Step-Out Exploration Hole Intersects 17.3 Meters at 12.54 g/t Au/Eq

Gold Resource Corporation (NYSE American: GORO)  is pleased to announce the results of one of its recent step-out exploration drill holes from its 150-hole, 34,000-meter, 2023 drill program at Don David Gold Mine. Hole 523136 shows a width of 17.3 meters grading 12.54 g/t Au/Eq¹, which includes 9.4 g/t Au and 263 g/t Ag (15.0 m true width). The exceptional width and grade appears to occur at the confluence of two veins (Sandy 1 and Sandy 2) that are part of the Gloria and Three sisters vein arrays in the upper portion of the Mine, located approximately 250 meters below surface. The program has been testing this previously unexplored area of the deposit in order to discover and delineate potentially high-grade resources that are more easily accessible. To date, the results have been very encouraging and will be incorporated into a 2023 year-end resource estimate update, that will be released in Q1 2024.

“This result is one of the highest-grade and most consistently mineralized to date and continues to prove the significant potential of the developing new resources in the Gloria / Three Sisters vein system. In addition, these wider and higher grade veins are closer to the surface and will further improve their economic impact to our future mine plans,” stated Allen Palmiere, President and CEO of the Company.

Drilling continues to identify significant ore-shoots within the newly defined inferred resource shells of veins in the Gloria / Three Sisters vein system, where positive results and recent geologic interpretation have defined a robust mineralized horizon between approximately 650 and 750 m ASL, where the Gloria and Three Sisters veins merge. This horizon appears to be extending upwards, highlighted by the recent results from Hole No. 523136, intersected at an elevation of 762 m ASL. The Gloria / Three Sisters vein system continues to remain open in all directions.

Year-to-date, more than 150 drill holes and 34,000 meters of core have been drilled as part of the 2023 underground drill program at the Arista mine. The program continues to successfully advance our exploration objectives of identifying new mineralization and defining and upgrading additional mineral resources. All new drill results are in the process of being incorporated into a 2023 year-end estimate update due for release in Q1 2024.

Note: Assays are by ALS, Vancouver, BC, Canada. The Company conducts a significant QA/QC program which includes the insertion of certified assay standards, blanks, and duplicates in the sample stream to ensure the assay lab results are within specified performance levels.

About GRC:

Gold Resource Corporation is a gold and silver producer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico and its Back Forty gold-copper development Project in Michigan, USA. Under the direction of an experienced board and senior leadership team, the Company’s focus is to unlock the significant exploration upside of its mine and surrounding large land package to the benefit of its existing infrastructure. For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, for an understanding of the risk factors associated with its business.

Perspective View of the Arista, Gloria, Three Sisters, and Switchback Vein Systems (looking north-west). (Graphic: Business Wire)

Drill Hole No. 523136 Assay Details – Sandy 1 and 2 Veins – Gloria / Three Sisters Vein System (Graphic: Business Wire)