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<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">As filed with the Securities and Exchange Commission on October 20, 2009</FONT></P>
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     <TD noWrap align=center><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Registration No. 333-</FONT></TD></TR></TABLE></P>
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     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">UNITED STATES</FONT></B><BR>
<B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR>
<B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Washington, D.C. 20549</FONT></B><BR>
<U><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">________________________________</FONT></U></TD></TR></TABLE></P>
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     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">FORM S-8</FONT></B></TD></TR></TABLE></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</FONT></B></P>
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     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">GOLD RESERVE INC.</FONT></B></TD></TR></TABLE></P>
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     <TD noWrap align=center><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(Exact name of registrant as specified in its charter)</FONT></TD></TR></TABLE></P>
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<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Canada</FONT></B></P>
<P><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(State or other jurisdiction of incorporation or organization)</FONT></P>
<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">926 West Sprague Avenue</FONT></B></P>
<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Suite 200 Spokane, Washington</FONT></B></P>
<P><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(Address of principal executive offices)</FONT></P>
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<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">N/A</FONT></B></P>
<P><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(I.R.S. Employer Identification No.)</FONT></P>
<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">99201</FONT></B></P>
<P><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(Zip Code)</FONT></P>
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     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">GOLD RESERVE INC. EQUITY INCENTIVE PLAN</FONT></B><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(Full title of the plan)</FONT></TD></TR></TABLE></P>
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<P><I><FONT size=2 face="Times New Roman,Italic,Times New Roman,Times,serif">agent for service</FONT></I><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">:</FONT></B></P>
<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">ROCKNE J. TIMM </FONT></B></P>
<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">926 West Sprague Avenue, Suite 200 </FONT></B></P>
<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Spokane, Washington 99201 </FONT></B></P>
<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">(509) 623-1500</FONT></B></P>
<P><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(Name, address and telephone number, including area code)</FONT></P>
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<P><I><FONT size=2 face="Times New Roman,Italic,Times New Roman,Times,serif">with a copy to:</FONT></I></P>
<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">JONATHAN B. NEWTON </FONT></B></P>
<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Baker &amp; McKenzie LLP Pennzoil Place, South Tower 711 Louisiana, Suite 3400</FONT></B></P>
<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Houston, Texas 77002 </FONT></B></P>
<P><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">(713) 427-5000</FONT></B></P>
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<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">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 &#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule 12b2 of the Exchange Act.</FONT></P>
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     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Large accelerated filer&nbsp;<FONT face=Wingdings>&#168;</FONT></FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Accelerated filer [x]</FONT>&nbsp;</TD></TR>
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     <TD colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Non-accelerated filer&nbsp;<FONT face=Wingdings>&#168;</FONT></FONT><FONT size=2 face="Times New Roman,Times New Roman,Times,serif"> </FONT><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(Do not check if a smaller reporting company) Smaller reporting company <FONT face=Wingdings>&#168;</FONT></FONT></TD></TR></TABLE></DIV><BR>
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     <TD style="BORDER-BOTTOM: #000000 3px double" colSpan=3 noWrap align=right><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">CALCULATION OF REGISTRATION FEE</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=left>&nbsp;</TD></TR>
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     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Proposed</FONT></B>&nbsp;</TD>
     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Proposed</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
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     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">maximum</FONT></B>&nbsp;</TD>
     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">maximum</FONT></B>&nbsp;</TD>
     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Amount of</FONT></B>&nbsp;</TD></TR>
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     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Title of each class of</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Amount to be</FONT></B>&nbsp;</TD>
     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">offering price</FONT></B>&nbsp;</TD>
     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">aggregate</FONT></B>&nbsp;</TD>
     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">registration</FONT></B>&nbsp;</TD></TR>
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     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">securities to be registered (1)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">registered</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">per share (2)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">offering price (2)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">fee</FONT></B>&nbsp;</TD></TR>
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     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Class A Common Shares, no par value</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">1,375,800 Shares</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">S1.01</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">$1,389,558</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">$77.54</FONT>&nbsp;</TD></TR>
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     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=center><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Class A Common Share Purchase Rights</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">1,375,800 Rights</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=center><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">N/A</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=center><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">N/A</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=center><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">N/A (3)</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
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     <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(1)</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">The Class A Common Shares, no par value per share (the &#147;Class A Common Shares&#148;), of Gold Reserve Inc. (the &#147;Company&#148;) being registered hereby relate to the Gold Reserve Inc. Equity Incentive Plan, as amended, (the &#147;Plan&#148;). Pursuant to Rule 416 promulgated under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;), there are also being registered such additional Class A Common Shares and associated Class A Common Share Purchase Rights as may become issuable pursuant to the anti-dilution provisions of the Plan.</FONT> </TD></TR>
