11:40 AM EST - Gold Reserve Inc. : said less than 3% of its outstanding shares have been tendered under a hostile bid from Rusoro Mining Ltd. Rusoro extended of its unsolicited offer of December 15, 2008 to acquire all of the outstanding shares and equity units of Gold Reserve in consideration for three shares of Rusoro for each Gold Reserve share tendered under the Offer. Gold Reserve urged its shareholders not to tender their shares into Rusoro's inadequate Offer. Gold Reserve Inc.
shares T.GRZ are trading up $0.15 at $1.35.
