SOURCE: Gold Resource Corporation

Gold Resource Corporation

August 12, 2009 20:57 ET

Gold Resource Corporation Receives Federal Open Pit Permit to Mine at Its El Aguila Project

DENVER, CO--(Marketwire - August 12, 2009) - Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) is pleased to report that it has been granted the Mexican Federal permit to mine the Aguila Project's open pit deposit in the southern state of Oaxaca, Mexico. GRC targets production at its El Aguila Project in 2009, subject to equipment delivery and construction schedules.

On August 12, 2009, the United States of Mexico's Secretary of the Environment and Natural Resources (SEMARNAT) granted GRC's 100% owned Mexican subsidiary, Golden Trump Resources, S.A. de C.V., federal permission to mine at its El Aguila open pit deposit.

Gold Resource Corporation's president, William W. Reid, stated, "We are very pleased to now have obtained the four federal permits necessary for the legal right to mine at our El Aguila Project. These four permits are a milestone in the progress of the company as we move toward becoming a 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 46,095,489 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