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     <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(2)</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">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 per share prices of the Class A Common Shares on October 19, 2009, as reported on the NYSE Amex.</FONT> </TD></TR>
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     <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(3)</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">In accordance with Rule 457(g), no additional registration fee is required in respect of the Class A Common Share Purchase Rights.</FONT> </TD></TR></TABLE>
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     <TD align="center" nowrap> <B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">INCORPORATION BY REFERENCE</FONT></B></TD></TR></TABLE> </P>
<P style="text-align: left;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">The issuance of the additional 1,375,800 Class A Common Shares, and Class A Common Share Purchase Rights attaching to such shares, being registered hereby shall be issued under the Plan, which was amended as of January 29, 2006 to increase the number of Class A Common Shares available for issuance under the Plan pursuant an "evergreen" provision (which provides that the total number of Class A Common Shares subject to issuance under the Plan shall be 10% of the Company's outstanding Class A Common Shares from time to time). The Plan was reaffirmed by Shareholders June 11, 2009. Pursuant to Instruction E of Form S-8, the contents of the following Registration Statements on Form S-8 are incorporated herein by reference:</FONT></P>
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     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">1.</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">the Company, as filed with the Securities and Exchange Commission: (a) Registration Statement on Form</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">S-8 (Registration No. 333-152882), (b) Registration Statement on Form S-8 (Registration No. 333-</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">151589), as amended; (c) Registration Statement on Form S-8 (Registration No. 333-145769), as amended;</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(d) Registration Statement on Form S-8 (Registration No. 333-139463), as amended; (e) Registration</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Statement on Form S-8 (Registration No. 333-138128), as amended; (f) Registration Statement on Form S-</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">8 (Registration No.333-135756), as amended; (g) Registration Statement on Form S-8 (Registration No.</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">333-133421), as amended; (h) Registration Statement on Form S-8 (Registration No. 333-127336), as</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">amended; (i) Registration Statement on Form S-8 (Registration No. 333-119037), as amended; (j)</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Registration Statement on Form S-8 (Registration No. 333-110927),as amended; and (k) Registration</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Statement on Form S-8 (Registration No. 333-56495), as amended; and</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">2.</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Gold Reserve Corporation, as assumed by the Company as successor issuer, as filed with the Securities and</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Exchange Commission: (a) Registration Statement on Form S-8 (Registration No. 033-61113), as amended;</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(b) Registration Statement on Form S-8 (Registration No. 033-58700), as amended; (c) Registration</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Statement on Form S-8 (Registration No. 033-69912), as amended; and (d) Registration Statement on Form</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">S-8 (Registration No. 033-35595), as amended).</FONT>&nbsp;</TD> </TR> </TABLE><BR>
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     <TD nowrap> <B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Item 3. Incorporation of Documents by Reference.</FONT></B><BR>
<BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">The following items are incorporated herein by reference:</FONT></TD></TR></TABLE> </P>
<UL>
<LI> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">The Company&#146;s Annual Report on Form 20-F, filed March 31, 2009;</FONT></LI>
<LI> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">All other reports filed pursuant to Section 13(a) or 15(d) of the Securities and Exchange Act of</FONT> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">1934, as amended, since the end of the fiscal year covered by the Company&#146;s Annual Report on</FONT> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Form 20-F filed March 31, 2009;</FONT></LI>
<LI> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">The description of the Class A Common Shares registered hereby contained in the Company&#146;s</FONT> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Registration Statement on Form S-4 filed on November 27, 1998 under the section entitled</FONT> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">&#147;DESCRIPTION OF SECURITIES AND COMPARISON OF RIGHTS OF</FONT><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">SHAREHOLDERS&#148;; and</FONT></LI>
<LI> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">The description of the Class A Common Share Purchase Rights registered hereby contained in the</FONT> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Company&#146;s Form 6-K (Exhibit 99.1, Appendix C) dated May 14, 2009.</FONT></LI> </UL>
<P style="text-align: left;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 subsequent to its filing of this registration statement, but prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be a part hereof from the date of filing of such documents.</FONT></P>
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<P style="text-align: left;"> <B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Item 8. Exhibits.</FONT></B></P>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">The following are filed as exhibits to this registration statement:</FONT></P>
<P style="text-align: left;"> <B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Exhibit</FONT></B></P>
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     <TD align=left nowrap> <B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Number</FONT></B>&nbsp;</TD>
     <TD align=center nowrap style="border-bottom:1px solid #000000;"> <B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Description</FONT></B>&nbsp;</TD> </TR>
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     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">4.1</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Gold Reserve Inc. Equity Incentive Plan (incorporated by reference to Exhibit 3.2 to the Company&#146;s</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Annual Report on Form 20-F (File No. 001-31819) filed with the Securities and Exchange Commission</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">on April 3, 2006)*</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">4.2</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Restated Articles of Incorporation of the Company (incorporated by reference to Exhibit No. 3.1 to the</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Proxy Statement/Joint Prospectus included as part of the Company&#146;s registration statement on Form S-4</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(Registration No. 333-68061) filed with the Securities and Exchange Commission on November 27,</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">1998)</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">4.3</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Bylaws of the Company (incorporated by reference to Exhibit No. 3.2 to the Proxy Statement/ Joint</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Prospectus included as part of the Company&#146;s registration statement on Form S-4 (Registration No.333-</FONT>&nbsp;</TD> </TR>
