Day: October 17, 2016

Gold Resource Corporation reports preliminary production results for the third quarter ended September 30, 2016 of approximately 6,066 ounces of gold, 431,335 ounces of silver and significant base metals. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

“I am very pleased to see significant benefits from the operational improvement program at the Yauricocha Mine continuing to have a strong impact on operational results.” commented Mark Brennan, President and CEO of Sierra Metals. “We anticipate improved consolidated results quarter over quarter in the current year.”

We are pleased to report another quarter of consistent production from our operations in Mexico. With higher projected production in the fourth quarter, we are on pace to meet our internal annual budgeted production targets, despite the challenges faced in the second quarter. Although our overall output was down slightly this quarter, we are encouraged that the decrease was mainly the result of lower recoveries at the Avino Mine where mining activities took place in a new zone. Moving forward, we expect recoveries to improve as we optimize the plant for material from this new zone. Advancing our underground operations into new areas is fundamental to our goal of expanding both mining and processing operations. Further to this goal, we have commenced exploration drilling in the gap zone between ET and San Luis located within the Avino mine which we expect could significantly add to our current resource block at the Avino Mine.
-David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.