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Gold Resource Corp. Expands Mirador Mine With Intercepts Including 3.72 m Grading 1.44 g/t Gold and 990 g/t Silver

11.12.2019  |  GlobeNewswire
COLORADO SPRINGS, Dec. 11, 2019 - Gold Resource Corp. (NYSE American: GORO) (the “Company”) today announced the expansion of its Mirador Mine with fifteen (15) exploration drill hole results from its 2019 Alta Gracia projects drill program located at its Oaxaca Mining Unit, Mexico. Highlights include 3.72 meters grading 1.44 grams per tonne (g/t) gold and 990 g/t silver, including 1.00 meter grading 2.84 g/t gold and 2,610 g/t silver in a step down hole to known mineralization. Gold Resource Corp. is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $112 million to its shareholders in monthly dividends since commercial production commenced July 1, 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

The Alta Gracia Project, which hosts the Mirador Mine, is located approximately sixteen (16) kilometers north west of the Company’s Aguila Project and mineral processing plant. High-grade Mirador ore is trucked to the Aguila mill for processing. The 2019 Alta Gracia drill campaign tested several step-out and in-fill target areas focused primarily on the Mirador mine’s Independencia West vein. In March 2019 the Company announced Mirador mine development crosscut six meters of the Independencia vein which graded 992 g/t silver. The goal of this latest drill campaign was to test the extensions of this high-grade ore shoot (see map below).

Recent highlights from the 2019 Alta Gracia surface drill campaign include the following intercepts (m = meters, g/t = grams per tonne) (see full tables below):

Hole # 419003 – Independencia West Vein (in-fill)
9.21m of 0.24 g/t gold, 260 g/t silver
incl. 3.20m of 0.31 g/t gold, 335 g/t silver
incl. 0.73m of 0.58 g/t gold, 1,085 g/t silver

Hole # 419007 – Unnamed veins & Independencia West Vein (in-fill)
0.30m of 1.21 g/t gold, 181 g/t silver (vein)
1.38m of 4.39 g/t gold, 1,455 g/t silver (vein)
1.08m of 1.81 g/t gold, 2,190 g/t silver (Independencia West vein)

Hole # 419010 – Independencia West Vein (step-out)
5.99m of 1.04 g/t gold, 206 g/t silver
incl. 1.54m of 2.02 g/t gold, 590 g/t silver

Hole # 419012 – Independencia Vein (step-down)
3.72m of 1.44 g/t gold, 910 g/t silver
incl. 1.00m of 2.84 g/t gold, 2,610 g/t silver

Hole # 419015 – Independencia Vein (in-fill)
2.67m of 1.10 g/t gold, 354 g/t silver
incl. 0.78m of 0.72 g/t gold, 879 g/t silver

Seven exploration drill holes targeted the expansion of the Independencia West vein. Three of these drill holes expanded the mineralization laterally, three drill holes expanded the mineralization deeper, and one drill hole extended the mineralization higher. Eight drill holes focused on in-fill drilling within the Independencia West vein ore-shoot with the goal of upgrading mineralized material into the proven and probable category. While the Independencia West vein was the primary target, nearly every drill hole intercepted multiple, parallel veins.