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     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">68061) filed with the Securities and Exchange Commission on November 27, 1998)</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">4.4</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Shareholder Rights Plan Agreement (as Amended) of the Company (including form of Rights</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Certificate) (incorporated by reference to Exhibit 99.1, Appendix C of the Company's Form 6-K filed</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">with the Securities and Exchange Commission on May 14, 2009)</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">4.5</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Form of Certificate for the Class A Common Shares (incorporated by reference to Exhibit 4.4 to the</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Company&#146;s registration statement on Form S-4 (Registration No. 333-68061) filed with the Securities</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">and Exchange Commission on November 27, 1998)</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">5.1</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Opinion of Austring, Fendrick, Fairman &amp; Parkkari *</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">23.1</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Consent of Austring, Fendrick, Fairman &amp; Parkkari (see Exhibit 5.1)*</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">23.2</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Consent of PricewaterhouseCoopers LLP*</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">23.3</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Consent of Pincock Allen &amp; Holt*</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">23.4</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Consent of Marston &amp; Marston, Inc.*</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">24.1</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Power of Attorney (included on the signature page of the registration statement)*</FONT>&nbsp;</TD> </TR> </TABLE><BR>
<TABLE border=0 cellspacing=0>
<TR>
     <TD nowrap valign=top width="2%"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">*</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
     <TD width="98%"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Filed herewith.</FONT>	</TD> </TR> </TABLE>
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<P style="text-align: center;">
<TABLE>
<TR>
     <TD align="center" nowrap> <B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">SIGNATURES</FONT></B></TD></TR></TABLE> </P>
<P style="text-align: left;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Act of 1933, the Company 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 October 20, 2009</FONT><FONT color="#9a3365" size=2 face="Times New Roman,Times New Roman,Times,serif">.</FONT></P>
<P style="text-align: left;">
<TABLE>
<TR>
     <TD width=251>&nbsp;</TD>
     <TD nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">GOLD RESERVE INC.</FONT><BR>
<BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">By: /s/ Rockne J. Timm</FONT><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">ROCKNE J. TIMM</FONT><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Chief Executive Officer and Director</FONT></TD></TR></TABLE> </P>
<P style="text-align: center;">
<TABLE>
<TR>
     <TD align="center" nowrap> <B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">POWER OF ATTORNEY</FONT></B></TD></TR></TABLE> </P>
<P style="text-align: left;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">KNOW ALL MEN BY THESE PRESENTS that each of the undersigned directors and officers of Gold Reserve Inc. hereby appoints Rockne J. Timm his true and lawful attorney-in-fact and agent, for him and in his name, place and stead, with full power to act alone, to sign on his behalf and in the capacity set forth below, any and all amendments and post-effective amendments to this Registration Statement on Form S-8 and to file each such amendment and post-effective amendment to this Registration Statement, with all exhibits thereto, and any and all other documents in connection therewith, with the Securities and Exchange Commission, hereby granting unto said attorney-in-fact and agent full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent may lawfully do or cause to be done by virtue hereof.</FONT></P>
<P style="text-align: left;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.</FONT></P>
<TABLE border=0 cellspacing=0>
<TR>
     <TD width=33%></TD>
     <TD width=49%></TD>
     <TD width=16%></TD></TR>
<TR valign="bottom">
     <TD align=left nowrap style="border-bottom:1px solid #000000;"> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Signature</FONT>&nbsp;</TD>
     <TD align=center nowrap style="border-bottom:1px solid #000000;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Title</FONT>&nbsp;</TD>
     <TD align=left nowrap style="border-bottom:1px solid #000000;"> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap style="border-bottom:1px solid #000000;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">/s/ Rockne J. Timm</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Chief Executive Officer (Principal Executive</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 20, 2009</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">ROCKNE J. TIMM</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Officer) and Director</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap style="border-bottom:1px solid #000000;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">/s/ Robert A. McGuinness</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Vice President Finance and Chief Financial</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 20, 2009</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">ROBERT A. McGUINNESS</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Officer (Principal Financial and Accounting</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Officer)</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap style="border-bottom:1px solid #000000;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">/s/ A. Douglas Belanger</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">President and Director</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 20, 2009</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">A. DOUGLAS BELANGER</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap style="border-bottom:1px solid #000000;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">/s/ James P. Geyer</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Senior Vice President and Director</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 20, 2009</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">JAMES P. GEYER</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap style="border-bottom:1px solid #000000;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">/s/ James H. Coleman</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Chairman of the Board</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 20, 2009</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">JAMES H. COLEMAN</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap style="border-bottom:1px solid #000000;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">/s/ Patrick D. McChesney</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Director</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 20, 2009</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">PATRICK D. McCHESNEY</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap style="border-bottom:1px solid #000000;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">/s/ Chris D. Mikkelsen</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Director</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 20, 2009</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">CHRIS D. MIKKELSEN</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap style="border-bottom:1px solid #000000;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">/s/ Jean Charles Potvin</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Director</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 20, 2009</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">JEAN CHARLES POTVIN</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR> </TABLE><BR>
