Gold Resource Achieves Gold and Silver Production Targets

COLORADO SPRINGS, CO - Gold Resource Corporation reported preliminary 2017 year-end and fourth quarter mill production results.  The Company produced approximately 28,117 gold ounces and 1,773,263 silver ounces for the 2017 year, which met its annual gold and silver production target ranges.  Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada.

The Company’s 2017 annual production targets were 27,500 gold ounces and 1,850,000 silver ounces, plus or minus a 5% range.  Preliminary production results for 2017 of approximately 28,117 gold ounces and 1,773,263 silver ounces achieved the targeted range with gold reaching the upper end of the target.  Fourth quarter gold and silver production totaled approximately 9,209 ounces and 555,550 ounces, respectively.  Preliminary annual base metal production included approximately 1,141 tonnes of copper, 5,365 tonnes of lead and 16,301 tonnes of zinc.   

“Our Oaxaca Mining Unit’s operations team delivered another year of solid production results for 2017,” Gold Resource Corporation CEO and President, Jason Reid, stated.  “In addition to achieving annual precious metal production targets, the team successfully targeted and mined base metal rich areas of the Arista mine to take advantage of multi-year high base metal prices which generated substantial additional revenue for the year.  The team also executed on the development of the Arista Mine’s Switchback vein system, delivering on our goal to achieve over one year of Switchback mine development prior to commissioning bulk tonnage mining techniques.  With five levels now developed at Switchback, the Company expects to begin first stoping operations during the first quarter of 2018.” 

Reid continued, “2017 was also a successful year for the Company’s Nevada Mining Unit, where the Company acquired the highly prospective 5,500 acre East Camp Douglas exploration property, and added a significant number of additional claims to the Isabella Pearl Project, which now encompasses over 9,000 acres.  Our Nevada team continues to work hard pushing the Isabella Pearl Project’s permitting forward, with a goal of pouring first gold by the end of 2018 subject to receiving the requisite permits in the near future.”