Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
May 27	B	Weak or Absent	Up	Up	Up	-44.56%
May 23	B	Weak or Absent	Up	Up	Up	-43.75%
May 22	C	Weak or Absent	Up	Up	Down	-40.27%
May 21	B	Weak or Absent	Up	Up	Up	-42.43%
May 17	C	Weak or Absent	Up	Up	Flat	-40.66%
May 16	B	Weak or Absent	Up	Up	Flat	-40.66%
May 15	C	Weak or Absent	Up	Up	Flat	-40.27%
May 14	B	Weak or Absent	Up	Up	Down	-40.00%
May 13	B	Weak or Absent	Up	Up	Flat	-40.00%
May 10	B	Weak or Absent	Up	Up	Up	-42.55%