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<TABLE>
<TR>
     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">EXHIBIT LIST</FONT></B></TD></TR></TABLE></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="8%"></TD>
     <TD width="91%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Exhibit</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Number</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT size=2 face="Times New Roman,Bold,Times New Roman,Times,serif">Description</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">4.1</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Gold Reserve Inc. Equity Incentive Plan (incorporated by reference to Exhibit 3.2 to the Company's</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Annual Report on Form 20-F (File No. 001-31819) filed with the Securities and Exchange Commission</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">on April 3, 2006)*</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">4.2</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Restated Articles of Incorporation of the Company (incorporated by reference to Exhibit No. 3.1 to the</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Proxy Statement/Joint Prospectus included as part of the Company&#146;s registration statement on Form S-4</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">(Registration No. 333-68061) filed with the Securities and Exchange Commission on November</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">27,1998)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">4.3</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Bylaws of the Company (incorporated by reference to Exhibit No. 3.2 to the Proxy Statement/Joint</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Prospectus included as part of the Company&#146;s registration statement on Form S-4 (Registration No.333-</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">68061) filed with the Securities and Exchange Commission on November 27, 1998)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">4.4</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Shareholder Rights Plan Agreement (as Amended) of the Company (including form of Rights</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Certificate) included as Exhibit 99.1, Appendix C of the Company's Form 6-K filed with the Securities</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">and Exchange Commission on May 14, 2009</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">4.5</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Form of Certificate for the Class A Common Shares (incorporated by reference to Exhibit 4.4 to the</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Company&#146;s registration statement on Form S-4 (Registration No. 333-68061) filed with the Securities</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">and Exchange Commission on November 27, 1998)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">5.1</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Opinion of Austring, Fendrick, Fairman &amp; Parkkari *</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">23.1</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Consent of Austring, Fendrick, Fairman &amp; Parkkari (see Exhibit 5.1)*</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">23.2</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Consent of PricewaterhouseCoopers LLP*</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">23.3</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Consent of Pincock Allen &amp; Holt*</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">23.4</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Consent of Marston &amp; Marston, Inc.*</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>&nbsp;</TD></TR>
<TR>
     <TD style="BORDER-BOTTOM-STYLE: solid; BORDER-BOTTOM-COLOR: #000000; TEXT-INDENT: 0px" noWrap align=left><FONT color=#000000 size=2 face="Times New Roman,Times New Roman,Times,serif">&nbsp;24.1</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM-STYLE: solid; BORDER-BOTTOM-COLOR: #000000; TEXT-INDENT: 0px" noWrap align=left><FONT color=#000000 size=2 face="Times New Roman,Times New Roman,Times,serif">Power of Attorney (included on the signature page of the registration statement)*</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2></TD></TR>
<TR>
     <TD colSpan=2>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">* Filed herewith.</FONT>&nbsp;</TD></TR></TABLE><BR>
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<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">EXHIBIT 5.1</FONT></P>
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<P style="text-align: center;"> <B><FONT size=5 face="Times New Roman,Bold,Times New Roman,Times,serif">AUSTRING, FENDRICK, FAIRMAN &amp; PARKKARI</FONT></B></P>
<P style="text-align: center;">
<TABLE>
<TR>
     <TD align="center" nowrap> <FONT face="Times New Roman,Times New Roman,Times,serif">BARRISTERS &amp; SOLICITORS</FONT></TD></TR></TABLE> </P>
<TABLE border=0 cellspacing=0>
<TR>
     <TD width=19%></TD>
     <TD width=42%></TD>
     <TD width=38%></TD></TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">LORNE N. AUSTRING</FONT>&nbsp;</TD>
     <TD align=center nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">DEBRA L. FENDRICK</FONT>&nbsp;</TD>
     <TD align=right nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">3081 Third Avenue</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">H. SHAYNE FAIRMAN</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp; &nbsp;<FONT size=1 face="Times New Roman,Times New Roman,Times,serif">KEITH D. PARKKARI</FONT>&nbsp;</TD>
     <TD align=right nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">Whitehorse, Yukon</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">GREGORY A. FEKETE</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp; &nbsp;<FONT size=1 face="Times New Roman,Times New Roman,Times,serif">ANNA J. PUGH</FONT>&nbsp;</TD>
     <TD align=right nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">Y1A 4Z7</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">STEPHANIE M. SCHORR</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp; &nbsp;<FONT size=1 face="Times New Roman,Times New Roman,Times,serif">MIKE A. REYNOLDS</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">KYLE J. CARRUTHERS</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=right nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">PHONE: (867) 668-4405</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=right nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">FAX: (867) 668-3710</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=right nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">E-MAIL: gf@lawyukon.com</FONT>&nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">OUR FILE NO:</FONT>&nbsp;</TD>
     <TD align=left nowrap> <FONT size=1 face="Times New Roman,Times New Roman,Times,serif">014910-21</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 5, 2009</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap colspan=2> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">United States Securities and Exchange Commission</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap colspan=2> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Washington, DC 20549 USA</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Gold Reserve Inc.</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap colspan=2> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">926 West Sprague Avenue, Suite 200</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Spokane, Washington</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">99201 USA</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR>
<TR>
     <TD colspan=3> &nbsp;</TD> </TR>
<TR valign="bottom">
     <TD align=left nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Dear Sirs/Mesdames:</FONT>&nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD>
