DENVER – February 22, 2010

– Gold Resource Corporation (GRC) (OTCBB: GORO,

FRANKFURT: GIH) is pleased to announce the signing of an underground mine contract

for development of its El Aguila Project’s Arista deposit, located in Oaxaca, Mexico.

Comsa S.A. de C.V., a mining contractor from Zimipan, Hidalgo state with 15 years

experience, has been contracted to develop 1500 meters of decline ramp and several

other works of underground development for the Arista mine. Comsa is an experienced

underground mine contractor in Mexico who has performed underground mine

development for companies including Minera Penoles and Minera Hecla.

William W. Reid, President of Gold Resource Corporation stated, “We are very excited to

have signed this underground mining contract as it signals an important milestone in the

life of this project. As announced in the December 1, 2009 press release, our internal

analysis of the high-grade Arista vein system should provide us with 8 years or more of

production, after the first twelve months of production from our high-grade gold and

silver El Aguila open pit. The Arista vein system’s mineralization remains open both

laterally as well as at depth with potential to provide additional years beyond the Aguila

Project’s current mine life total of 9 years.”

Mr. Reid continued, “The Arista vein system’s high-grade gold and silver mineralization

is coupled with base metals of copper, lead and zinc. We believe revenues from the

base metal content of the ore, when used as by-product credits, will pay the cash costs

of the operation. Consequently, at full production, our targeted 200,000 ounces of

precious metal gold equivalent per year could potentially be produced at “zero” cost.”

William W. Reid stated, “It is our goal to make a seamless transition from processing the

Company’s El Aguila open pit ore, presently being mined and milled, to the Arista

underground ore, which is now under development.”