Gold Resource Corporation Reports Second Quarter Net Income of $5.6 Million

Gold Resource Corporation (NYSE:GORO) (the “Company”) reported production results for the second quarter ended June 30, 2016 of 10,011 ounces of gold and 572,499 ounces of silver, which along with base metal revenue generated $26.2 million in net revenue for the quarter. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.
2016 Q2 HIGHLIGHTS

• 10,011 gold ounces produced
• 572,499 silver ounces produced
• $26.2 million net sales
• $317 total cash cost per gold equivalent ounce (after by-product credits)
• $15.5 million adjusted cash flow from mine site operations
• $9.8 million by-product credits, or $631 per ounce sold
• $0.3 million dividend distributions, or $0.005 per share for quarter

Overview of Q2 2016 Results
Gold Resource Corporation’s Aguila Project produced 17,706 gold equivalent ounces at a total cash cost of $317 per ounce (after by-product credits). Realized average metal price sales during the quarter were $1,271 per ounce gold and $17.08 per ounce silver. The Company recorded net income of $5.6 million, or $0.10 per share. Adjusted cash flow from mine site operations totaled $15.5 million. The Company paid $0.3 million to shareholders in dividends, or $0.005 per share during the quarter. Cash and cash equivalents at quarter end totaled $13.3 million. Realized gold and silver prices increased 6% and 2%, respectively, compared to the second quarter of 2015.
Production for the first half of 2016 included 16,474 ounces of gold and 1,006,640 ounces of silver. The Company maintains its 2016 Annual Outlook of 26,000 gold ounces, 1,900,000 silver ounces, 1,100 tonnes of copper, 3,200 tonnes of lead and 12,900 tonnes of zinc.
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