GORO · Gold Resource Corporation

Gold Resource Corporation delivered a strong Q1 2026 performance at its Don David Gold Mine in Mexico, achieving net income of $4.7 million or $0.03 per share, a significant turnaround supported by robust production growth. The mine produced and sold 8,749 gold equivalent ounces, comprising 1,548 ounces of gold and 374,232 ounces of silver, alongside increases in copper, lead, and zinc output. This marked a 126% rise in gold production and 54% in silver compared to Q1 2025, driven by 74,444 tonnes milled—a 31% increase—with improved grades including 1.10 g/t gold and 203 g/t silver. Realized prices were strong at $5,098 per gold ounce and $98.09 per silver ounce, though total cash costs reached $2,164 per AuEq ounce and all-in sustaining costs $3,476 per AuEq ounce amid infrastructure investments and drilling. Balance sheet strength is evident with $40.2 million in working capital and $31.0 million in cash as of March 31, 2026. Ongoing drilling at Arista and Alta Gracia veins refined geologic models and supported near-term production planning, with surface expansion testing new targets. President and CEO Allen Palmiere highlighted operational progress, cost and grade control, and focus on shareholder returns. Separately, the definitive merger agreement with Goldgroup Mining Inc., announced January 26, 2026, advances with Mexican antitrust approval on April 27, 2026, and an expected Q3 2026 close, where GORO shareholders receive 1.4476 Goldgroup shares per GORO share post-consolidation, subject to approvals. A conference call is scheduled for May 12, 2026, to discuss results.