El Aguila Project

The El Aguila Project is located in the San Jose de Gracia Mining District in Oaxaca, Mexico, and was the first property Gold Resource Corporation acquired for its Oaxaca Mining Unit in 2002. The property currently comprises 10 mining concessions aggregating 20,055 hectares. Multiple volcanic domes of various scales, and probably non-vented intrusive domes, dominate the district geology. These volcanogenic features are imposed on a pre-volcanic basement of sedimentary rocks. Polymetallic mineralization, including high-grade gold and silver, in this district is related to the manifestations of this classic volcanogenic system and is considered epithermal in character.

Gold Resource Corporation successfully declared production July 1, 2010 from a shallow, high-grade open pit at its El Aguila project, which enabled the Company to reach production and cash flow in the shortest amount of time. The Company's current producing Arista underground polymetallic deposit is located on the El Aguila project. For more information on the Arista underground mine, please visit the Company's "Producing Mines" page.

The Arista deposit is currently open on strike and at depth. The deposit currently extends over 1.5 kilometers along strike and has a depth of over 600 meters. The Company has discovered multiple parallel en echelon veins at Arista since its initial discovery in 2008, and exploration drilling continues to expand the limits of this high-grade epithermal deposit.

The Company announced in June 2013 the discovery of a new mineralized area known as "Switchback", located 500 meters northwest of the Arista deposit - [view related press release]. Two drill holes intercepted 14 and 15 meter wide mineralized zones containing gold and silver, as well as the base metals of copper, lead, and zinc. High-grade mineralization was encountered with intercepts including 12.92 grams per tonne gold and 410 grams per tonne silver over a core length of 2.2 meters. Switchback mineralization appears to have similar characteristics to the ore the Company currently extracts from its Arista deposit. The Company plans to continue drilling this highly prospective area.

Gold Resource Corporation is also testing the two kilometer zone between the now closed El Aguila open pit and the currently producing Arista deposit. Past drilling has encountered high-grade veins, and additional drilling is planned to test targets between these two deposits.

In 2013, exploration on the property included the property-wide airborne geophysical survey.

For the most updated information on exploration at the El Aguila Project, please view the latest Company presentation.