     <TD align=left nowrap> &nbsp;</TD> </TR> </TABLE><BR>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Re: </FONT><U><FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Securities and Exchange Commission Form S-8</FONT></U></P>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">We are Yukon counsel to Gold Reserve Inc., a corporation incorporated under the laws of the Yukon Territory (the "Company"). The Company adopted an Equity Incentive Plan in 1997, which was amended and restated as of January 29, 2006 (the &#147;Equity Plan&#148;). The Equity Plan was further amended and restated on November 12, 2008, with an effective date of January 1, 2008. The Equity Plan permits the grant of stock options, stock appreciation rights and restricted stock for the employees, directors and consultants of the Company and its subsidiaries. The total number of shares subject to issuance under the Plan, whether in the form of restricted stock, options, or stock appreciation rights, or any combination thereof, is 10% of the Corporation's outstanding shares, from time to time.</FONT></P>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">The Company proposes to increase the number of shares authorized for issuance under the Equity Plan by 1,375,800 Class A Common shares, no par value per share. The shares will include the Class A Common Share Purchase Rights attaching to such shares pursuant to that certain Shareholder Rights Plan Agreement, amended and restated as of January 29, 2006, between the Company and Computershare Trust Company of Canada (the &#147;Rights Agreement&#148;), which shall be issued pursuant to the Equity Plan, and will also include such additional Class A Common Shares as may become issuable pursuant to the anti-dilution provisions of the Equity Plan (such shares are collectively referred to as the "Securities").</FONT></P>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">The increase to the number of shares authorized for issuance under the Equity Plan by 1,375,800 shares will result in the maximum number of shares available for issuance of 5,817,079 shares, which represents 10% of the Company's common shares outstanding.</FONT></P>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">In rendering this opinion we have examined such corporate records, documents and instruments of the Company and such certificates of public officials, have received such representations from officers of the Company, and have reviewed such questions of law as in our judgment are necessary, relevant or appropriate to enable us to render the opinion expressed below. In such examination, we have assumed the genuineness of all signatures, the authenticity of all corporate records, documents and instruments submitted to us as originals, the conformity to original documents of all documents submitted to us as conformed, certified or photo static copies thereof, and the authenticity of the originals of such conformed, certified or photostatic copies.</FONT></P>
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<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Based upon such examination and review and upon representations made to us by officers of the Company, we are of the opinion that upon issuance and delivery of the Securities in accordance with the terms and conditions of the Equity Plan and, as appropriate, the Rights Agreement, and upon receipt by the Company of the full consideration for the Securities as determined pursuant to the Equity Plan and, as appropriate, the Rights Agreement, the Securities will be validly issued, fully paid and non-assessable.</FONT></P>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">This opinion is solely for your benefit and is not to be relied upon or reviewed by any other party without our prior written consent.</FONT></P>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Yours truly,</FONT></P>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">s/ </FONT><I><FONT size=2 face="Times New Roman,Italic,Times New Roman,Times,serif">Austring, Fendrick, Fairman &amp; Parkkari</FONT></I></P>
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<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">EXHIBIT 23.2</FONT></P>
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<P style="text-align: center;">
<TABLE>
<TR>
     <TD align="center" nowrap> <B><FONT face="Times New Roman,Bold,Times New Roman,Times,serif">Consent of Independent Accountants</FONT></B></TD></TR></TABLE> </P>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 (Gold Reserve Inc. Equity Incentive Plan) of our report dated March 30, 2009 relating to the consolidated financial statements of Gold Reserve Inc., which appears in Gold Reserve Inc.&#146;s Annual Report on Form 20-F for the year ended December 31, 2008.</FONT></P>
<P style="text-align: left;">
<TABLE>
<TR>
     <TD nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">s/ PricewaterhouseCoopers LLP</FONT><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Vancouver, B.C., Canada</FONT><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 20, 2009</FONT></TD></TR></TABLE> </P>
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<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">EXHIBIT 23.3</FONT></P>
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<P style="text-align: center;">
<TABLE>
<TR>
     <TD align="center" nowrap> <B><FONT face="Times New Roman,Bold,Times New Roman,Times,serif">Consent of Pincock, Allen &amp; Holt</FONT></B></TD></TR></TABLE> </P>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 (Gold Reserve Inc. Equity Incentive Plan) to references to this firm, which appear in Gold Reserve Inc.'s Annual Report on Form 20-F for the year ended December 31, 2008. In giving this consent, we do not thereby admit that we are an &#147;expert&#148; within the meaning of the Securities Act of 1933, as amended.</FONT></P>
<P style="text-align: left;">
<TABLE>
<TR>
     <TD width=35>&nbsp;</TD>
     <TD nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Pincock, Allen &amp; Holt.</FONT><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 19, 2009</FONT></TD></TR></TABLE> </P>
<P style="text-align: left;">
<TABLE>
<TR>
     <TD width=35>&nbsp;</TD>
     <TD nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">s/ Richard Addison, P.E.</FONT><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Principal Process Engineer</FONT><BR>
<BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">s/ Barton G. Stone, C.P.G.</FONT><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Chief Geologist</FONT></TD></TR></TABLE> </P>
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<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">EXHIBIT 23.4</FONT></P>
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<P style="text-align: center;">
<TABLE>
<TR>
     <TD align="center" nowrap> <B><FONT face="Times New Roman,Bold,Times New Roman,Times,serif">Consent of Marston &amp; Marston, Inc.</FONT></B></TD></TR></TABLE> </P>
<P style="text-align: left;"> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 (Gold Reserve Inc. Equity Incentive Plan) to references to this firm, which appear in Gold Reserve Inc.'s Annual Report on Form 20-F for the year ended December 31, 2008. In giving this consent, we do not thereby admit that we are an &#147;expert&#148; within the meaning of the Securities Act of 1933, as amended.</FONT></P>
<P style="text-align: left;">
<TABLE>
<TR>
     <TD nowrap> <FONT size=2 face="Times New Roman,Times New Roman,Times,serif">s/ Marston &amp; Marston, Inc.</FONT><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Susan Poos</FONT><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">Vice President &amp; Senior Mining Consultant</FONT><BR>
<FONT size=2 face="Times New Roman,Times New Roman,Times,serif">October 15, 2009</FONT></TD></TR></TABLE> </P>
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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": "333-162587", "film-number": "091128403"}, "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"}}
s8eipoct09.htm - Generated by SEC Publisher for SEC Filing
As filed with the Securities and Exchange Commission on October 20, 2009
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)
Canada
(State or other jurisdiction of incorporation or organization)
926 West Sprague Avenue
Suite 200 Spokane, Washington
(Address of principal executive offices)
N/A
(I.R.S. Employer Identification No.)
