Gold Resource (GORO) Prelim. Q1 Production at 22,300 Ounces

April 16, 2013 4:50 PM EDT
Gold Resource Corporation (AMEX: GORO) reported its preliminary production results for the first quarter ended March 31, 2013 of approximately 22,300 ounces precious metal gold equivalent ("AuEq", calculated at actual sales price ratio of 54:1).

The Company produced approximately 22,300 ounces AuEq during the first quarter of 2013 and maintains its Outlook for the full year at 80,000–100,000 ounces AuEq. Arista underground mine development has reached level 14. The 2013 mill expansion to a nominal 1,500 tonnes per day progressed during the first quarter. The concrete foundation for the new ball mill is complete, foundations for the new thickener surge tanks are effectively complete and the new flotation cells have been ordered.

Gold Resource Corporation's President, Jason Reid, stated, "We are pleased with production results which were in line with our targets. Mine development advanced well, exploration during the quarter further defined new mineralized areas outside of the Baja/Arista veins in the Arista Deposit, including Splay #5, and the Company acquired new prospective land concessions, further consolidating our North 70 West mineralized structural corridor."

Full financial results for the first quarter will be available at the time the Company files its quarterly report on Form 10-Q with the Securities and Exchange Commission.

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