font face="Times New Roman" style="font-size:10.0pt;">/s/ James P. Geyer                                              </font></u></p>
  <p style="margin:0in;margin-bottom:2.9pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">JAMES P. GEYER</font></p>
  </td>
 <td valign=top width=39% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
 <td valign=top width=21% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">July
  7, 2014</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=40% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;text-align:justify;"><u><font face="Times New Roman" style="font-size:10.0pt;">/s/ Patrick D. McChesney                                 </font></u></p>
  <p style="margin:0in;margin-bottom:2.9pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">PATRICK D. McCHESNEY</font></p>
  </td>
 <td valign=top width=39% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
 <td valign=top width=21% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">July
  7, 2014</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=40% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;text-align:justify;"><u><font face="Times New Roman" style="font-size:10.0pt;">/s/ Chris D. Mikkelsen                                       </font></u></p>
  <p style="margin:0in;margin-bottom:2.9pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">CHRIS D. MIKKELSEN</font></p>
  </td>
 <td valign=top width=39% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
 <td valign=top width=21% style="padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">July
  7, 2014</font></p>
  </td>
 </tr>
<tr style="height:40.5pt;page-break-inside:avoid;">
  <td valign=top width=40% style="height:40.5pt;padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;text-align:justify;"><u><font face="Times New Roman" lang=FR style="font-size:10.0pt;">/s/ Jean Charles Potvin                                      </font></u></p>
  <p style="margin:0in;margin-bottom:2.9pt;text-align:justify;"><font face="Times New Roman" lang=FR style="font-size:10.0pt;">JEAN CHARLES POTVIN</font></p>
  </td>
 <td valign=top width=39% style="height:40.5pt;padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
 <td valign=top width=21% style="height:40.5pt;padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">July
  7, 2014</font></p>
  </td>
 </tr>
<tr style="height:40.5pt;page-break-inside:avoid;">
  <td valign=top width=40% style="height:40.5pt;padding:0in 6.0pt 0in 6.0pt;">
  <p style="line-height:115%;margin:0in;margin-bottom:.0001pt;"><font color=black style="line-height:115%;"><font color=black face="Times New Roman" style="font-size:10.0pt;">Gold Reserve Inc. </font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;text-align:justify;"><u><font face="Times New Roman" style="font-size:10.0pt;">/s/ Mary
  E. Smith                                               </font></u></p>
  <p style="line-height:115%;margin:0in;margin-bottom:.0001pt;"><font style="line-height:115%;"><font face="Times New Roman" style="font-size:10.0pt;">MARY E. SMITH</font></font></p>
  <p style="line-height:115%;margin:0in;margin-bottom:.0001pt;"><font color=black style="line-height:115%;"><font color=black face="Times New Roman" style="font-size:10.0pt;">Vice President -
  Administration and Secretary</font></font></p>
  </td>
 <td valign=top width=39% style="height:40.5pt;padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">Authorized
  Representative in the United States</font></p>
  </td>
 <td valign=top width=21% style="height:40.5pt;padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:10.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">July
  7, 2014</font></p>
  </td>
 </tr>
</table></div>


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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_10"></a><a name="_bclPageBorder10"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">EXHIBIT
LIST</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:6.0pt;width:493.000000pt;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=11% style="padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:8.0pt;margin-left:0pt;margin-right:0pt;margin-top:0in;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Exhibit</font></b><b><u><font face="Times New Roman" style="font-size:10.0pt;"> Number</font></u></b></p>
  </td>
 <td valign=bottom width=88% style="padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:8.0pt;page-break-after:avoid;text-align:center;"><b><u><font face="Times New Roman" style="font-size:10.0pt;">Description</font></u></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.1</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Restated Articles of Incorporation of the Company,
  incorporated by reference to Exhibit 3.1 of the Company&#8217;s Registration
  Statement on Form S-4 (Registration No. 333-68061) filed with the Commission
  on November 27, 1998.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.2</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Bylaws of the Company, incorporated by reference to