ALTA GRACIA MIRADOR MINE – INDEPENDENCIA WEST VEIN
2019 DRILL RESULTS SUMMARY
Hole # Angle Vein From Interval Au Ag Direction
deg Meters Meters g/t g/t
419001 -19 Independencia West 125.34 0.69 0.35 662 Step-out
incl. 125.34 0.31 0.60 1,190
419002 -20 Independencia West 119.88 0.83 0.15 87 In-fill
Vein 135.92 0.31 1.27 284
419003 12.5 San Juan NW2 62.03 0.38 0.43 185 In-fill
Vein 73.14 0.96 0.16 82
San Juan NW1 79.52 0.88 0.49 280
Vein 149.47 0.75 0.07 96
Independencia West 173.92 9.21 0.24 260
incl. 173.92 3.20 0.31 335
incl. 182.40 0.73 0.58 1,085
419004 10 San Juan NW6 2.34 0.62 0.20 71 In-fill
Vein 27.40 0.28 0.75 596
Vein 112.35 1.25 0.16 205
Independencia West 154.54 1.53 0.09 181
incl. 154.99 1.08 0.10 207
419005 10.2 San Juan NW5 26.36 1.13 0.57 287 In-fill
incl. 26.36 0.34 1.37 641
Vein 49.30 0.41 0.46 484
San Juan NW2 50.32 0.31 0.17 119
419006 11.5 Vein 28.53 0.32 0.16 83 In-fill
Vein 31.69 0.31 0.41 336
Independencia West 139.22 1.92 0.12 182
incl. 140.20 0.94 0.15 269
419007 -24 Vein 16.65 0.30 1.21 181 In-fill
Vein 111.62 1.38 4.39 1,455
Independencia West 118.70 1.08 1.81 2,190
419009 -21 San Juan NW1 61.21 0.71 0.99 172 In-fill
incl. 61.21 0.32 1.83 329
San Juan NW2 79.49 0.25 0.44 974
Vein 111.68 0.30 0.54 211
Independencia West 123.83 3.17 1.46 122
incl. 123.83 1.17 3.74 257
419010 -32 Vein 34.41 1.33 0.28 77 Step-out
incl. 35.24 0.50 0.30 137
Independencia West 129.82 5.99 1.04 206
incl. 129.82 1.54 2.02 590
419011 -12.5 Vein 29.09 0.33 0.32 132 Step-out
Vein 42.73 0.56 0.50 120
419012 -37 Vein 20.26 0.31 0.71 171 Step-down
Vein 37.80 0.30 0.64 122
Vein 40.99 1.01 0.29 261
incl. 40.99 0.29 0.91 785
Independencia West 119.28 3.72 1.44 910
incl. 120.06 1.00 2.84 2,610
Vein 125.70 0.83 0.61 97
Vein 129.17 1.49 0.32 124
Vein 132.00 1.00 1.24 37
419013 -23.5 San Juan NW5 44.69 1.01 0.17 115 Step-down
San Juan NW1 128.57 0.58 0.21 245
Vein 163.23 0.34 0.13 174
Vein 167.20 1.27 0.21 161
incl. 168.10 0.37 0.56 443
Vein 181.15 0.32 0.26 309
Vein 185.58 0.48 0.13 171
Independencia West 193.24 1.70 0.19 388
incl. 193.24 0.66 0.31 694
Vein 214.25 1.08 0.11 142
419014 -52.3 Vein 29.53 1.47 1.72 182 Step-down
incl. 30.50 0.50 4.43 463
Vein 181.83 0.34 0.63 190
419015 -44.5 San Juan NW2 45.84 0.31 0.45 215 In-fill
Vein 46.96 1.39 0.42 98
Independencia West 154.92 2.67 1.10 354
incl. 154.92 0.78 0.72 879
419018 -18.5 Vein 72.47 0.65 0.80 102 Step-up
Vein 89.75 0.35 0.03 84
Independencia West 98.13 5.38 0.25 158
incl. 99.28 1.03 0.66 385
Assays by ALS, Vancouver, BC Canada. Meters downhole, not true width

Mr. Barry Devlin, Vice President of Exploration, commented, “Our 2019 drill campaign at Alta Gracia was successful in expanding the Independencia West high-grade ore shoot, as well as demonstrating continuity between prior drill holes. These results are expected to replace proven and probable reserves mined at the Mirador Mine during 2019.”

The Alta Gracia Project is one of six potential high-grade gold and silver properties in the Company’s Oaxaca Mining Unit, which includes over 551 square kilometers in southern Mexico. The Mirador Mine is the Company’s second operating underground mine, which began production in mid-2017. The Company has identified and modeled over 50 veins at the Alta Gracia Project at or near its Mirador Mine.

About GRC:

Gold Resource Corp. is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company targets low capital expenditure projects with potential for generating high returns on capital. The Company has returned $112 million back to its shareholders in consecutive monthly dividends since July 2010 and offers its 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 Corp.’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 Corp. 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.



Contacts:

Corporate Development
Greg Patterson
303-320-7708
www.goldresourcecorp.com

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