PEMBROKE, Bermuda–(BUSINESS WIRE)–Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that the $7.1 billion bid, with fully committed financing from two large financial institutions, submitted by the Company’s US subsidiary, Dalinar Energy Corporation (“Dalinar Energy”), was not recommended by the Special Master as the “Stalking Horse” or the “Base Bid” for the purchase of the shares of PDV Holding, Inc. (“PDVH”), the indirect parent company of CITGO Petr