SOURCE: Gold Resource Corporation

August 13, 2008 16:29 ET

Gold Resource Corporation Hires Project Manager for Its El Aguila Project

DENVER, CO--(Marketwire - August 13, 2008) - Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) is pleased to report Mr. Jorge Luis Sanchez Del Toro has accepted the position of Project Manager for GRC's El Aguila Project in the southern state of Oaxaca, Mexico.

Mr. Sanchez is a Mining Engineer with over 33 years of industry experience including varying positions such as Superintendent of Engineering, Project Planning, Production Operations and Manager of Mining for both open pit and underground operations with various companies in Mexico such as Grupo Tribasa, Grupo Catorce and Minera Autlan. Mr. Sanchez joins GRC from Ingenieria Y Trituracacion, which consults for both private and public companies in open pit and underground mining operations, where he was General Manager. He graduated in 1975 from the University Autonoma of Mexico with a degree in Mining Engineering.

Gold Resource Corporation's president, William W. Reid, stated, "We are very pleased to welcome Mr. Jorge Luis Sanchez as Project Manager for our El Aguila Project. His years of industry experience managing mining projects, with specialties in underground mining, especially sublevel stoping, and his experience overseeing milling operations and labor relations are all well suited to assist GRC in the start-up and operation of our El Aguila Project. As a key member of the management team, Mr. Sanchez's 33 years of industry experience and professionalism is a tremendous asset to Gold Resource Corporation. Mr. Sanchez is currently on site heading up the Aguila Project."

Gold Resource Corporation's flagship El Aguila Project is currently under construction as the company positions itself as an emerging low cost gold producer.

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 34,231,952 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 and Form SB-2 filed with the Securities and Exchange Commission

Contact Information

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