  Exhibit 3.2 of the Company&#8217;s Registration Statement on Form S-4 (Registration
  No. 333-68061) filed with the Commission on November 27, 1998.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.3</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Indenture, dated May 18, 2007, by and among Gold
  Reserve Inc., and The Bank of New York Mellon, as successor in interest to
  The Bank of New York, as Trustee and the Co-Trustee named therein,
  incorporated by reference to Exhibit 7.1 to Gold Reserve&#8217;s Registration
  Statement on Form F-10 (File No. 333-142944) filed with the Commission on May
  14, 2007.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.4</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">First Supplemental Indenture, dated as of December
  4, 2012, among Gold Reserve Inc., U.S. National Bank Association, as Trustee,
  and Computershare Trust Company of Canada, as Co-Trustee filed with the Commission
  on Form 6-K (File No. 001-31819) on December 6, 2012. </font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.5</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Form of Certificate for the Class A Common Shares,
  incorporated by reference to Exhibit 4.4 of the Company&#8217;s Proxy Statement/Joint Prospectus included as part of
  our registration on Form S-4 on Form
  S-4 (Registration No. 333-68061) filed with the Commission on November 27,
  1998.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.6*</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Gold Reserve Inc. amended and restated 2012 Equity
  Incentive Plan approved by the Board of Directors on April 11, 2014.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.7</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Amended and Restated Shareholder Rights Plan
  Agreement (including form of Rights Certificate), incorporated by reference
  to Exhibit 99.1 (Appendix C) of the Company&#8217;s Report of Foreign Private
  Issuer on Form 6-K furnished to the Commission on May 14, 2009.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.8</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">First Amendment to Amended and Restated Shareholder
  Rights Plan Agreement, incorporated by reference to Exhibit 99.1 (Appendix B)
  of the Company&#8217;s Report of Foreign Private Issuer on Form 6-K furnished to
  the Commission on June 4, 2012.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;page-break-after:avoid;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">4.9</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Form of Notice of Grant of Stock Options and Option
  Agreement under the Gold Reserve Inc.
  2012 Equity Incentive Plan incorporated
  by reference to Exhibit 4.5 of the Company&#8217;s Registration Statement on Form
  S-8 (Registration No. 333-188574) filed with the Commission on May 13, 2013.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">5.1*</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Opinion of Austring, Fendrick &amp; Fairman</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">23.1*</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Consent of PricewaterhouseCoopers LLP</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:3.0pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">23.2*</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Consent of Austring, Fendrick &amp; Fairman
  (incorporated by reference to Exhibit 5.1 to this Registration Statement)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=11% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">24.1*</font></p>
  </td>
 <td colspan=2 valign=top width=89% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">Power of Attorney (included on the signature page of
  this Registration Statement)</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=EN-US style="font-size:12.0pt;">_______________</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">*
Filed herewith.</font></p>

<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>



</div>
</BODY>

</HTML>
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{"company-data": {"conformed-name": "GOLD RESERVE INC", "cik": "0001072725", "assigned-sic": "1040", "irs-number": "810266636", "state-of-incorporation": "B0", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-197282", "film-number": "14963531"}, "business-address": {"street1": "926 W SPRAGUE AVENUE", "street2": "SUITE 200", "city": "SPOKANE", "state": "WA", "zip": "99201", "phone": "5096231500"}, "mail-address": {"street1": "926 W SPRAGUE AVENUE", "street2": "SUITE 200", "city": "SPOKANE", "state": "WA", "zip": "99201"}}
gdrzfforms8070714.htm - Generated by SEC Publisher for SEC Filing
As filed with the Securities and Exchange Commission on July 7, 2014                  Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________________
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
GOLD RESERVE INC.
(Exact name of registrant as specified in its charter)
Yukon Territory, Canada
(State or other jurisdiction of
incorporation or organization)
N/A
(I.R.S. Employer Identification No.)
