Gold Reserve has announced the establishment of American Heralds Mining Corporation, a new entity based in the US aimed at advancing resource development in the Western Hemisphere.
This move supports the US’ focus on securing reliable supply chains for critical minerals.
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The company is considering a spin-out initiative, whereby its Venezuelan mining interests, including the Siembra Minera project and its Alaskan property, will be transferred to American Heralds.
Gold Reserve shareholders will receive shares in the new company.
American Heralds is expected to have its headquarters in Miami, Florida, in close proximity to US-based Venezuelan management, federal regulatory bodies and the professional services needed to advance the mining platform.
The specifics of the spin-out are being evaluated by the company’s advisors and board of directors, with necessary approvals, including from shareholders, still required.
The company emphasises the need to retain assets within a US-aligned framework.
American Heralds is set up to ensure a stable development path for mineral resources that are critical to national security.
The company’s existing rights, technical expertise and operational capacity enable swift alignment with US strategic goals and supply chain resilience.
Once the spin-out is finalised, the company plans to pursue a US initial public offering and stock exchange listing for American Heralds, aligning with the administration’s focus on enhancing US industrial capacity and strategic resource governance.
After the spin-out, the company will become an investment holding entity, retaining a minority stake in American Heralds.
It will continue efforts to recover its Arbitral Award, including proceedings in Delaware and Portugal.
To differentiate itself from American Heralds, management plans to rename Gold Reserve Hamilton American Holdings, pending advisor, board and shareholder approval.
The company intends to distribute a proxy and information circular about the spin-out and name change, targeting the third quarter of 2026 for completion.
Gold Reserve vice-chair Paul Rivett said: “American Heralds represents the launch of a new US-based mining company focused on Western Hemisphere opportunities and the development of resilient supply chains.
“The opportunity to return to Venezuela and participate in the country’s economic revitalisation reflects the cooperation between President Trump’s administration and President Rodríguez, which has created a constructive environment for US-aligned operators.”
