COLORADO SPRINGS – January 30, 2017 – Gold Resource Corporation (NYSE MKT: GORO) (the "Company") is saddened to report that an employee was fatally injured at its Arista Mine in Oaxaca, Mexico on January 29, 2017. The accident involved the operation of heavy equipment inside the mine.
The Company has voluntarily suspended mining and milling operations and expects to allow up to 48 hours before resuming operations to provide time to review and strengthen safety policies, procedures and protocols at all operations. Investigations by both the Company and the government into the circumstances surrounding the accident are currently underway.
This accident follows a recent unrelated fatality of a worker employed by a narrow-vein mine contractor at the Arista Mine as a result of a ground fall event. The Company and the contractor immediately notified governmental authorities following the first accident, and the authorities' initial investigation concluded there was no wrong-doing on the part of the Company or the worker.
"We are deeply saddened by these two tragic accidents," stated Mr. Jason Reid, CEO and President of Gold Resource Corporation. "Our thoughts and prayers go out to the miners and their families. We will continue to work to provide the safest environment possible for our employees and contractors at all Company projects and although the causes of these accidents are unrelated, we have chosen to take some time to review and strengthen our safety protocols prior to resuming operations."
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. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has 56,839,823 shares outstanding, zero warrants, zero debt and has returned over $109 million back to shareholders since commercial production commenced July 1, 2010. 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.
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.