Gold Resource Corporation Announces Contract With SLR for Completion of the Back Forty Feasibility Study
Gold Resource Corporation (NYSE:GORO) (the "Company") today announced that it has engaged Responsible Mining Solutions Corp. ("RMS") a part of SLR Consulting Ltd. ("SLR"), to complete a comprehensive feasibility study (the "Feasibility Study") for the Company's wholly owned Back Forty project, located in the Upper Peninsula of Michigan.
The Feasibility Study will evaluate technical, economic, and operational parameters associated with the Back Forty project, including mine design considerations, processing options, infrastructure requirements, environmental factors, and project economics. Work under the agreement will commence immediately.
This engagement represents a key milestone in Gold Resource Corporation's broader growth strategy, as the Company advances its efforts to expand its North American asset base and strengthen its long‑term production profile. The Feasibility Study is expected to provide a critical foundation for informed decision making regarding the scope, sequencing, permitting and execution of the project.
SLR was selected based on its extensive experience in mining engineering, mineral economics, and project development, as well as its familiarity with complex feasibility level evaluations. The Company expects the engagement to support not only the initial Feasibility Study but also potential follow‑on technical work and permitting support as the project advances.
In October 2023, the Company published a Technical Report Summary (the "TRS") in compliance with Subpart1300 of Regulation S-K. Using gold prices of $1,800 per ounce, silver prices of $23.30 per ounce and copper prices of $3.90 per pound, the TRS resulted in an IRR of 25.7% and an NPV@6% of $214.5 million. The Company expects that the current commodity environment will result in a significantly higher valuation for the project and support a production decision in the future.
About GRC:
Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of an experienced board and senior leadership team, the Company's focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine in Oaxaca, Mexico and to develop the Back Forty Project in Michigan, USA. For more information, please visit the Company's website, located at www.goldresourcecorp.com.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking words such as "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, statements regarding the anticipated scope, timing, results, and potential outcomes of the Feasibility Study, the Company's broader growth strategy and plans to expand its North American asset base and strengthen its long‑term production profile, the potential for follow‑on technical work as the project advances, and expectations regarding the impact of the current commodity environment on the value of the project and the Company's ability to support a future production decision. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Forward-looking statements involve a number of risks and uncertainties such as the ability of the Company and its consultants to complete the Feasibility Study as expected, on the anticipated schedule and within budget; the availability, quality and interpretability of technical data; assumptions and estimates regarding mine design and sequencing, processing options and metallurgical performance, infrastructure requirements, environmental and permitting matters, capital and operating costs, and other factors typically evaluated in feasibility-level studies; commodity price volatility (including changes from the prices used in the TRS), operating risks, risks related to political, regulatory and labor matters, market trends and conditions and other factors discussed in the Company's periodic reports filed with the Securities and Exchange Commission (the "SEC"), 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. Forward-looking statements are subject to risks and uncertainties. Additional risks related to the Company may be found in the periodic and current reports filed with the SEC by the Company, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025, which are available on the SEC's website at www.sec.gov.
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Allen Palmiere
Chief Executive Officer
720-459-3854
www.GoldResourceCorp.com