Gold Reserve signs EP & CM contracts with SNC-Lavalin for $638 million Brisas project

On April 24, 2006 Gold Reserve Inc. reported that it had signed Engineering Procurement and Construction Management contracts with SNC-Lavalin Engineers & Constructors, Inc. and its affiliates with respect to its Brisas project in Venezuela. The scope of work for the contracts includes detailed engineering, procurement and construction management for the process, infrastructure, tailings and camp facilities.

Initial capital cost for the Brisas project is estimated to be approximately $638 million.

Fasken Martineau advised Gold Reserve with respect to these contracts, with a team that included Helmut Johannsen and Andrew Gabrielson in Vancouver and Chuck Higgins in Toronto.