99201
(Zip Code)
GOLD RESERVE INC. 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)
with a copy to:
JONATHAN B. NEWTON
Baker & McKenzie LLP Pennzoil Place, South Tower 711 Louisiana, Suite 3400
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 12b2 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
Proposed
Proposed
maximum
maximum
Amount of
Title of each class of
Amount to be
offering price
aggregate
registration
securities to be registered (1)
registered
per share (2)
offering price (2)
fee
Class A Common Shares, no par value
1,375,800 Shares
S1.01
$1,389,558
$77.54
Class A Common Share Purchase Rights
1,375,800 Rights
N/A
N/A
N/A (3)
(1)
The Class A Common Shares, no par value per share (the "Class A Common Shares"), of Gold Reserve Inc. (the "Company") being registered hereby relate to the Gold Reserve Inc. Equity Incentive Plan, as amended, (the "Plan"). Pursuant to Rule 416 promulgated under the Securities Act of 1933, as amended (the "Securities Act"), there are also being registered such additional Class A Common Shares and associated Class A Common Share Purchase Rights as may become issuable pursuant to the anti-dilution provisions of the Plan.
(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 per share prices of the Class A Common Shares on October 19, 2009, as reported on the NYSE Amex.
(3)
In accordance with Rule 457(g), no additional registration fee is required in respect of the Class A Common Share Purchase Rights.
INCORPORATION BY REFERENCE
The issuance of the additional 1,375,800 Class A Common Shares, and Class A Common Share Purchase Rights attaching to such shares, being registered hereby shall be issued under the Plan, which was amended as of January 29, 2006 to increase the number of Class A Common Shares available for issuance under the Plan pursuant an "evergreen" provision (which provides that the total number of Class A Common Shares subject to issuance under the Plan shall be 10% of the Company's outstanding Class A Common Shares from time to time). The Plan was reaffirmed by Shareholders June 11, 2009. Pursuant to Instruction E of Form S-8, the contents of the following Registration Statements on Form S-8 are incorporated herein by reference:
1.
the Company, as filed with the Securities and Exchange Commission: (a) Registration Statement on Form
S-8 (Registration No. 333-152882), (b) Registration Statement on Form S-8 (Registration No. 333-
151589), as amended; (c) Registration Statement on Form S-8 (Registration No. 333-145769), as amended;
(d) Registration Statement on Form S-8 (Registration No. 333-139463), as amended; (e) Registration
Statement on Form S-8 (Registration No. 333-138128), as amended; (f) Registration Statement on Form S-
8 (Registration No.333-135756), as amended; (g) Registration Statement on Form S-8 (Registration No.
333-133421), as amended; (h) Registration Statement on Form S-8 (Registration No. 333-127336), as
amended; (i) Registration Statement on Form S-8 (Registration No. 333-119037), as amended; (j)
Registration Statement on Form S-8 (Registration No. 333-110927),as amended; and (k) Registration
Statement on Form S-8 (Registration No. 333-56495), as amended; and
2.
Gold Reserve Corporation, as assumed by the Company as successor issuer, as filed with the Securities and
Exchange Commission: (a) Registration Statement on Form S-8 (Registration No. 033-61113), as amended;
(b) Registration Statement on Form S-8 (Registration No. 033-58700), as amended; (c) Registration
Statement on Form S-8 (Registration No. 033-69912), as amended; and (d) Registration Statement on Form
S-8 (Registration No. 033-35595), as amended).
Item 3. Incorporation of Documents by Reference.
The following items are incorporated herein by reference:
The Company's Annual Report on Form 20-F, filed March 31, 2009;
All other reports filed pursuant to Section 13(a) or 15(d) of the Securities and Exchange Act of
1934, as amended, since the end of the fiscal year covered by the Company's Annual Report on
Form 20-F filed March 31, 2009;
The description of the Class A Common Shares registered hereby contained in the Company's
Registration Statement on Form S-4 filed on November 27, 1998 under the section entitled
"DESCRIPTION OF SECURITIES AND COMPARISON OF RIGHTS OF
SHAREHOLDERS"; and
The description of the Class A Common Share Purchase Rights registered hereby contained in the
Company's Form 6-K (Exhibit 99.1, Appendix C) dated May 14, 2009.
