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Gold Useful resource Company Declares 2024 Drill Outcomes

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April 4, 2025
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Gold Useful resource Company Declares 2024 Drill Outcomes
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New Vein System With Increased Grades Provides to Future Potential

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DENVER — Gold Useful resource Company (NYSE American: GORO) (the “Firm”) is happy to announce a abstract of the 2024 exploration drill outcomes on the Corporations Don David Gold Mine (“DDGM”) in Oaxaca, Mexico.

“We’re excited to share the optimistic outcomes of our 2024 exploration drilling program that point out that the Three Sisters and Gloria vein programs will likely be important contributors to our future useful resource at Don David,” said Allen Palmiere. “The invention and definition of the system is thrilling and is a testomony to our workforce’s dedication and experience. These new vein programs have the potential to not solely add to our useful resource potential however to additionally will improve our backside line with improved accessibility and decreased manufacturing prices. Underground growth has just lately intersected the system and the pattern outcomes up to now have confirmed the earlier drill outcomes. We stay dedicated to growing this method into the longer term mine plan and additional advancing our exploration efforts with the purpose of maximizing shareholder worth and natural progress.”

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2024 EXPLORATION SUMMARY

The 2024 exploration drill program centered on underground infill and enlargement drilling throughout the Three Sisters and Gloria vein programs in addition to in veins of the North Arista system. Important vein widths and grades recognized by drilling have bolstered the emergence of the Three Sisters and Gloria programs as a significant third vein system at DDGM, positioned between and north of the Arista and Switchback programs. This system yielded encouraging outcomes, which had been included within the up to date S-Okay 1300 Technical Report Abstract for DDGM launched on March 5, 2025 (the “Report”), additional demonstrating the potential of those vein programs.

The Firm believes that the mine has important potential to generate optimistic money circulate from the brand new areas of Three Sisters and Gloria, in addition to different areas which have been found close to the present mining zones. These new vein programs provide simply accessible assets, located near the present mine portal and at considerably larger elevations than present manufacturing areas. The placement of those vein programs ought to lead to decreased haulage prices and decreased whole manufacturing prices. So as to develop entry and higher outline these new areas, an funding have to be made in extra gear and growth.

2024 Drill Outcomes: The exploration program included 23 underground infill and enlargement drill holes, totaling 7,671 meters of diamond drilling at DDGM. Notable high-grade intersections had been recognized, advancing our exploration targets by confirming the continuity and high quality of polymetallic mineralization up-dip and alongside strike. This system confirmed and upgraded mineral assets from earlier drilling campaigns throughout the Three Sisters and Gloria vein programs in addition to in veins of the North Arista system. The Firm expects to conduct extra exploration growth in 2025 to allow additional infill and enlargement drilling to the northwest of the present outlined vein extents within the Three Sisters/Gloria zone.

Under are choose 2024 exploration infill drill outcomes, together with Gold Equal1 (“AuEq”) and Web Smelter Return2 (“NSR”) values from the Three Sisters and Gloria vein programs. All drill gap size composites are introduced as Estimated True Widths3 (“ETW”) in meters.

