Gold Resource Corporation Reports 2013 Annual Results and 2014 Outlook

Gold Resource Corporation(NYSE MKT: GORO) (the "Company") today confirmed its 2013 annual mill production of 84,835 precious metal gold equivalent ounces and announced its 2014 Outlook targeting a production range of 85,000 to 100,000 precious metal gold equivalent ounces (at a 63:1 silver-to-gold ratio). Gold Resource Corporation is a low-cost gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $95 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver.

2013 YEAR-END HIGHLIGHTS

84,835 precious metal gold equivalent ounces produced

82,935 precious metal gold equivalent ounces sold; total cash cost of $626 per ounce

$125.8 million annual revenue

$58.3 million annual mine gross profit

$0.1 million annual net income

$25.5 million annual dividends paid, or $0.48 per share

$3.8 million physical gold and silver treasury

9.5% reduction in cash cost per ounce from third to fourth quarter

Delivered El Aguila Mill expansion on time

Overview of 2013 Results from El Aguila Project

"As gold and silver prices dropped 27% and 37%, respectively, 2013 was a challenging year for Gold Resource Corporation and the overall precious metal mining industry," stated Gold Resource Corporation CEO and President, Mr. Jason Reid. "In the face of the challenging year, our company was able to achieve its production range, significantly expand its milling capacity, continue to distribute monthly dividends back to its shareholders, all while posting a net income of $0.1 million. We are very proud of our colleagues in Oaxaca, headed by our Chief Operating Officer Mr. Rick Irvine and our General Manager Mr. Jesus Rivera, who were all instrumental in achieving these significant milestones during the difficult year."

For the year ended 2013, Gold Resource Corporation sold 82,935 precious metal gold equivalent ounces at a total cash cost of $626 per gold equivalent ounce. The Company recorded revenues of $125.8 million, mine gross profit of $58.3 million, and net income of $0.1 million.

Mr. Reid added, "The challenges that 2013 offered were opportunities for Gold Resource Corporation to critically review our operations and structure. Through this review, the Company has emerged a more efficient and stronger company, better positioned to weather the metal price volatility and potentially positioned to increase profits when metal prices move higher."

Overview of Q4 2013 Results from El Aguila Project

Fourth quarter production from the Aguila Project totaled 20,687 precious metal gold equivalent ounces at a total cash cost of $684 per ounce and realized average sales prices of $1,236 per ounce gold and $20 per ounce silver. The mine generated gross profit of $9.7 million, and the Company paid $4.8 million to shareholders in dividends.

2014 Production Outlook

The Company is targeting production of between 85,000 and 100,000 precious metal gold equivalent ounces during 2014. The target range was estimated based on the Company's 2014 mine plan, the area of the deposit scheduled to be mined during the upcoming year and the rate the Aguila mine can begin to deliver increased daily tonnage for processing, and assumes a 63:1 silver-to-gold conversion ratio. The Company is focused on not only increasing ounces in 2014 but lowering its cost per tonne and cost per ounce.

Project Update

A primary goal in 2013 was to expand the daily milling capacity of the Aguila Mill to a nominal 1,500 tonnes per day, which was successfully delivered in December 2013. The 2014 goal now shifts to continued development of the Arista underground mine to provide increased tonnage to the newly expanded mill. In 2013, processing averaged 866 tonnes milled per day, a 12% increase over 2012 tonnages. With the additional mill capacity of 1,500 tonnes per day, our project team has been tasked with increasing the daily tonnage pulled from Arista with the ultimate goal of delivering 1,500 tonnes per day consistently in the future.

The Arista decline ramp development has now passed level 18 and stopes are being developed on multiple veins from levels 2 to 16. Infill and step-out drilling continues to expand the mineralized horizon at Arista with continued plans to drill vein extensions along strike, at depth and parallel to the main deposit. Several parallel en echelon veins were discovered during 2013, with a strong possibility of additional vein discoveries with continued drilling.

During the third and fourth quarter of 2013, the Company initiated cost cutting measures with manpower reductions and operational efficiencies. Although the full impact of these cuts may not be realized until the second quarter of 2014, total cash costs have already decreased by 9.5% from the third quarter to the fourth quarter of 2013. (Total cash cost per ounce is a Non-GAAP Financial Measure. Please see additional information in Management's Discussion and Analysis and Results of Operation in the Company's annual report on Form 10-K for the period ended December 31, 2013).

2014 Exploration Program

A total of three exploration drills are currently at the Company's properties, with one on surface and two underground. The main exploration focus for 2014 will continue to be Arista and the extensions of this polymetallic epithermal system, which remains open along strike and at depth. The Company targets a $6 million budget for exploration at its Oaxaca Mining Unit for 2014.

The highlight of 2013's exploration drill program was the discovery of "Switchback," a polymetallic mineralized area located 500 meters to the northeast of Arista. With eight drill holes into this target, Switchback mineralization has now been defined over 450 meters along strike and 450 meters at depth. The Company continues to drill the highly prospective area, with the goal of making a development decision on Switchback in 2014.

About GRC:

Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 54,179,369 shares outstanding and no warrants. Gold Resource Corporation offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery. For more information, please visit GRC's website, located at www.Goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

Cautionary Statements:

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 "plan", "target", "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 Gold Resource Corporation's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's 10-K filed with the SEC.

See Accompanying Tables

The following information summarizes the results of operations for Gold Resource Corporation including the year ended December 31, 2013 and 2012, its financial condition at December 31, 2013 and 2012 and its cash flows for the year ended December 31, 2013 and 2012. The summary data for the year ended December 31, 2013 and 2012 is derived from our audited financial statements contained in our annual report on Form 10-K for the year ended December 31, 2013, but do not include the footnotes and other information that is included in the complete financial statements. Readers are urged to review the Company's Form 10-K in its entirety, which can be found on the SEC's website at www.sec.gov.

The calculation of our cash cost per ounce contained in this press release is a non-GAAP financial measure. Please see "Management's Discussion and Analysis and Results of Operation" contained in the Company's most recent report on Form 10-K.