Gold Resource Corporation Announces Extinguishment of Exclusive Funding Arrangement With Hochschild Mining

Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) announced that it has reached 4,000 ounces gold produced within a 45 day period extinguishing the first right of funding in favor of Hochschild Mining. Gold Resource Corporation announced Commercial Production from its Aguila Project in southern Mexico on July 1, 2010.

The press release is quoted as saying:

Pursuant to the Strategic Alliance Agreement between GRC and Hochschild Mining of December of 2008, GRC has notified Hochschild Mining that at least 4,000 ounces of gold has been produced in the requisite 45 day period, therefore terminating Hochschild’s right to preferential funding at a discount. The period between June 3rd and July 14th produced approximately 4,390 ounces of gold. The Agreement still provides Hochschild with a right to participate in any future funding up to its prorated ownership interest in GRC.

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