SOURCE: Gold Resource Corporation

Gold Resource Corporation

April 14, 2010 19:27 ET

Gold Resource Corporation Ships First Concentrates; Updates Aguila Mill Commissioning

DENVER, CO--(Marketwire - April 14, 2010) -  Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) is pleased to announce shipment of the first concentrates for sale from its El Aguila Project. The Company's El Aguila Project is located in Oaxaca, Mexico.

Gold Resource Corporation's first shipment of concentrates has now been made and sold under contract to Consorcio Minero de Mexico Cormin Mex, S.A. de C.V. (a Trafigura Group Company) who will take delivery at a Mexican port for ultimate shipment to a smelter. Trafigura is the second largest buyer of concentrates in the world.

William W. Reid, President of Gold Resource Corporation, stated, "This is an important milestone in the progress of the El Aguila Project. It has taken essentially two months to get the mill running consistently from a mechanical point of view. With the mechanical aspects now behind us, our focus has shifted to the last part of commissioning, optimizing the mill operationally and metallurgically. We have not yet achieved designed throughput nor designed recovery so we are still running low grade ore until these final parameters are achieved. It may take several more weeks to optimize the grinding and flotation circuits and achieve the level of training and operator experience necessary before commercial production can be declared. We are very pleased with the commitment and accomplishments of our people as they work through these important steps."

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 48,700,284 shares outstanding and no warrants. For more information, please visit GRC's website, located at www.Goldresourcecorp.com 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 303-320-7708