Gold Resource Corporation Soon to Complete Detailed Dileneation Drilling on a Portion of the High-Grade Arista Deposit at Its El Aguila Project

Continued Intercepts of 1+ Oz/T Gold Equivalent

DENVER, CO–(EMWNews – August 5, 2008) – Gold Resource Corporation (GRC) (OTCBB: GORO)

(FRANKFURT: GIH) reports its focused delineation drilling at the Arista

deposit continues to intercept high-grade. The Arista deposit is part of

GRC’s El Aguila Project in the southern state of Oaxaca, Mexico, which is

targeting gold production by the end of 2008 subject to timely obtaining

the remaining required permits, regulatory approvals and equipment delivery

schedules.

Continued La Arista drill highlights include:

— 1.0 meter of 9.31 g/t gold, 600 g/t silver, 1.08% copper, 0.23%

lead, 0.47% zinc, (or a gold equivalent* value of 26.69 g/t (0.86

oz/tonne))

— 1.0 meter of 2.53 g/t gold, 204 g/t silver, 0.60% copper, 1.10%

lead, 16.85% zinc, (or a gold equivalent* value of 31.79 g/t (1.02

oz/tonne))

— 1.0 meter of 1.85 g/t gold, 708 g/t silver, 0.89% copper, 4.13%

lead, 8.73% zinc, (or a gold equivalent* value of 37.10g/t (1.19

oz/tonne))

— 1.0 meter of 4.18 g/t gold, 78 g/t silver, 0.29% copper, 4.37% lead,

6.71% zinc, (or a gold equivalent*value of 21.73g/t (0.70 oz/tonne))

For the last several months GRC has focused its drilling on portions of the

Arista deposit’s two main parallel veins, the Baja vein and the Arista

vein. This delineation drilling is approximately along 400 meters of

strike length and 300 meters of vertical extent (see longitudinal sections

below). In addition to the two prominent veins, drilling has indicated a

third parallel vein east of the Arista vein. Because of the angles

involved when drilling from the east, not all drill holes reached the Baja

vein and so that vein has not yet been tested for mineralization as deep as

the Arista vein.

Recent drill results for the Arista deposit include:

