SOURCE: Gold Resource Corporation

Gold Resource Corporation

August 31, 2010 05:00 ET

Gold Resource Corporation Declares Second Special Cash Dividend

DENVER, CO--(Marketwire - August 31, 2010) -  Gold Resource Corporation (GRC) (NYSE Amex: GORO) is pleased to announce it has declared its second 2010 Special Cash Dividend of $0.03 per common share to its shareholders of record September 17th, payable September 29th, 2010. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.

Gold Resource Corporation commenced Commercial Production July 1, 2010 from its El Aguila Project's operations in the southern state of Oaxaca, Mexico. The Company continues to be pleased with the Project's performance and by using cash flow generated from operations the Board of Directors declared another Special Cash Dividend increasing the year to date dividend payment to $0.06.

Gold Resource Corporation's President, Mr. Jason Reid stated, "We are pleased to announce our second special cash dividend in as many months and remain committed to returning approximately one third cash flow back to the owners of the Company, its shareholders. We are also pleased to now be listed on the NYSE Amex."

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 49,380,404 shares outstanding, no warrants and no debt. 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 production will continue at any specific rate. In full disclosure, this initial dividend should not be considered a guarantee of future dividends. Potential special dividends may vary in amount and consistency or be discontinued at management's discretion depending on variables including but not limited to operational cash flows, Company development requirements and strategies, spot gold and silver prices, taxation policies and general market conditions. 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:
    Greg Patterson
    Corporate Development
    303-320-7708