Printer Friendly

Gold Resource Corporation Approved for Trading on OTC-BB.

DENVER, Sept. 14 /PRNewswire-FirstCall/ -- Gold Resource Corporation ("GRC") announced that its common stock commenced trading this morning on the OTC-Bulletin Board under the symbol GORO. The company recently raised $4.6 million in a self-underwritten initial public offering of 4.6 million shares.

GRC is a production-oriented mining company exploring three potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The company's management team, which previously initiated six producing mines under a prior company they founded and ran for 28 years, is positioning GRC to become a low-cost producer of gold and silver.

"We are very pleased with the caliber of investors that have helped fund our company," said William W. Reid, GRC's president. "Worldwide investors include Gold 2000, one of the largest gold funds in Europe; Heemskirk Consolidated Ltd, a global mining investment firm headquartered in Australia, and several London-based gold funds. These investments are testaments to GRC's exciting high-grade gold and silver properties in Oaxaca, as well as our long-range plans for the company."

GRC's flagship El Aguila gold and silver property is distinguished by many high-grade surface samples collected over an 8-kilometer long structural zone in which gold samples were as high as 35 grams per ton (g/t) (1.0 ounce/ton) and silver samples were as high as 3,170 g/t (92 ounces/ton). Test drilling has resulted in numerous high-grade intercepts, including the highest valued intercept of 2 meters of 101 g/t (2.95 ounces/ton) of gold and 1,040 g/t (30 ounces/ton) of silver. An early independent Scoping Study estimated cash costs at approximately $100/ounce gold from a potential high-grade open pit mine with an estimated grade of 7.45 g/t (0.21 ounces/ton) gold and 63 g/t (1.84 ounces/ton) silver.

GRC's El Aguila Project is on an accelerated exploration program aimed at making a positive production decision in the first quarter of 2007.

For more information, please visit GRC's website, located at

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 "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 GRC's strategy, future production, future expenses and future liquidity and capital resources. All forward-looking statements in this press release are based upon information available to GRC on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. The Company's actual results could differ materially from those discussed in this press release. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company's Form SB-2 filed with the Securities and Exchange Commission.

CONTACT: William W. Reid, President, Gold Resource Corporation, +1-303-320-7708; or Geoff High, Pfeiffer High Investor Relations, +1-303-393-7044

Web site:
COPYRIGHT 2006 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 14, 2006
Previous Article:Royal Dutch Shell plc: Director/PDMR Shareholding.
Next Article:Medic Exchange Appoints Adam Boyse Chief Executive Officer.

Related Articles
Canyon Resources Elects to Convert El Aguila (Mexico) Project Financing Into Shares of Holding Company.
Westside Energy Stock Becomes Eligible for Trading as Ticker WEGC on the OTC Bulletin Board.
Luna Gold Corp. - Re-domestication to Canada.
Northern bounty: Ken Kammal of BASE Investment Management says companies in Canada are expanding.
Geneva Gold Corp. Changes Its Name to Geneva Resources, Inc. and Begins Trading Under the Symbol GVRS - OTC BB.
Evolving Gold Corp Lists on the TSX Venture Exchange.
Michael Baybak and Company, Inc. retained for investor relations services.
ClearPoint Announces Quotation on the OTC Bulletin Board Following Receipt of NASDAQ Delisting Letter.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters