El Chamizo

In June 2011, Gold Resource Corporation staked mineral claims between the El Rey property and Alta Gracia property and acquired an exploration concession from the Mexican government of approximately 26,386 hectares (261 square kilometers, 101 square miles) referred to as El Chamizo.

In March 2013, the Company acquired a concession known as Cerro Colorado from Almaden Minerals, Ltd. consisting of approximately 1,860 hectares. The Cerro Colorado concession is surrounded by our El Chamizo concession and we now include it as part of the El Chamizo property.

Because of the close proximity of El Chamizo to Alta Gracia, exploration activity began on this property during late 2011 and to date has been limited to geochemical sampling and drilling of eight shallow core holes for a total of 1,327 meters (4,353 feet). In 2013, exploration on the property included the property-wide airborne geophysical survey and additional geochemical sampling.