926 West Sprague Avenue
Suite 200
Spokane, Washington
(Address of Principal Executive Offices)
99201
(Zip Code)
GOLD RESERVE INC.  2012 EQUITY INCENTIVE PLAN
(Full title of the plan)
Agent for service
:
Rockne J. Timm
926 West Sprague Avenue, Suite 200
Spokane, Washington 99201
(509) 623-1500
(Name, address and telephone number,
including area code)
Copy to:
Jonathan B. Newton
Baker & McKenzie LLP
Bank of America Center
700 Louisiana, Suite 3000
Houston, Texas 77002
(713) 427-5000
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
¨
Accelerated filer
x
Non-accelerated filer
¨
(Do not check if a smaller reporting company)
Smaller reporting company
¨
CALCULATION OF
REGISTRATION FEE
Title of each class of securities to be registered
(1)
Amount to be registered
Proposed maximum offering price per share
(2)
Proposed maximum aggregate offering price
Amount of registration fee
Class A Common Shares,
  no par value (including the associated Share Purchase Rights)
(3)
1,562,753 Shares
$3.39
$ 5,297,733
$ 682.35
(1)   Class A Common Shares, no par
value per share (the "Class A Common Shares"), of Gold Reserve Inc. (the
"Company") being registered hereby related to the Gold Reserve Inc. 2012 Equity
Incentive Plan (the "2012 Plan").  Pursuant to Rule 416 under the Securities
Act of 1933, as amended (the "Securities Act"), this Registration Statement
also covers an indeterminable number of additional Class A Common Shares as may
be offered or issued to prevent dilution as a result of any stock dividend, stock
split, recapitalization, or other similar transaction.
(2)   Estimated solely for the purpose
of calculating the registration fee pursuant to Rule 457(c) and (h) promulgated
under the Securities Act on the basis of the average of the high and low sales
prices of the Class A Common Shares on July 3, 2014, as quoted on the OTCQB
marketplace.
(3)   Each Class A Common Share
registered hereunder includes an associated right to purchase from the Company
one additional Class A Common Share (the "Purchase Rights") pursuant to the
Company's amended and restated shareholder rights plan agreement, dated as of
June 11, 2009, as amended on June 27, 2012 (the "Rights Plan"). The Purchase
Rights are not exercisable until the occurrence of events specified in the
Rights Plan and are transferrable solely with the associated Class A Common
Shares. The value attributable to the Purchase Rights, if any, is reflected in
the value of the associated Class A Common Shares.
IMPORTANT NOTICE
THESE Securities are being offered to investors
in the United States of America, other than in the states of Montana, New Hampshire and North Dakota.
PART I
INFORMATION REQUIRED IN THE SECTION
10(a) PROSPECTUS
The documents containing the information specified in
Part I of this Registration Statement on Form S-8 will
be sent or given to the participants in the Gold
Reserve Inc. 2012 Equity Incentive Plan (the "Plan") as specified by Rule
428(b)(1) of the Securities Act of 1933, as amended (the "Securities Act").  In
accordance with the instructions to Part I of this Registration Statement
on Form S-8, such documents will not be filed with the Securities and Exchange
Commission (the "Commission"). These documents and the documents incorporated
by reference pursuant to Item 3 of Part II of this Registration
Statement on Form S-8, taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item 3.   Incorporation of Documents
by Reference.
The
following documents filed by Gold Reserve Inc. (the "Company") with the
Commission are hereby incorporated by reference into this Registration
Statement on Form S-8:
·
The Company's Annual Report on Form 40-F, for the Company's
fiscal year ended December 31, 2013, filed with the Commission on April 29,
2014;
·
The description of Capital Stock set
forth in the Company's Registration Statement on Form F-10 (File No.
333-142655) filed with the Commission on May 7, 2007;
·
The description of the Purchase Rights registered hereby
contained in the Company's Report of Foreign Private Issuer on Form 6-K
furnished with the Commission on May 14, 2009, as amended by the Company's
Report of Foreign Private Issuer on Form 6-K furnished to the Commission on June
4, 2012.
