SOURCE: Gold Resource Corporation

Gold Resource Corporation

January 25, 2010 14:43 ET

Gold Resource Corporation El Aguila Mill Startup

DENVER, CO--(Marketwire - January 25, 2010) - Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) is pleased to announce the Aguila mill initial flotation circuit is now mechanically operable. Low grade ore has been fed through the circuit on a start/stop basis at its El Aguila Project Mill, located in Oaxaca, Mexico.

William W. Reid, President of Gold Resource Corporation, stated, "We are proceeding to achieve the normal steps in any mill startup and we are pleased how it is progressing. The important milestone of having all the mechanical and electrical aspects operating has now been accomplished. The next step, which is currently underway, is balancing the flow through the plant. Once this step is behind us we then will be in the position to start generating concentrates followed by optimizing the plant production. We are zeroing in on production of our first concentrates."

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 five potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The company has 48,050,284 shares outstanding and no warrants. For more information, please visit GRC's website, located at and read the Company's 10-K 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-K filed with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Jason Reid
    VP / Corporate Development