SOURCE: Gold Resource Corporation

January 14, 2008 06:10 ET

Gold Resource Corporation Drills 1M of 27.70 G/T Gold and 1235 G/T Silver Within 3M of 21.99 G/T (0.71 Oz/Tonne) Gold Equivalent at La Arista

DENVER, CO--(Marketwire - January 14, 2008) - Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) is pleased to announce additional high grade intercepts with deeper drilling at its La Arista deposit. The La Arista deposit is part of GRC's El Aguila Project in the southern state of Oaxaca, Mexico. The El Aguila Project is targeting gold production the second half of 2008 subject to timely obtaining required permits, regulatory approvals and equipment delivery schedules.

Recent drill highlights include:

Hole 7088 (-56 deg)
    
--  1 meter of 27.70 g/t gold, 1235 g/t silver, 0.63% copper, 0.20% lead,
    0.42% zinc, (or a gold equivalent* value of 57.17 g/t (1.84 oz/tonne))
    within,
    
--  3 meters of 10.02 g/t gold, 476 g/t silver, 0.42 % copper, 0.08% lead,
    0.17% zinc, (or a gold equivalent* value of 21.99 g/t (0.71 oz/tonne))
    
--  1 meter of 18.80 g/t gold, 37 g/t silver, 0.53% copper, 2.33% lead,
    3.18% zinc, (or a gold equivalent* value of 28.80 g/t (0.93 oz/tonne))
    within,
    
--  2 meters of 11.99 g/t gold, 89 g/t silver, 0.42% copper, 1.24% lead,
    1.79% zinc, (or a gold equivalent* value of 19.40 g/t (0.62 oz/tonne))
    
Hole 7284 (-60 deg)
    
--  1 meter of 4.97 g/t gold, 695 g/t silver, 0.24 % copper, 0.53 % lead,
    0.95 % zinc, (or a gold equivalent* value of 22.68 g/t (0.73 oz/tonne))
Gold Resource Corporation's president, William W. Reid, stated, "Drilling at La Arista has demonstrated that we have three, parallel, high-grade veins. With Hole 7088, we have intercepted the deepest high-grade La Arista mineralization at 250 meters below the surface. The intercepts from two of these veins appear to have increasing gold values with depth while the third vein contains high-grade silver, such as the 4 meters of 2955 g/t silver reported earlier, all which bode well for this robust, epithermal system. We are also fortunate to have high percentages of base metals, with 95% or greater recoverability, which could potentially be used as credits against costs of producing the gold and silver, adding greater value to the La Arista deposit."

Drill results include:

Hole   Angle  From   Interval Au     Ag      Cu    Pb    Zn    AuEq    AuEq
   #  (deg)   Meters Meters   g/t    g/t     %     %     %     g/t      oz/
                                                                      tonne
---------------------------------------------------------------------------
7088   -56     217     1      27.70  1235.0  0.63  0.20  0.42  57.17   1.84
7088   -56     218     1      1.27   105.0   0.31  0.02  0.04   4.63   0.15
7088   -56     219     1      1.09   88.3    0.34  0.02  0.05   4.17   0.13
Average        217     3      10.02  476.1   0.42  0.08  0.17  21.99   0.71
---------------------------------------------------------------------------
7088   -56     312     1      5.18   142.0   0.32  0.15  0.41  10.00   0.32
7088   -56     313     1      18.80  37.6    0.53  2.33  3.18  28.80   0.93
Average        312     2      11.99  89.8    0.42  1.24  1.79  19.40   0.62
---------------------------------------------------------------------------
7284   -60     76      1      1.23   170.0   0.04  0.05  0.12   5.26   0.17
7284   -60     77      1      4.97   695.0   0.24  0.53  0.95  22.68   0.73

*(Gold Equivalent (AuEq) using gold at $650/oz, silver at $14/oz, copper at
$3.10/lb, lead at $1.40/lb, zinc at $1.20/lb)

Assays by ALS Chemex, Vancouver, BC Canada
Gold Resource Corporation's current drill program is focusing on the La Arista high-grade veins in order to define and extend this mineralization. All the veins are open in strike and depth.

About GRC

Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in four potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The company has 33,728,052 shares outstanding and no warrants. For more information, please visit GRC's website, located at www.Goldresourcecorp.com and read the Company's 10-KSB for an understanding of the risk factors involved.

This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words "plan," "target," "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that commercial production at the El Aguila Project will be achieved in the time frames estimated, at the rates and costs estimated, or even at all. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company's 10-KSB and Form SB-2 filed with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Jason Reid
    VP / Corporate Development
    303-320-7708