CORRECTED PRESS RELEASE - Gold Resource Reports Preliminary Q3 Production Results Including Record Gold Production and 51% Nevada Gold Production Increase

COLORADO SPRINGS, CO, Oct. 15, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- This press release corrects the first sentence on the prior version published on October 14, 2020.  The term “record” gold production is now correctly applied to the Nevada Mining Unit’s record quarterly gold production, and the word “consolidated” is now positioned correctly in front of total production results.  All information, production numbers and statistics remain the same.  The full text of the revised press release is below:

Gold Resource Corporation (NYSE American: GORO) (the “Company”) reports preliminary record Nevada gold production results for the third quarter ended September 30, 2020, which contributed to consolidated production of 12,575 gold ounces, 333,761 silver ounces and significant base metals.  Nevada gold production increased by 51% as the production ramp up phase continues.  Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.  The Company has returned $115 million 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. 

Preliminary record third quarter production from the Company’s Nevada Mining Unit totaled 7,847 gold ounces, a gold production increase of 51% over the prior quarter.  Through the first three quarters of 2020, the Company’s Nevada Mining Unit’s preliminary production numbers total 16,747 gold ounces.  The third quarter was the first full quarter that the Company was able to regularly access portions of the deposit’s high-grade “Pearl” zone, while also mining the deposit’s lower grade “Isabella” zone.  The Pearl zone is estimated to contain 80% of the gold ounces at the Isabella Pearl deposit with an estimated average gold grade of 4.0 grams per tonne.  Gold Resource Corporation remains on track with ramp up into the fourth quarter, positioning the Company to achieve its annual production target of 40,000 gold ounces in 2021. 

Preliminary third quarter production from the Company’s Oaxaca Mining Unit totaled 4,728 gold ounces, 324,592 silver ounces, 428 copper tonnes, 2,157 lead tonnes and 5,538 zinc tonnes, which represents increases of 94%, 75%, 74%, 89% and 84%, respectively, for each metal over the prior quarter.  Through the first three quarters of 2020, the Company’s Oaxaca Mining Unit’s preliminary production numbers total 13,619 gold ounces, 912,464 silver ounces, 1,162 copper tonnes, 5,811 lead tonnes and 14,386 zinc tonnes.