DENVER, CO -- 05/13/08 --
Gold Resource Corporation (GRC) (OTCBB: GORO)
(FRANKFURT: GIH) is pleased to report Mr. Reynaldo Jimenez Salazar has
accepted the position of Project Manager for GRC's El Aguila Project in the
southern state of Oaxaca, Mexico. The El Aguila Project is targeting gold
production in 2008 subject to timely obtaining the balance of the required
permits, regulatory approvals and equipment delivery schedules.
Mr. Salazar is a Mining Engineer with over 23 years of industry experience
including positions of Superintendent of Engineering, Planning and
Construction and Manager of Mining for both open pit and underground
operations. Mr. Salazar joins GRC from Goldcorp, and he has previous
experience with Industrias Penoles, one of Mexico's largest mining
companies. He graduated in 1985 from the University of Guanajuato with a
degree in Mining Engineering.
Gold Resource Corporation's president, William W. Reid, stated, "We are
very pleased to welcome Mr. Reynaldo Jimenez Salazar as Project Manager for
our El Aguila Project. His years of industry experience working for some
of the best Mexican mining companies are well suited to assist GRC as an
emerging gold producer. The mining industry's workforce is a competitive
environment and we are pleased to have such an experienced professional
join Gold Resource Corporation. We believe Mr. Salazar's joining Gold
Resource as a key member of our management team speaks well of the
potential of GRC's flagship El Aguila Project."
About GRC
Gold Resource Corporation is a mining company focused on production and
pursuing development of gold and silver projects that feature low operating
costs and produce high returns on capital. The Company has 100% interest
in four potential high-grade gold and silver properties in Mexico's
southern state of Oaxaca. The company has 34,206,952 shares outstanding
and no warrants. For more information, please visit GRC's website, located
at www.Goldresourcecorp.com and read the Company's 10-K for an
understanding of the risk factors involved.
This press release contains forward-looking statements that involve risks
and uncertainties. The statements contained in this press release that are
not purely historical are forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Exchange Act. When
used in this press release, the words "plan," "target," "anticipate,"
"believe," "estimate," "intend" and "expect" and similar expressions are
intended to identify such forward-looking statements. Such forward-looking
statements include, without limitation, the statements regarding Gold
Resource Corporation's strategy, future plans for production, future
expenses and costs, future liquidity and capital resources, and estimates
of mineralized material. All forward-looking statements in this press
release are based upon information available to Gold Resource Corporation
on the date of this press release, and the company assumes no obligation to
update any such forward-looking statements. Forward-looking statements
involve a number of risks and uncertainties, and there can be no assurance
that such statements will prove to be accurate. The Company's actual
results could differ materially from those discussed in this press release.
In particular, there can be no assurance that commercial production at the
El Aguila Project will be achieved in the time frames estimated, at the
rates and costs estimated, or even at all. Factors that could cause or
contribute to such differences include, but are not limited to, those
discussed in the company's 10-K and Form SB-2 filed with the Securities and
Exchange Commission
Contact:
Jason Reid
VP / Corporate Development
303-320-7708