·
All other reports filed pursuant to
Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, as
amended (the "
Exchange Act")
(except that any
portions thereof which are furnished and not filed shall not be deemed
incorporated)
since the end of the fiscal year
covered by the Form 40-F mentioned above;
and
·
All other documents subsequently filed by the Company pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (except that any
portions thereof which are furnished and not filed shall not be deemed
incorporated), and certain Reports on Form 6-K furnished by the Company (which
indicate on their cover pages that they are incorporated herein by reference),
prior to the filing of a post‑effective amendment to this Registration
Statement on Form S-8 which indicates that all securities offered hereunder
have been sold or which deregisters all Class A Common Shares then remaining
unsold.
Item 4.   Description of Securities.
Not applicable.
Item 5.   Interest of Named Experts and Counsel.
Not applicable.
Item 6.   Indemnification of Directors and Officers.
The only statutes, charter provisions, bylaws,
contracts or other arrangements under which a director or officer of the
Company is insured or indemnified in any manner against liability which such
officer of director may incur in such capacity is Section 126 of the Business
Corporations Act under the Revised Statutes of the Yukon 2002 (the "Act"),
Sections 7.02 through 7.04 of the Company's bylaws, as well as indemnity
agreements between the Company and its directors and officers. Taken together,
the statutory and bylaw provisions generally allow the Company to indemnify its
directors or officers against liability and expenses if the officer or director
seeking indemnity (a) acted honestly and in good faith with a view to the best
interests of the Company, and (b) in the case of a criminal or administrative
action or proceeding that is enforced by a monetary penalty, the officer or
director had reasonable grounds for believing his conduct was lawful. Such
statutory and bylaw provisions also allow
officers and
directors to seek indemnity if they have (i) fulfilled the requirements for (a)
and (b), (ii) are fairly and reasonably entitled to indemnity, and (iii) were
substantially successful on the merits in the defense of the action or
proceeding. The officer and director indemnity agreements generally indemnify
the directors and officers against all liabilities and expenses by reason of
his/her position and are subject to the statutory and bylaw provisions noted
above.
Section 126 of the Yukon Business Corporations Act
Section
126 of the Yukon Business Corporations Act is set forth in its entirety as
follows. All capitalized terms used herein but not otherwise defined shall have
the meanings as set forth in the Act.
126(1)   Except
in respect of an action by or on behalf of the corporation or body corporate to
procure a judgment in its favor, a corporation may indemnify directors or
officers of the corporation, former directors or officers of the corporation or
persons who act or acted at the corporation's request as directors or officers
of a body corporate of which the corporation is or was a shareholder or
creditor, and their heirs and legal representatives, against all costs, charges
and expenses, including an amount paid to settle an action or satisfy a
judgment, reasonably incurred by them in respect of any civil, criminal or
administrative action or proceeding to which they are made party because they
are or have been directors or officers of that corporation or body corporate,
if:
(a)           they acted
honestly and in good faith with a view to the best interests of the
corporation; and
(b)           in the case of
a criminal or administrative action or proceeding that is enforced by a
monetary penalty, they had reasonable grounds for believing that their conduct
was lawful.
(2)           A corporation
may with the approval of the Supreme Court indemnify persons referred to in
subsection (1) in respect of an action by or on behalf of the corporation or
body corporate to procure a judgment in its favor, to which they are made party
by reason of being or having been directors or officers of the corporation or
body corporate, against all costs, charges and expenses reasonably incurred by
them in connection with the action if they fulfill the conditions set out in
paragraphs (1)(a) and (b).
(3)           Despite
anything in this section, persons referred to in subsection (1) are entitled to
indemnity from the corporation in respect of all costs, charges and expenses
reasonably incurred by them in connection with the defense of any civil,
criminal or administrative action or proceeding to which they are made party
because they are or have been directors or officers of the corporation or body
corporate, if the person seeking indemnity:
(a)           was substantially
successful on the merits in the defense of the action or proceeding;
(b)           fulfills the
conditions set out in paragraphs (1)(a) and (b); and
(c)           is fairly and
reasonably entitled to indemnity.
