SOURCE: Gold Resource Corporation

Gold Resource Corporation

October 20, 2014 17:25 ET

Gold Resource Corporation Appoints Oscar Zelaya as El Aguila Project General Manager

COLORADO SPRINGS, CO--(Marketwired - Oct 20, 2014) - Gold Resource Corporation (NYSE MKT: GORO) (the "Company") announces the appointment of Mr. Oscar Zelaya as General Manager of its El Aguila Project, succeeding Mr. Jesus Rivera who will pursue other interests. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $100 million to shareholders in monthly dividends since commercial production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Mr. Zelaya has over twenty-nine years of industry experience and joins Gold Resource Corporation most recently from Endeavour Silver Corporation, where he served as General Manager. Prior to joining Endeavour, Mr. Zelaya served as Nyrstar's Peruvian Country and General Manager, where he was responsible for the Coricancha and Contonga operations as well as the Pucarrajo Project. Mr. Zelaya has also served as General Manager for Nyrstar's Campo Morado in Mexico. Additional experience includes various positions with Farallon Minera Mexicana S.A. de C.V., Empresa Minera Manquiri S.A. (Bolivia- Coeur d'Alene Corp), Empresa Minera Inti Raymi S.A., (Bolivia - Newmont Mining Corporation) and Battle Mountain Gold Corporation (Bolivia). Mr. Zelaya is a Metallurgical Engineer from the University of Duisburg, Federal Republic of Germany and holds an MBA from the University of Niederrhein, Federal Republic of Germany.

"We are pleased to welcome Mr. Zelaya as the Aguila Project's new General Manager," stated Gold Resource Corporation's CEO and President, Mr. Jason Reid. "We believe his extensive industry and managerial experience, having served as a General Manager for numerous Latin American projects, is well suited for our Aguila Project operations. I would also like to thank Mr. Rivera for his accomplishments and service and wish him well in his future endeavors."

The Company's Chief Operating Officer Mr. Rick Irvine will act as interim General Manager until November 4, 2014 when Mr. Zelaya is scheduled to join the team at the mine.

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 six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 54,179,369 shares outstanding and no warrants. Gold Resource Corporation offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery. 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.

Cautionary Statements:
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 production will continue at any specific rate. 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 SEC.

Contact Information