Gold Resource Corporation Acquires East Camp Douglas Gold Property

COLORADO SPRINGS, CO – Gold Resource Corporation reported the purchase of the East Camp Douglas gold property located in Mineral County, Nevada from Diversified Inholdings, LLC. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. 

The East Camp Douglas property covers an area of approximately 5,300 acres consisting of 277 unpatented claims, 12 patented claims and an additional 200 acres of fee lands in Mineral County, Nevada. The property is located approximately 14 miles southeast of the Company’s Gold Mesa property (see map) and will be added to the Company’s Nevada Mining Unit. Gold Resource Corporation’s Nevada Mining Unit now controls approximately 27,300 acres of development and exploration lands in south central Nevada’s Walker Lane Mineral Belt.

The Company acquired 100% of the East Camp Douglas property from Diversified Inholdings, LLC for US$2,000,000, which consisted of shares of restricted common stock valued at US$1,000,000 and cash of US$1,000,000. Diversified Inholdings, LLC retained a net smelter return royalty (NSR) of 3% on unpatented claims and fee lands and 1% on patented claims. The patented claims have an existing 2% NSR to an unrelated third party.

East Camp Douglas is situated along strong structural controls and alignments within the Walker Lane mineral belt, which hosts numerous significant epithermal gold and silver deposits such as Paradise Peak, Borealis, Bodie, Goldfield and Tonopah. Precious metal epithermal mineralization at East Camp Douglas occurs as both widespread high sulfidation alteration areas and low sulfidation veins.