(4)           A corporation
may purchase and maintain insurance for the benefit of any person referred to
in subsection (1) against any liability incurred by them:
(a)           in their
capacity as a director or officer of the corporation, except when the liability
relates to their failure to act honestly and in good faith with a view to the
best interests of the corporation; or
(b)           in their
capacity as a director or officer of another body corporate if they act or
acted in that capacity at the corporation's request, except when the liability
relates to their failure to act honestly and in good faith with a view to the
best interests of the body corporate.
(5)           A corporation
or a person referred to in subsection (1) may apply to the Supreme Court for an
order approving an indemnity under this section and the Supreme Court may so
order and make any further order it thinks fit.
(6)           On an
application under subsection (5), the Supreme Court may order notice to be
given to any interested person and that person is entitled to appear and be
heard in person or by counsel.
Bylaws of Gold Reserve
Inc.
Sections
7.02 through 7.04 of the Company's bylaws are set forth in their entirety as
follows. All capitalized terms used herein but not otherwise defined shall have
the meanings as set forth in the Company's bylaws.
7.02       
Limitation of Liability
Subject to the Act, no director or officer, or former director or officer, of
the Corporation shall be liable for the acts, receipts, neglects or defaults of
any other director or officer or employee, or for the joining in any receipt or
act for conformity, or for any loss or damage or expense happening to the
Corporation through the insufficiency or deficiency of title to any property
acquired by the Corporation or for or on behalf of the Corporation or for the
insufficiency or deficiency of any security in or upon which any of the money
of or belonging to the Corporation shall be placed or invested, or for any loss
or damage arising from the bankruptcy, insolvency or tortious act of any
person, firm or corporation including any person, firm or corporation with whom
or with which any moneys, securities or effects shall be lodged or deposited,
or for any loss, conversion, misapplication or misappropriation of or any
damage resulting from any dealing with any moneys, securities or other assets
of or belonging to the Corporation or for any other loss, damage or misfortune
whatsoever which may happen in the execution of the duties of his respective
office or trust or in relation thereto unless the same shall happen by or
through his failure to exercise the powers and to discharge the duties of his
office honestly and in good faith with a view to the best interest of the
Corporation and to exercise the care, diligence and skill that a reasonably
prudent person would exercise in comparable circumstances. Any repeal or
modification of the foregoing provisions of this paragraph 7.02 shall not
adversely affect any limitation on the personal liability of a director or
officer of the Corporation arising from an act or omission occurring prior to
the time of such repeal or amendment. In addition to the circumstances in which
a director or officer of the Corporation is not personally liable as set forth
in the foregoing provisions of this paragraph 7.02, a director or officer shall
not be liable to the Corporation or its shareholders to such further extent as
permitted by any law hereafter enacted, including, without limitation, any
subsequent amendment to the Act.
7.03       
Indemnity
Subject to the Act, the Corporation shall indemnify a director or officer, a
former director or officer, and a person who acts or acted at the Corporation's
request as a director or officer of a body corporate of which the Corporation
is or was a shareholder or creditor, and his heirs and legal representatives,
against all costs, charges and expenses, including any amount paid to settle an
action or satisfy a judgment, reasonably incurred by him in respect of any
civil, criminal or administrative action or proceeding to which he is made a
party by reason of being or having been a director or officer of the
Corporation or such body corporate, if:
(a)           he acted
honestly and in good faith with a view to the best interests of the
Corporation; and
(b)           in the case of
a criminal or administrative action or proceeding that is enforced by a
monetary penalty, he had reasonable grounds for believing his conduct was
lawful.
The Corporation shall indemnify the directors and officers of the Corporation
to the fullest extent permitted by law. The Corporation may indemnify any
employee or agent of the Corporation to the fullest extent permitted by law. In
addition to the circumstances in which a director or officer of the Corporation
is indemnified as set forth in the foregoing provisions of this paragraph 7.03,
a director or officer shall be indemnified by the Corporation to such further
extent as permitted by any law hereafter enacted, including, without
limitation, any subsequent amendment to the Act.
