Day: March 8, 2018

“We are very pleased to release the December 31, 2017 reserve report showing significant increases to reserve tonnes,” stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation. “Much of the 2017 reserve ore tonnage and base metal increases came from deep in the Switchback vein system in the same areas as the deepest mine development levels to date. We estimate this area to have lower precious metal grades and higher base metal grades relative to higher elevations in this epithermal vein system…..”

Neil Woodyer, CEO, stated “We are extremely pleased with the 59% increase in P&P reserves at Los Filos, which reflects the success of our 2017 programs focused on extending mine life.Furthermore, this growth we are reporting today excludes any additional contribution from the Bermejal Underground expansion project, which has M&I resources of 2.1 Moz of gold (see Table 3) at a grade of 5.96 g/t, as reported as of December 31, 2017.The Bermejal Underground expansion is currently in the mine design phase in preparation for declaration of reserves in mid-2018. With the exploration success during 2017 and the reassessment of Los Filos’ long-term potential, studies are underway to evaluate building a carbon-in-leach processing plant, enabling higher recoveries for a wider range of ore types.”