Gold Resource Corporation Leases Nevada Radar Property From Altan Nevada Minerals Limited

COLORADO SPRINGS, CO--(Marketwired - Sep 10, 2014) - Gold Resource Corporation (NYSE MKT: GORO) (the Company) announced today it entered into a lease agreement with an option to buy the Radar gold property located in Nevada held by Altan Nevada Minerals Limited (TSX VENTURE: ANE) (Altan Nevada). Gold Resource Corporation is a low-cost gold and silver producer with operations in southern Mexico. The Company has returned over $100 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.  

The Radar project covers an area of approximately 3,550 acres in central Nevada in the Walker Lane Mineral Belt in Mineral and Nye Counties, Nevada. Radar is immediately adjacent to the former gold-silver-mercury past producing Paradise Peak Mine, near the Round Mountain and Rawhide Mines, which together have produced over 15 million ounces of gold over a thirty year period. Radar is also approximately 17 miles south of the Bruner Gold Project in which the Company is an 18% shareholder of Canamex Resources Corp. who holds an interest in Bruner.

The Radar lease includes 178 mining claims, requires annual lease payments, annual work commitments and a 3% net smelter return royalty (NSR) in favor of Altan Nevada on future production. At its discretion during the lease term, Gold Resource Corporation has the right to purchase a 100% interest in the Radar property's mining claims for $1,500,000. In addition, the Company has the option to buy down the NSR by 1% for $1,000,000 and has a first right of refusal on the remaining 2% NSR. 

"We believe the Radar Property provides excellent early stage gold exploration exposure in an historic and prolific gold producing belt," stated Gold Resource Corporation's CEO and President, Mr. Jason Reid. "With the Radar lease we are establishing our new Nevada Mining Unit, and we believe it will complement our producing Oaxaca Mining Unit in Mexico since both venues are located in mining friendly jurisdictions. We are pleased to have come to an agreement with Altan Nevada and look forward to exploring previously untested gold potential at Radar."