7.04       
Insurance
The Corporation may, subject to and in accordance with the Act, purchase and
maintain insurance for the benefit of any director or officer, or former
director or officer, of the Corporation as such against any liability incurred
by him. The Corporation may provide such insurance to directors and officers
regardless of whether such directors and officers are indemnified pursuant to
paragraph 7.03 above.
Insurance Policies for Directors and Officers
The Company also maintains insurance for the benefit
of its directors and officers against liability in their respective capacities
as directors and officers. The directors and officers are not required to pay
any premium in respect of this insurance. The policy contains various industry
exclusions and no claims have been made thereunder to date. Insofar
as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons
of the registrant pursuant to any charter provision, bylaw, contract,
arrangement, statute or otherwise, the Company has been advised that in the
opinion of the SEC such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable.
Item 7.   Exemption
from Registration Claimed.
Not
applicable.
Item 8.   Exhibits.
The
following are filed as exhibits to this Registration Statement:
Exhibit
Number
Description
4.1
Restated Articles of Incorporation of the Company,
  incorporated by reference to Exhibit 3.1 of the Company's Registration
  Statement on Form S-4 (Registration No. 333-68061) filed with the Commission
  on November 27, 1998.
4.2
Bylaws of the Company, incorporated by reference to
  Exhibit 3.2 of the Company's Registration Statement on Form S-4 (Registration
  No. 333-68061) filed with the Commission on November 27, 1998.
4.3
Indenture, dated May 18, 2007, by and among Gold
  Reserve Inc., and The Bank of New York Mellon, as successor in interest to
  The Bank of New York, as Trustee and the Co-Trustee named therein,
  incorporated by reference to Exhibit 7.1 to Gold Reserve's Registration
  Statement on Form F-10 (File No. 333-142944) filed with the Commission on May
  14, 2007.
4.4
First Supplemental Indenture, dated as of December
  4, 2012, among Gold Reserve Inc., U.S. National Bank Association, as Trustee,
  and Computershare Trust Company of Canada, as Co-Trustee filed with the Commission
  on Form 6-K (File No. 001-31819) on December 6, 2012.
4.5
Form of Certificate for the Class A Common Shares,
  incorporated by reference to Exhibit 4.4 of the Company's Proxy Statement/Joint Prospectus included as part of
  our registration on Form S-4 on Form
  S-4 (Registration No. 333-68061) filed with the Commission on November 27,
  1998.
4.6*
Gold Reserve Inc. amended and restated 2012 Equity
  Incentive Plan approved by the Board of Directors on April 11, 2014.
4.7
Amended and Restated Shareholder Rights Plan
  Agreement (including form of Rights Certificate), incorporated by reference
  to Exhibit 99.1 (Appendix C) of the Company's Report of Foreign Private Issuer
  on Form 6-K furnished to the Commission on May 14, 2009.
4.8
First Amendment to Amended and Restated Shareholder
  Rights Plan Agreement, incorporated by reference to Exhibit 99.1 (Appendix B)
  of the Company's Report of Foreign Private Issuer on Form 6-K furnished to
  the Commission on June 4, 2012.
4.9
Form of Notice of Grant of Stock Options and Option
  Agreement under the Gold Reserve Inc.
  2012 Equity Incentive Plan incorporated
  by reference to Exhibit 4.5 of the Company's Registration Statement on Form
  S-8 (Registration No. 333-188574) filed with the Commission on May 13, 2013.
5.1*
Opinion of Austring, Fendrick & Fairman
23.1*
Consent of PricewaterhouseCoopers LLP
23.2*
Consent of Austring, Fendrick & Fairman
  (incorporated by reference to Exhibit 5.1 to this Registration Statement)
24.1*
Power of Attorney (included on the signature page of
  this Registration Statement)
_______________
*
Filed herewith.