All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 subsequent to its filing of this registration statement, but prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be a part hereof from the date of filing of such documents.
Item 8. Exhibits.
The following are filed as exhibits to this registration statement:
Exhibit
Number
Description
4.1
Gold Reserve Inc. Equity Incentive Plan (incorporated by reference to Exhibit 3.2 to the Company's
Annual Report on Form 20-F (File No. 001-31819) filed with the Securities and Exchange Commission
on April 3, 2006)*
4.2
Restated Articles of Incorporation of the Company (incorporated by reference to Exhibit No. 3.1 to the
Proxy Statement/Joint Prospectus included as part of the Company's registration statement on Form S-4
(Registration No. 333-68061) filed with the Securities and Exchange Commission on November 27,
1998)
4.3
Bylaws of the Company (incorporated by reference to Exhibit No. 3.2 to the Proxy Statement/ Joint
Prospectus included as part of the Company's registration statement on Form S-4 (Registration No.333-
68061) filed with the Securities and Exchange Commission on November 27, 1998)
4.4
Shareholder Rights Plan Agreement (as Amended) of the Company (including form of Rights
Certificate) (incorporated by reference to Exhibit 99.1, Appendix C of the Company's Form 6-K filed
with the Securities and Exchange Commission on May 14, 2009)
4.5
Form of Certificate for the Class A Common Shares (incorporated by reference to Exhibit 4.4 to the
Company's registration statement on Form S-4 (Registration No. 333-68061) filed with the Securities
and Exchange Commission on November 27, 1998)
5.1
Opinion of Austring, Fendrick, Fairman & Parkkari *
23.1
Consent of Austring, Fendrick, Fairman & Parkkari (see Exhibit 5.1)*
23.2
Consent of PricewaterhouseCoopers LLP*
23.3
Consent of Pincock Allen & Holt*
23.4
Consent of Marston & Marston, Inc.*
24.1
Power of Attorney (included on the signature page of the registration statement)*
*
Filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Company 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 October 20, 2009
.
GOLD RESERVE INC.
By: /s/ Rockne J. Timm
ROCKNE J. TIMM
Chief Executive Officer and Director
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that each of the undersigned directors and officers of Gold Reserve Inc. hereby appoints Rockne J. Timm his true and lawful attorney-in-fact and agent, for him and in his name, place and stead, with full power to act alone, to sign on his behalf and in the capacity set forth below, any and all amendments and post-effective amendments to this Registration Statement on Form S-8 and to file each such amendment and post-effective amendment to this Registration Statement, with all exhibits thereto, and any and all other documents in connection therewith, with the Securities and Exchange Commission, hereby granting unto said attorney-in-fact and agent full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.
Signature
Title
Date
/s/ Rockne J. Timm
Chief Executive Officer (Principal Executive
October 20, 2009
ROCKNE J. TIMM
Officer) and Director
/s/ Robert A. McGuinness
Vice President Finance and Chief Financial
October 20, 2009
ROBERT A. McGUINNESS
Officer (Principal Financial and Accounting
Officer)
/s/ A. Douglas Belanger
President and Director
October 20, 2009
A. DOUGLAS BELANGER
/s/ James P. Geyer
Senior Vice President and Director
October 20, 2009
JAMES P. GEYER
/s/ James H. Coleman
Chairman of the Board
October 20, 2009
JAMES H. COLEMAN
/s/ Patrick D. McChesney
Director
October 20, 2009
PATRICK D. McCHESNEY
/s/ Chris D. Mikkelsen
Director
October 20, 2009
CHRIS D. MIKKELSEN
/s/ Jean Charles Potvin
Director
October 20, 2009
JEAN CHARLES POTVIN
EXHIBIT LIST
Exhibit
Number
Description
4.1
Gold Reserve Inc. Equity Incentive Plan (incorporated by reference to Exhibit 3.2 to the Company's
Annual Report on Form 20-F (File No. 001-31819) filed with the Securities and Exchange Commission
on April 3, 2006)*
4.2
Restated Articles of Incorporation of the Company (incorporated by reference to Exhibit No. 3.1 to the
Proxy Statement/Joint Prospectus included as part of the Company's registration statement on Form S-4
(Registration No. 333-68061) filed with the Securities and Exchange Commission on November
27,1998)
4.3
Bylaws of the Company (incorporated by reference to Exhibit No. 3.2 to the Proxy Statement/Joint
Prospectus included as part of the Company's registration statement on Form S-4 (Registration No.333-
68061) filed with the Securities and Exchange Commission on November 27, 1998)
4.4
Shareholder Rights Plan Agreement (as Amended) of the Company (including form of Rights
Certificate) included as Exhibit 99.1, Appendix C of the Company's Form 6-K filed with the Securities
and Exchange Commission on May 14, 2009
4.5
Form of Certificate for the Class A Common Shares (incorporated by reference to Exhibit 4.4 to the
Company's registration statement on Form S-4 (Registration No. 333-68061) filed with the Securities
and Exchange Commission on November 27, 1998)
5.1
Opinion of Austring, Fendrick, Fairman & Parkkari *
23.1
Consent of Austring, Fendrick, Fairman & Parkkari (see Exhibit 5.1)*
23.2
Consent of PricewaterhouseCoopers LLP*
23.3
Consent of Pincock Allen & Holt*
23.4
Consent of Marston & Marston, Inc.*
24.1
Power of Attorney (included on the signature page of the registration statement)*
* Filed herewith.
