[GRC] NEWS RELEASE
April 9, 2012
NYSE Amex: GORO
GOLD RESOURCE CORPORATION FIRST QUARTER PRODUCTION SETS RECORD WITH 53% INCREASE
COLORADO SPRINGS - April 9, 2012 - Gold Resource Corporation (NYSE Amex: GORO) announced its preliminary production results for the first quarter ended March 31, 2012 of approximately 30,500 ounces precious metal gold equivalent (AuEq). Production increased approximately 53% from the previous quarter, and 308% from first quarter of 2011, establishing new record production for the Company. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $43 million to shareholders in monthly dividends since declaring commercial production July 1, 2010 and now offers shareholders the option to convert their cash dividends into physical gold or silver.
Gold Resource Corporation's first quarter production is in line with its 2012 Outlook, which is targeting annual production of 120,000 to 140,000 ounces AuEq. First quarter production was achieved with an 825 tonnes per day average throughput. Contributing to these record production levels included increased long-hole stoping.
"We are pleased with the record production increase and will release the full financial results for the first quarter at the time we file our quarterly report on Form 10-Q with the Securities and Exchange Commission." stated Gold Resource Corporation's President, Mr. Jason Reid. "The El Aguila Project and the hard work of its team members continue to impress management each month. First quarter record production sets a firm base from which to continue our growth trajectory of producing more low cost ounces."
To view the entire press release click on or cut and paste the following link to your web browser: http://www.goldresourcecorp.com/releases/GRC-2012-04-09-1.pdf
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