  • Gap No. 524001: Sandy 1 vein
    • 6.85 m with 3.40 g/t AuEq and NSR worth of $242/t
      • Contains: 2.07 m with 6.71 g/t AuEq and NSR worth of $476/t
  • Gap No. 524005: Sandy 2 vein
    • 4.70 m with 15.53 g/t AuEq and NSR worth of $966/t
      • Contains: 2.01 m with 21.08 g/t AuEq and NSR worth of $1,298/t
  • Gap No. 524005: Gloria vein
    • 3.00 m with 7.67 g/t AuEq and NSR worth of $535/t
      • Contains: 1.22 m with 16.47 g/t AuEq and NSR worth of $1,142/t
  • Gap No. 524008: Gloria vein
    • 12.30 m with 4.77 g/t AuEq and NSR worth of $348/t
      • Contains: 3.71 m with 6.17 g/t AuEq and NSR worth of $487/t
  • Gap No. 524011: Sandy 1 vein
    • 8.03 m with 1.04 g/t AuEq and NSR worth of $152/t
      • Contains: 4.58 m with 1.35 g/t AuEq and NSR worth of $199/t
  • Gap No. 524011: Sandy 2 vein
    • 3.89 m with 6.22 g/t AuEq and NSR worth of $435/t
      • Contains: 3.13 m with 9.20 g/t AuEq and NSR worth of $632/t
  • Gap No. 524015: Sadie 2 vein
    • 6.00 m with 5.53 g/t AuEq and NSR worth of $405/t
      • Contains: 3.14 m with 9.70 g/t AuEq and NSR worth of $691/t
  • Gap No. 524027: Sadie 2 vein
    • 4.48 m with 16.65 g/t AuEq and NSR worth of $1,073/t
      • Contains: 1.01 m with 36.10 g/t AuEq and NSR worth of $2,314/t
  • Gap No. 524031: Sandy 2 vein
    • 8.72 m with 5.03 g/t AuEq and NSR worth of $347/t
      • Contains: 1.39 m with 25.09 g/t AuEq and NSR worth of $1,667/t
  • Gap No. 524042: Sadie 2 vein
    • 5.33 m with 10.26 g/t AuEq and NSR worth of $666/t
      • Contains: 1.98 m with 13.77 g/t AuEq and NSR worth of $893/t
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1

Gold Equal (“AuEq”) g/t is calculated utilizing solely gold and silver grades utilizing an Au:Ag ratio of 89:11 and metallic costs of y $2,760/oz gold and $31oz silver.

2

Web Smelter Return (“NSR”) is a calculated worth of the estimated internet revenues per tonne much less transportation and refining prices and different miscellaneous payables. The NSR values calculated make the most of metallic value estimates of $2,760/oz gold, $31/oz silver, $4.15/lb copper, $0.89/lb lead and $1.31/lb zinc.

3

Estimated True Width (“ETW”) for reported vein intercepts are based mostly on 3D fashions of the person veins. Estimates are decided in cross-section by measuring the modelled vein thickness perpendicular to the vein margins and thru the midpoint of the drill gap intercept. Variations between particular person ETW’s and downhole interval lengths will range between drill holes, relying on drill gap inclination, variations in vein strike and dip, and total geometries of the completely different vein programs.

Three Sisters and Gloria Vein Techniques

Preliminary drill intercepts into what’s now known as the Three Sisters vein system had been made in 2017 from underground drill stations within the Arista vein system whereas concentrating on northern extensions of veins within the Switchback system. Important progress in defining this third vein system at DDGM occurred in 2022 and 2023, because of focused underground exploration drilling guided by geologic re-interpretation. In 2024, the geologic mannequin for the Three Sisters and Gloria vein programs was refined and improved utilizing all obtainable underground drill information in preparation for the 2024 year-end useful resource replace.

The Three Sisters and Gloria vein programs stay open to the northwest, up-dip and at depth. Constructive outcomes up to now have guided the course of each infill and enlargement (step-out) drill packages at DDGM.

Mine Improvement – Three Sisters

In December 2024, DDGM commenced drift growth to entry the Three Sisters vein system. The event on Degree 4 has efficiently intersected the Sandy 1 and Sandy 2 veins, revealing widths of as much as 7.5 meters inside a posh of colloform banded, hydrothermal breccia quartz veins. Detailed manufacturing channel sampling of those veins has confirmed high-grade outcomes, with particular person samples returning as much as 44.23 AuEq and $2,780/t NSR4.

__________________________

4

Particular person manufacturing channel pattern of 0.8 m width. Assays by Corporacion Quimica Platinum S.A. de C.V., Guanajuato, Mexico, an impartial laboratory accredited by the Mexican Accreditation Entity, A.C. (Entidad Mexicana de Acreditacion, A.C. (EMA)).

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Lifetime of Mine Plan

The 2024 year-end estimates of Mineral Reserves and Mineral Assets included within the report are the bottom of DDGM’s Lifetime of Mine (“LOM”) plan. Conceptual stopes had been created utilizing Deswik Stope Optimizer software program, making use of a $120/t NSR cut-off grade. These stopes had been then built-in into mine designs and schedules inside Deswik to acquire the up to date LOM plan. All stopes had been evaluated for financial viability, with non-viable stopes excluded from the plan.