EXHIBIT 5.1
AUSTRING, FENDRICK, FAIRMAN & PARKKARI
BARRISTERS & SOLICITORS
LORNE N. AUSTRING
DEBRA L. FENDRICK
3081 Third Avenue
H. SHAYNE FAIRMAN
KEITH D. PARKKARI
Whitehorse, Yukon
GREGORY A. FEKETE
ANNA J. PUGH
Y1A 4Z7
STEPHANIE M. SCHORR
MIKE A. REYNOLDS
KYLE J. CARRUTHERS
PHONE: (867) 668-4405
FAX: (867) 668-3710
E-MAIL: gf@lawyukon.com
OUR FILE NO:
014910-21
October 5, 2009
United States Securities and Exchange Commission
Washington, DC 20549 USA
Gold Reserve Inc.
926 West Sprague Avenue, Suite 200
Spokane, Washington
99201 USA
Dear Sirs/Mesdames:
Re:
Securities and Exchange Commission Form S-8
We are Yukon counsel to Gold Reserve Inc., a corporation incorporated under the laws of the Yukon Territory (the "Company"). The Company adopted an Equity Incentive Plan in 1997, which was amended and restated as of January 29, 2006 (the "Equity Plan"). The Equity Plan was further amended and restated on November 12, 2008, with an effective date of January 1, 2008. The Equity Plan permits the grant of stock options, stock appreciation rights and restricted stock for the employees, directors and consultants of the Company and its subsidiaries. The total number of shares subject to issuance under the Plan, whether in the form of restricted stock, options, or stock appreciation rights, or any combination thereof, is 10% of the Corporation's outstanding shares, from time to time.
The Company proposes to increase the number of shares authorized for issuance under the Equity Plan by 1,375,800 Class A Common shares, no par value per share. The shares will include the Class A Common Share Purchase Rights attaching to such shares pursuant to that certain Shareholder Rights Plan Agreement, amended and restated as of January 29, 2006, between the Company and Computershare Trust Company of Canada (the "Rights Agreement"), which shall be issued pursuant to the Equity Plan, and will also include such additional Class A Common Shares as may become issuable pursuant to the anti-dilution provisions of the Equity Plan (such shares are collectively referred to as the "Securities").
The increase to the number of shares authorized for issuance under the Equity Plan by 1,375,800 shares will result in the maximum number of shares available for issuance of 5,817,079 shares, which represents 10% of the Company's common shares outstanding.
In rendering this opinion we have examined such corporate records, documents and instruments of the Company and such certificates of public officials, have received such representations from officers of the Company, and have reviewed such questions of law as in our judgment are necessary, relevant or appropriate to enable us to render the opinion expressed below. In such examination, we have assumed the genuineness of all signatures, the authenticity of all corporate records, documents and instruments submitted to us as originals, the conformity to original documents of all documents submitted to us as conformed, certified or photo static copies thereof, and the authenticity of the originals of such conformed, certified or photostatic copies.
Based upon such examination and review and upon representations made to us by officers of the Company, we are of the opinion that upon issuance and delivery of the Securities in accordance with the terms and conditions of the Equity Plan and, as appropriate, the Rights Agreement, and upon receipt by the Company of the full consideration for the Securities as determined pursuant to the Equity Plan and, as appropriate, the Rights Agreement, the Securities will be validly issued, fully paid and non-assessable.
This opinion is solely for your benefit and is not to be relied upon or reviewed by any other party without our prior written consent.
Yours truly,
s/
Austring, Fendrick, Fairman & Parkkari
EXHIBIT 23.2
Consent of Independent Accountants
We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 (Gold Reserve Inc. Equity Incentive Plan) of our report dated March 30, 2009 relating to the consolidated financial statements of Gold Reserve Inc., which appears in Gold Reserve Inc.'s Annual Report on Form 20-F for the year ended December 31, 2008.
s/ PricewaterhouseCoopers LLP
Vancouver, B.C., Canada
October 20, 2009
EXHIBIT 23.3
Consent of Pincock, Allen & Holt
We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 (Gold Reserve Inc. Equity Incentive Plan) to references to this firm, which appear in Gold Reserve Inc.'s Annual Report on Form 20-F for the year ended December 31, 2008. In giving this consent, we do not thereby admit that we are an "expert" within the meaning of the Securities Act of 1933, as amended.
Pincock, Allen & Holt.
October 19, 2009
s/ Richard Addison, P.E.
Principal Process Engineer
s/ Barton G. Stone, C.P.G.
Chief Geologist
EXHIBIT 23.4
Consent of Marston & Marston, Inc.
We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 (Gold Reserve Inc. Equity Incentive Plan) to references to this firm, which appear in Gold Reserve Inc.'s Annual Report on Form 20-F for the year ended December 31, 2008. In giving this consent, we do not thereby admit that we are an "expert" within the meaning of the Securities Act of 1933, as amended.
s/ Marston & Marston, Inc.
Susan Poos
Vice President & Senior Mining Consultant
October 15, 2009