Hole   Angle From  Interval  Au      Ag   Cu    Pb     Zn     AuEq*  AuEq*

#      (deg) Meters Meters   g/t     g/t  %     %      %      g/t  oz/tonne

Arista Vein

108014  -70  265.00  1.00    9.31    600  1.08  0.23   0.47   26.69  0.86



108014  -70  376.00  1.00    0.31    125  0.11  0.59  11.05   18.17  0.58

108014  -70  377.00  1.00    0.15     77  0.13  0.25  15.50   22.19  0.71

108014  -70  378.00  1.00    0.21     3   0.09  0.12  23.20   30.78  0.99

Average      376.00  3.00    0.22     80  0.11  0.96  16.58   23.71  0.76



108014  -70  382.00  1.00    0.33     32  0.68  1.77  11.80   20.76  0.67



108015  -60  178.90  1.10    0.80    380  0.45  0.53   1.04   12.55  0.40

108015  -60  180.00  1.00    1.85    708  0.89  4.13   8.73   37.10  1.19

108015  -60  181.00  1.00    4.18     78  0.29  4.37   6.71   21.73  0.70

108015  -60  182.00  1.00    2.06    529  0.97  1.34   2.30   21.51  0.69

108015  -60  183.00  0.80    2.00    509  0.43  0.49   0.90   16.22  0.52

Average      177.80  6.00    1.82    385  0.51  1.81   3.29   18.60  0.60



108015  -60  196.00  1.00    0.18    263  0.30  0.89   1.23    9.69  0.31



108016  -45  150.00  0.60    5.62   29.2  0.50  1.26   3.66   14.36  0.46

108016  -45  150.60  0.45    3.54 1560.0  0.99  1.60   3.42   47.05  1.51

108016  -45  151.05  0.85    1.25   10.6  0.16  0.29   0.68    3.30  0.11

108016  -45  151.90  0.90    0.75   32.4  0.43  2.02   3.40   10.13  0.33

108016  -45  152.80  0.40    0.02   20.7  0.44  0.06   0.14    2.16  0.07

108016  -45  153.20  0.80    0.01   17.4  0.23  0.38   1.13    3.12  0.10

108016  -45  154.00  1.30    0.10   15.0  0.30  0.31   0.68    2.71  0.09

108016  -45  155.30  0.70    0.92   30.9  0.32  3.73   1.92   10.56  0.34

108016  -45  156.00  1.00    1.44  344.0  0.64  0.95   2.36   15.31  0.49

108016  -45  157.00  0.56    3.02  540.0  1.16  0.84   4.84   25.79  0.83

108016  -45  157.56  0.44    3.47  445.0  0.62  0.93   3.78   21.22  0.68

Average      150.00  1.05    4.73    685  0.71  1.41   3.56   28.37  0.91

Average      155.30  2.70    1.96    320  0.66  1.64   2.99   17.22  0.55

Average      150.00  8.00    1.52    208  0.48  1.09   2.00   11.89  0.38



108018  -70  313.50  0.80    1.37     96  0.21  2.00   3.79   11.86  0.38

108018  -70  314.30  0.85    0.22     95  0.22  1.41   2.05    7.65  0.25

108018  -70  315.15  1.35    0.58    204  0.72  4.41  13.80   31.24  1.00

108018  -70  316.50  0.50    0.18     29  0.19  0.44   2.89    5.73  0.18

108018  -70  317.00  1.00    2.53    204  0.60  1.10  16.85   31.79  1.02

108018  -70  318.00  1.00    0.60     42  0.48  0.44   4.18    8.99  0.29

108018  -70  319.00  1.00    0.23     37  0.73  0.43   1.33    5.73  0.18

108018  -70  320.00  1.00    0.16     33  0.29  0.75   1.13    4.34  0.14

Average      313.50  7.50    0.77    102  0.47  1.56   6.45   14.92  0.48



* (Gold Equivalent (AuEq*) in chart using gold at $650/oz, silver at

   $14/oz, copper at $3.10/lb, lead at $1.40/lb, zinc at $1.20/lb) Assays

   by ALS Chemex, Vancouver, BC Canada

When the remaining 5 holes of the current delineation program are drilled

and assays are returned from ALS Chemex, GRC will run an updated estimate

for mineralized material (equivalent to measured and indicated resource in

Canada). The Company believes its previously stated near term target of

1.3 million gold equivalent ounces should be achievable from this focused

drilling. The veins drilled to date are open laterally as well as with

depth.

William W. Reid, President of Gold Resource Corporation stated, “We are

very pleased with the results so far as the drilling indicates parallel

veins that have excellent mining widths, show strong continuity and are

high-grade in value. When we achieve our near term target of 1.3 million

gold equivalent ounces, our longer term stated target of 2 million gold

equivalent ounces may increase based on our better understanding of the El

Aguila property’s potential.”

The focused drilling of this polymetallic deposit appears to indicate

high-grade values, many exceeding one ounce gold equivalent per tonne,

occurring around and below the approximate 825 meter elevation. Geologic

models for epithermal deposits and GRC’s fluid inclusion studies indicate

the top or upper portion of the Arista and Baja veins may be represented by

this elevation, which is located approximately 100 meters below the valley

floor elevation. The significance of this is two fold: First this deposit

remains intact as it has not been eroded away, previously discovered or

mined. Secondly, epithermal deposit models, for similar occurrences

elsewhere in Mexico, generally indicate the potential depth extent could be

as much as 600 to 700 meters of mineralization, which would be over twice

the depth of what has been drilled to date.

Mr. Reid continued, “We will continue exploration drilling, beyond our

current delineation focus, to determine what the actual size and extent of

mineralization might be at the Arista deposit but it is very exciting to

see the potential for Arista areas not yet drilled to have the possibility

to double in vertical extent and, equally, also double the lateral extent

of these veins. In addition to the Arista deposit potential, there are 4

or 5 additional high-grade veins in the immediate Arista area such as the

Aire vein, the many geomagnetic anomalies on this project yet to be tested,

and the remaining exploration potential on the 95% of the El Aguila

Project’s land concession that has not yet been explored.”

Mr. Reid stated, “With the soon to be completed initial definition of

mineralized material drilled at a portion of the Arista deposit, we will

have the basis to begin our underground mine design. Our goal is to begin

driving the decline for the Arista deposit’s underground mine at the same

time as we begin to generate cash flow from our first 12 months of

production at the Aguila Project’s high-grade open pit. And, we are

particularly excited to begin a broader exploration program to see just how

large the mineralization at the Aguila Project could be.”

About GRC

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. The Company has 100% interest

in four potential high-grade gold and silver properties in Mexico’s

southern state of Oaxaca. The company has 34,231,952 shares outstanding

and no warrants. 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 commercial production at the

El Aguila Project will be achieved in the time frames estimated, at the

rates and costs estimated, or even at all. Factors that could cause or

contribute to such differences include, but are not limited to, those

discussed in the company’s 10-K and Form SB-2 filed with the Securities and

Exchange Commission

Contact: Jason Reid VP / Corporate Development 303-320-7708