As of year-end 2024, measured and indicated Mineral Assets have a conversion price of 88% to the LOM plan whereas inferred Mineral Assets have a conversion price of 74%, leading to a complete common conversion price of 80% of estimated Mineral Reserves and Mineral Assets.

In comparison with the 2023 LOM plan, the 2024 LOM plan displays a ten% enhance in estimated Mineral Assets, primarily pushed by a 307% enhance of Mineral Assets within the Three Sisters space. Conversely, the Arista and Switchback areas present a lower in Mineral Assets because of depletion. Moreover, a few of the noticed enhance might be attributed to larger metallic costs used within the NSR calculations.

Complete Useful resource in LOM

Class

YE 2024

Tonnes

Conversion Fee

%

Measured & Indicated

1,322,000

88

Inferred

1,838,000

74

TOTAL

3,160,000

80

Measured and Indicated Useful resource in LOM

Zone

YE 2023

Tonnes

YE 2024

Tonnes

Distinction

Tonnes

%

Arista

505,356

421,770

(83,586)

-17

Switchback

500,260

218,770

(281,722)

-56

Three Sisters

57,890

526,152

468,262

809

TOTAL

1,063,506

1,166,460

102,954

10

Inferred Useful resource in LOM

Zone

YE 2023

Tonnes

YE 2024

Tonnes

Distinction

Tonnes

%

Arista

297,180

414,054

116,874

39

Switchback

219,069

285,658

66,589

30

Three Sisters

234,014

662,749

428,735

183

TOTAL

750,263

1,362,461

612,198

82

All Useful resource in LOM

Zone

YE 2023

Tonnes

YE 2024

Tonnes

Distinction

Tonnes

%

Arista

802,536

835,824

33,288

4

Switchback

719,329

504,196

(215,133)

-30

Three Sisters

291,904

1,188,901

896,997

307

TOTAL

1,813,769

2,528,921

715,152

39

NI43-101 Technical Report for Don David Gold Mine filed on SEDAR+

As per Canadian securities legal guidelines, the Firm is happy to announce that following the discharge of the Report, the Firm has filed a corresponding Nationwide Instrument 43-101 Technical Report for DDGM (the “43-101 Report”). The certified individuals for functions of the 43-101 Report are the identical people named within the Firm’s March 5, 2025 information launch who ready the S-Okay 1300 Technical Report. The 43-101 Report is obtainable for assessment on SEDAR+ at www.sedar.com

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Choose 2024 Infill and Growth Drill Outcomes5 – Three Sisters, Goria and North Arista Vein Techniques

HOLE

VEIN FROM TO INTERVAL ETW* AU AG AuEq CU PB ZN NSR

ID

(m) (m) (m) (m) ( g/t ) ( g/t ) (g/t) ( % ) ( % ) ( % ) ($/t)

524001

Sadie 2

291.55

294.22

2.67

2.63

1.47

60

2.14

0.06

0.18

0.43

130

Incl.

293.00

294.22

1.22

1.20

2.68

76

3.53

0.12

0.36

0.86

215

524001

Sandy 1

298.87

305.82

6.95

6.85

1.51

168

3.40

0.17

0.97

2.01

242

Incl.

303.72

305.82

2.10

2.07

2.41

383

6.71

0.38

1.69

3.39

476

524005

Sandy 2

338.57

343.54

4.97

4.70

14.13

125

15.53

0.32

2.83

7.13

966

Incl.

338.57

340.69

2.12

2.01

18.55

226

21.08

0.40

3.77

8.15

1,298

524005

Sasha 2

351.61

355.82

4.21

3.65

2.22

31

2.56

0.12

0.98

2.70

187

Incl.

352.79

355.12

2.33

2.02

3.32

35

3.71

0.15

1.30

3.85

267

524005

Gloria

365.78

369.70

3.92

3.00

0.86

607

7.67

0.38

1.09

2.42

535

Incl.

