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Gold Resource Corp extends footprint near El Aguila Gold Mine, Mexico

Published: 03:37 26 Aug 2009 AEST

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Gold Resource Corporation (OTCBB: GORO, FRANKFURT: GIH) a strategic move to extend its position near the company’s flagship asset – the El Aguila Gold Mine in the state of Oaxaca, southern Mexico.

One can hardly blame Gold Resource Corp for taking the opportunity to stake more ground considering the huge success the company has enjoyed to date.

The additional concessions extend the company’s position in the San Jose structural corridor to more than 16 kilometers.

Bill Reid, President of Gold Resource Corporation stated, “The opportunity to add an additional property to the Company’s land holdings is very exciting on many levels. The Alta Gracia property is adjacent to our Las Margaritas property, extends our total mineralized corridor to over 16 kilometers and adds additional production potential to our El Aguila mill as trucking high-grade ore would not be a problem. This fits the company’s long term plan of multiple mines feeding the strategically located El Aguila mill. We believe this approach will add longevity to our operations while keeping capital expenditures to a minimum as we develop these additional properties. “

Mr. Reid continued, “The district was mined historically on a small scale as recently as the 1970’s and we recognized many similarities of Alta Gracia to our current focus area of La Arista at our El Aguila Project. One of our surface samples assayed in excess of 1.4 kilos per tonne of silver. The Alta Gracia property joins the Company’s property portfolio consisting of its El Aguila Project, Las Margaritas property, El Rey property and the Solaga property. We intend to be a long term gold and silver producer and the addition of Alta Gracia adds tremendous potential to our exciting exploration program in the state of Oaxaca.”

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