Item 9.   Undertakings.
(a)           The undersigned
registrant hereby undertakes:
(1)           To file, during
any period in which offers or sales are being made, a post-effective amendment
to this Registration Statement:
(i)            To include any prospectus required by section 10(a)(3) of
the Securities Act of 1933;
(ii)           To reflect in the prospectus any facts or events arising
after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the total dollar value of securities offered would not
exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus
filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in
volume and price represent no more than a 20% change in the maximum aggregate
offering price set forth in the "Calculation of Registration Fee" table in the
effective registration statement; and
(iii)          To include any material information with respect to the
plan of distribution not previously disclosed in the registration statement or
any material change to such information in the registration statement;
provided,
however
, that:
(A) Paragraphs
(a)(1)(i) and (a)(1)(ii) do not apply if the information required to be
included in a post-effective amendment by those paragraphs is contained in
periodic reports filed by the registrant pursuant to section 13 or section
15(d) of the Securities Exchange Act of 1934 that are incorporated by reference
in the registration statement;
(2)           That, for the purpose of determining any liability under
the Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof;
(3)           To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
(4)           If the registrant is a foreign private issuer, to file a
post-effective amendment to the registration statement to include any financial
statements required by "Item 8.A. of Form 20-F (17 CFR 249.220f)" at the start
of any delayed offering or throughout a continuous offering. Financial
statements and information otherwise required by Section 10(a)(3) of the Act
need not be furnished,
provided
that the registrant includes in the
prospectus, by means of a post-effective amendment, financial statements
requires pursuant to this paragraph (a)(4) and other information necessary to
ensure that all other information in the prospectus is at least as current as
the date of those financial statements. Notwithstanding the foregoing, with
respect to registration statements on Form F-3 (§239.33 of this chapter), a
post-effective amendment §210.3-19 of this chapter if such financial statements
and information are contained in periodic reports filed with or furnished to
the Commission by the registrant pursuant to section 13 or section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in the Form
F-3.
(b)           The undersigned
registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act of 1933, each filing of the registrant's annual report
pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of
1934 (and, where applicable, each filing of an employee benefit plan's annual
report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that
is incorporated by reference in the registration statement shall be deemed to be
a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona
fide
offering thereof.
(c)           Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been
advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act of
1933 and is, therefore, unenforceable.  In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being
registered, the
registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Securities Act of 1933 and will be governed by the final
adjudication of such issue.
SIGNATURES
Pursuant to
the requirements of the Securities Act of 1933, the registrant certifies that
it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of
Spokane, State of Washington, on July 7, 2014.
GOLD RESERVE INC.
By:
/s/ Rockne J. Timm
ROCKNE J. TIMM
Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS
, that each person whose signature appears
below hereby constitutes and appoints Rockne J. Timm and Robert A. McGuinness,
and each of them with full power to act without the other, his or her true and
lawful attorney-in-fact and agent, with full power of substitution and
re-substitution, for the undersigned and in his or her name, place and stead,
in any and all capacities, to sign any and all amendments or supplements
(including any and all prospectus supplements, stickers and pre- and
post-effective amendments) to this Registration Statement and any additional
registration statements to be filed pursuant to Rule 462(b) under the
Securities Act of 1933 and to file the same, with all exhibits thereto, and any
other documentation in connection therewith, with the Securities and Exchange
Commission, granting unto said attorney-in-fact and agent full power and
authority to do and perform each and every act and thing requisite and
necessary to be done in and about the premises, as fully to all intents and
purposes as he or she might or could do in person, hereby ratifying all that
said attorney-in-fact and agent, or his or her substitute or substitutes, may
lawfully do or cause to be done by virtue hereof.
Pursuant to the
requirements of the Securities Act of 1933, this Registration Statement on Form
S-8 has been signed below by the following persons in the capacities and on the
dates indicated.