365.78

367.37

1.59

1.22

1.79

1309

16.47

0.72

2.30

5.06

1,142

524008

Sandy 2

287.44

295.48

8.04

3.35

1.85

155

3.59

0.03

0.09

0.23

213

Incl.

292.24

294.75

2.51

1.04

5.14

245

7.89

0.04

0.15

0.31

453

524008

Gloria

317.73

330.07

12.34

12.30

3.97

71

4.77

0.29

2.27

4.15

348

Incl.

322.47

326.19

3.72

3.71

5.16

90

6.17

0.25

5.09

6.85

487

524008

Splay Gloria

385.65

391.78

6.13

2.59

1.55

30

1.89

0.22

0.83

3.68

166

Incl.

387.63

389.40

1.77

0.75

3.44

36

3.84

0.24

0.59

2.76

257

524011

Sandy 1

335.62

346.10

10.48

8.03

0.60

40

1.04

0.17

2.35

4.93

152

Incl.

338.93

344.91

5.98

4.58

0.83

47

1.35

0.19

3.14

6.60

199

524011

Sandy 2

347.16

353.38

6.22

3.89

5.86

33

6.22

0.24

1.62

6.18

435

Incl.

349.44

353.38

3.94

3.13

8.72

42

9.20

0.32

2.36

8.51

632

524011

Sasha 2

357.83

361.67

3.84

3.24

1.67

32

2.02

0.16

1.34

3.47

174

Incl.

360.08

361.67

1.59

1.34

2.97

50

3.53

0.19

2.40

6.04

299

524015

Sadie 2

324.72

331.64

6.92

6.00

1.36

372

5.53

0.60

1.06

2.63

405

Incl.

325.88

329.50

3.62

3.14

2.10

677

9.70

0.87

1.54

3.73

691

524022

Sandy 1

241.28

245.85

4.57

2.94

0.73

257

3.61

0.15

0.44

1.05

245

Incl.

242.33

243.50

1.17

0.75

0.54

321

4.14

0.17

0.56

1.38

287

524022

Sandy 2

255.72

259.58

3.86

2.48

0.61

233

3.23

0.15

0.51

1.18

224

Incl.

258.61

259.58

0.97

0.62

1.28

362

5.34

0.13

0.74

1.78

360

524024

Gloria

248.86

254.31

5.45

3.86

1.48

39

1.92

0.44

2.64

9.89

272

Incl.

250.27

253.00

2.73

1.93

2.10

35

2.49

0.44

3.31

14.66

366

524027

Sadie FW

142.61

146.00

3.39

2.60

0.26

364

4.35

0.01

0.05

0.13

276

Incl.

145.41

146.00

0.59

0.45

0.21

769

8.84

0.01

0.15

0.27

564

524027

Sadie 2

261.99

267.16

5.17

4.48

2.08

1299

16.65

0.32

0.63

1.53

1,073

Incl.

266.00

267.16

1.16

1.01

3.01

2950

36.10

0.81

0.44

1.44

2,314

524027

Sandy 1

270.22

272.87

2.65

2.29

0.85

435

5.73

0.23

0.33

0.84

378

Incl.

271.15

272.25

1.10

0.95

1.34

793

10.24

0.45

0.64

1.69

681

524029

Sadie HW

217.00

219.75

2.75

2.25

0.61

310

4.09

0.04

0.09

0.25

259

Incl.

218.11

219.75

1.64

1.34

0.89

438

5.80

0.05

0.14

0.36

367

524029

Sadie 2

295.68

297.92

2.24

1.93

0.21

363

4.28

0.01

0.11

0.37

275

Incl.

297.10

297.92

0.82

0.71

0.56

963

11.36

0.03

0.29

0.92

730

524031

Sandy 2

302.92

315.17

12.25

8.72

1.69

298

5.03

0.24

0.96

2.08

347

Incl.

302.92

304.73

1.81

1.39

4.80

1809

25.09

0.55

3.32

5.53

1,667

524033

Splay Gloria

295.29

302.06

6.77

4.35

0.45

42

0.91

1.18

1.37

2.97

153

Incl.

