FOR IMMEDIATE RELEASE NEWS JANUARY 29, 2007 OTCBB: GORO

GOLD RESOURCE CORPORATION ANNOUNCES CONTINUED HIGH-GRADE DRILL INTERCEPTS, INCLUDING 49 FEET OF 0.20 oz/ton GOLD EQUIVALENT AT EL AGUILA PROJECT, MEXICO

DENVER – January 29, 2007 – Gold Resource Corporation (GRC) (OTCBB: GORO) announced today more high-grade drill results from its El Aguila gold and silver project in the state of Oaxaca, Mexico. Recent highlights include:

 Hole 606, (90 deg, at 21 meters), 15 meters of 5.60 g/t gold and 59.7 g/t silver (or a gold equivalent value of 0.20 oz/ton)

 Hole 607, (90 deg, at 40 meters), 3 meters of 5.50 g/t gold and 41.1 g/t silver (or a gold equivalent value of 0.19 oz/ton)

 Hole 608, (90 deg, at 46 meters), 2 meters of 3.80 g/t gold and 33.6 g/t silver (or a gold equivalent value of 0.13 oz/ton)

 Hole 611, (80 deg, at 47 meters), 4 meters of 3.90 g/t gold and 77.5 g/t silver (or a gold equivalent value of 0.17 oz/ton)

William W. Reid, president of GRC stated, “We are pleased with the continued quality results coming from mostly step-out drilling. Hole 606 (an in-fill hole) intercepting 49 feet of 0.20 oz/ton gold equivalent is particularly consistent and conforms to our previously drilled mineralization.”

“ The El Aguila mineralization is high-grade for a shallow open pit and taken together with its excellent metallurgical recovery of 94% for gold and 90% for silver (at 100 mesh grind with 72 hours of leaching) is the reason our independent Scoping Study (completed in 2004 by Lyntek, Inc. of Denver) estimated cash operating costs at +/- $100/oz gold.” said Mr. Reid.

The following table details the first 12 drill holes of GRC’s 2006 - 2007 third drill program highlights:

El Aguila Project 2006 - 2007 Core Drill Results Drill Highlights Metric Imperial Drill Hole From To Interval Gold Silver Au Eq. Interval Au Eq. (m) (m) (m) (g/t) (g/t) (g/t)* (feet) oz/ton 601 31 36 5 0.82 72.2 2.5 16.4 0.07 602 27 28 1 1.22 20.2 1.7 3.3 0.05 603 38 41 3 1.22 34.6 2.0 9.8 0.06 603 45 51 6 3.65 231.7 9.0 19.7 0.26 including 47 50 3 5.54 404.3 14.9 9.8 0.44 604 29 31 2 5.49 180.3 9.7 6.6 0.28 605 35 41 6 0.81 90.1 2.9 19.7 0.08 606 21 36 15 5.60 59.7 7.0 49.2 0.20 607 40 43 3 5.50 41.1 6.5 9.8 0.19 608 46 48 2 3.80 33.6 4.6 6.6 0.13 609 55 56 1 0.75 17.4 1.2 3.3 0.03 610 Assays Pending 611 47 66 19 1.45 22.2 2.0 62.3 0.06 including 47 51 4 3.90 77.5 5.7 13.1 0.17 612 69 71 2 3.55 45.6 4.6 6.6 0.14 612 78 79 1 0.04 354.0 8.3 3.3 0.24 613 89 90 1 0.05 97.4 2.3 3.3 0.07 *Gold equivalent grade assumes 43:1 silver to gold ratio

These results are for the first 12 holes drilled with one drill rig on site prior to the holiday break. Drilling has now resumed (mid January) and will continue with two drill rigs. Mr. Reid stated, “Though over one hundred holes are scheduled to be drilled during the next 6 months, these continued high-grade results move us closer to a production decision targeted by the end of the first quarter of this year.”

About GRC GRC is a production-focused mining company pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company is specifically focused on three potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca. For more information, please visit GRC’s website, located at www.Goldresourcecorp.com.

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 "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 GRC’s strategy, future production, future expenses and future liquidity and capital resources. All forward-looking statements in this press release are based upon information available to GRC on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. The Company's actual results could differ materially from those discussed in this press release. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company’s Form SB-2 filed with the Securities and Exchange Commission.

Contacts: William W. Reid, President Andrew J. Barwicki Gold Resource Corporation Investor Relations 303-320-7708 516-662-9461