Signature
Title
Date
/s/ Rockne J. Timm
ROCKNE J. TIMM
Chief
  Executive Officer (Principal
Executive Officer) and Director
July
  7, 2014
/s/ Robert A. McGuinness
ROBERT A. McGUINNESS
Vice
  President of Finance and Chief
Financial Officer (Principal Financial
and Accounting Officer)
July
  7, 2014
/s/ A. Douglas Belanger
A. DOUGLAS BELANGER
President
  and Director
July
  7, 2014
/s/ James H. Coleman
JAMES H. COLEMAN
Non-Executive
  Chairman and Director
July
  7, 2014
/s/ James P. Geyer
JAMES P. GEYER
Director
July
  7, 2014
/s/ Patrick D. McChesney
PATRICK D. McCHESNEY
Director
July
  7, 2014
/s/ Chris D. Mikkelsen
CHRIS D. MIKKELSEN
Director
July
  7, 2014
/s/ Jean Charles Potvin
JEAN CHARLES POTVIN
Director
July
  7, 2014
Gold Reserve Inc.
/s/ Mary
  E. Smith
MARY E. SMITH
Vice President -
  Administration and Secretary
Authorized
  Representative in the United States
July
  7, 2014
EXHIBIT
LIST
Exhibit
Number
Description
4.1
Restated Articles of Incorporation of the Company,
  incorporated by reference to Exhibit 3.1 of the Company's Registration
  Statement on Form S-4 (Registration No. 333-68061) filed with the Commission
  on November 27, 1998.
4.2
Bylaws of the Company, incorporated by reference to
  Exhibit 3.2 of the Company's Registration Statement on Form S-4 (Registration
  No. 333-68061) filed with the Commission on November 27, 1998.
4.3
Indenture, dated May 18, 2007, by and among Gold
  Reserve Inc., and The Bank of New York Mellon, as successor in interest to
  The Bank of New York, as Trustee and the Co-Trustee named therein,
  incorporated by reference to Exhibit 7.1 to Gold Reserve's Registration
  Statement on Form F-10 (File No. 333-142944) filed with the Commission on May
  14, 2007.
4.4
First Supplemental Indenture, dated as of December
  4, 2012, among Gold Reserve Inc., U.S. National Bank Association, as Trustee,
  and Computershare Trust Company of Canada, as Co-Trustee filed with the Commission
  on Form 6-K (File No. 001-31819) on December 6, 2012.
4.5
Form of Certificate for the Class A Common Shares,
  incorporated by reference to Exhibit 4.4 of the Company's Proxy Statement/Joint Prospectus included as part of
  our registration on Form S-4 on Form
  S-4 (Registration No. 333-68061) filed with the Commission on November 27,
  1998.
4.6*
Gold Reserve Inc. amended and restated 2012 Equity
  Incentive Plan approved by the Board of Directors on April 11, 2014.
4.7
Amended and Restated Shareholder Rights Plan
  Agreement (including form of Rights Certificate), incorporated by reference
  to Exhibit 99.1 (Appendix C) of the Company's Report of Foreign Private
  Issuer on Form 6-K furnished to the Commission on May 14, 2009.
4.8
First Amendment to Amended and Restated Shareholder
  Rights Plan Agreement, incorporated by reference to Exhibit 99.1 (Appendix B)
  of the Company's Report of Foreign Private Issuer on Form 6-K furnished to
  the Commission on June 4, 2012.
4.9
Form of Notice of Grant of Stock Options and Option
  Agreement under the Gold Reserve Inc.
  2012 Equity Incentive Plan incorporated
  by reference to Exhibit 4.5 of the Company's Registration Statement on Form
  S-8 (Registration No. 333-188574) filed with the Commission on May 13, 2013.
5.1*
Opinion of Austring, Fendrick & Fairman
23.1*
Consent of PricewaterhouseCoopers LLP
23.2*
Consent of Austring, Fendrick & Fairman
  (incorporated by reference to Exhibit 5.1 to this Registration Statement)
24.1*
Power of Attorney (included on the signature page of
  this Registration Statement)
_______________
*
Filed herewith.