297.90

300.16

2.26

1.45

0.26

50

0.82

1.70

1.81

3.21

178

524034

Splay Gloria FW

459.64

466.03

6.39

5.53

0.19

28

0.50

0.12

0.85

5.65

112

Incl.

459.64

461.76

2.12

1.83

0.47

37

0.88

0.23

1.63

7.44

168

524037

Sandy 1

334.70

336.93

2.23

1.83

1.07

288

4.29

0.05

0.08

0.12

266

Incl.

334.70

335.67

0.97

0.80

2.26

504

7.91

0.02

0.07

0.15

481

524037

Sandy 2

339.75

342.91

3.16

2.24

0.57

461

5.74

0.06

0.14

0.30

365

Incl.

340.96

342.91

1.95

1.38

0.89

733

9.12

0.06

0.19

0.40

578

524042

Sadie HW

296.60

300.42

3.82

2.93

1.30

127

2.72

0.03

0.08

0.14

163

Incl.

297.24

298.31

1.07

0.82

2.41

144

4.03

0.02

0.09

0.16

234

524042

Sadie 2

301.48

309.06

7.58

5.33

1.89

746

10.26

0.21

0.78

1.46

666

Incl.

306.25

309.06

2.81

1.98

1.98

1051

13.77

0.26

1.16

1.37

893

524046

Splay 31

253.08

258.40

5.32

2.66

1.54

116

2.84

0.30

11.33

12.69

456

Incl.

256.19

257.94

1.75

0.88

1.63

225

4.15

0.22

27.84

17.48

780

524048

Marena North

122.71

125.26

2.55

2.51

0.52

56

1.15

0.25

2.45

3.65

149

Incl.

124.31

125.26

0.95

0.94

1.29

133

2.78

0.30

6.36

9.16

356

524054

Marena North

118.02

120.94

2.92

2.24

0.43

38

0.86

0.21

2.34

2.83

119

Incl.

118.02

119.21

1.19

0.91

0.99

83

1.92

0.29

5.59

5.80

256

524055

Splay 31

248.06

252.00

3.94

3.02

0.27

52

0.86

0.10

0.78

11.68

203

Incl.

250.78

252.00

1.22

0.94

0.43

104

1.60

0.09

1.69

17.75

331

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5

Assays by ALS, Vancouver, BC Canada. The Firm conducts a major QA/QC program which incorporates the insertion of assay requirements, blanks, and duplicates within the pattern stream to make sure the assay lab outcomes are inside specified efficiency ranges.

About GRC:

Gold Useful resource Company is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Beneath the course of an skilled board and senior management workforce, the Firm’s focus is to unlock the numerous upside potential of its current infrastructure and huge land place surrounding the mine in Oaxaca, Mexico and to develop the Again Forty Undertaking in Michigan, USA. For extra data, please go to the Firm’s web site, positioned at www.goldresourcecorp.com.

Ahead-Wanting Statements:

This press launch accommodates forward-looking statements throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended. Ahead-looking phrases corresponding to “plan,” “goal,” “anticipate,” “imagine,” “estimate,” “intend” and “count on” and related expressions are meant to establish such forward-looking statements. Such forward-looking statements embrace, with out limitation, (i) the potential of the Three Sisters and Gloria vein programs and the Firm’s expectation relating to its drilling and exploration actions in 2025. All forward-looking statements on this press launch are based mostly upon data obtainable to the Firm as of the date of this press launch, and the Firm assumes no obligation to replace any such forward-looking statements. Ahead-looking statements contain quite a lot of dangers and uncertainties, and there might be no assurance that such statements will show to be correct. The Firm’s precise outcomes may differ materially from these mentioned on this press launch. Ahead-looking statements are topic to dangers and uncertainties, together with delays or challenges in satisfying the closing situations of the providing. Further dangers associated to the Firm could also be discovered within the periodic and present experiences filed with the Securities and Trade Fee by the Firm, together with the Firm’s Annual Report on Kind 10-Okay for the 12 months ended December 31, 2023, which can be found on the SEC’s web site at www.sec.gov.

View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20250403205919/en/

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Contacts

Allen Palmiere
Chief Government Officer and President
www.goldresourcecorp.com
303-320-7708

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