COMMERCIAL PRODUCTION

PROMOTES MR. JASON REID TO PRESIDENT

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

FRANKFURT: GIH) announces Commercial Production as of July 1, 2010 from its 100%

owned El Aguila high-grade gold and silver project. The El Aguila Project is located in

the southern state of Oaxaca, Mexico. The Company also announces effective July 1,

2010, the promotion of Mr. Jason Reid to Gold Resource Corporation’s President.

Gold Resource Corporation’s CEO, William W. Reid stated, “It has been a successful

team effort with a lot of hard work from our staff and subcontractors which has allowed

us to declare Commercial Production three years and three months after making the

decision to put the El Aguila Project into production. Support from our local Totolapam

Ejido, including support from the three towns of Totalapam, San Jose de Gracia and Las

Margaritas, and support from our strategic alliance partner, Hochschild Mining plc were

also instrumental to our success.”

Gold Resource Corporation made its production decision April of 2007, at that time,

having only 3 to 4 years of projected mine life. The production decision was based on

the excellent economics at El Aguila that indicated an estimated capital payback for the

Project of less than one year. Today, the Company estimates the El Aguila Project’s

mine life at a minimum of 9 years, predominantly due to its Arista deposit discovered

subsequent to its 2007 production decision. Gold Resource Corporation’s management

is confident that over time the Project’s mine life could double or more by expansion of

its known deposits alone and is encouraged by its exploration program’s recent

discoveries including a new high-grade gold and silver area (see Company’s June 10,

2010 press release).

Mr. William Reid continued, “We have been consistent in our commitment to our

strategy; seek low-cost, high margin projects, place such projects into production at the

earliest point in time and keep a disciplined capital structure. This commitment has led

to creating significant value to the owners of the Company, its shareholders.”

Gold Resource Corporation’s Board of Directors voted unanimously to promote Mr.

Jason Reid to President of the Company effective July 1, 2010. Mr. Jason Reid

previously served as GRC’s Vice President of Corporate Development. William W. Reid

steps down as President while remaining CEO of the Company.

Mr. William Reid stated, “It is with personal pride that I announce the Board’s decision to

promote Mr. Jason Reid to President of the Company. Jason has been with Gold

Resource Corporation since it was a private company over 4 years ago and has been

instrumental in its success. As a Company that demands a great deal of effort at the

corporate level from just a few individuals, Jason has handled and assisted in multiple

aspects of the Company as VP of Corporate Development. These included the

execution of the Company’s growth strategy, self underwritten IPO, decisions on

operations, activities relative to equity funding, retail and institutional marketing and

keeping shareholders informed on the Company’s progress. We are confident Jason will

take the Company into the next decade and beyond preserving our legacy and building

on our unique approach to the business of mining.”

Gold Resource Corporation’s President, Mr. Jason Reid, stated, “We are very pleased to

report Commercial Production which marks a major milestone for the Company and its

shareholders as we emerge as a low cost gold producer. This milestone is a credit to all

involved and particularly our Mexican subsidiary’s dedicated staff. I am honored to be

the new President of Gold Resource Corporation and honored to continue working with

our competent, professional and hard working group of people. I am not only motivated,

but committed to continue execution of the Company’s business strategy for the benefit

of its shareholders.”

Mr. Jason Reid continued, “Many challenging aspects of the mining business, including

deposit discovery, permitting, engineering, funding, construction, establishing a team of

professionals and executing Commercial Production are now behind us. We have met

these real and complex challenges but our work continues. We now enter a new phase

focusing on our aggressive growth curve targeting to triple annual production to 200,000

precious metal gold equivalent ounces three years from today, at zero cash cost using

industry standard base metal byproduct credits.”

“With cash flow from successful operations we plan to accelerate our aggressive

exploration program, target additional low-cost gold and silver ounces and remain

focused on potential dividend distributions.” stated Mr. Jason Reid.