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Gold Resource Corp Appoints New COO

Gold Resource Corp. (AMEX:GORO) said Monday that it has hired mining engineer Rick Irvine as the company's new chief operating officer as it seeks to advance its Mexican operations.

Under his new role, Irvine will help develop the company's Mexican operations and as well as projects outside Mexico.

Once in Mexico, he will aid country manager Juan Manuel Flores to continue development of the company's El Aguila project, and to advance the Oaxaca mining unit's additional properties.

With more than 22 years of industry experience, Irvine holds a bachelor of science in geology and a bachelor of science in mining engineering from the University of New Brunswick and from Queen's University in Ontario, respectively.

He has also worked in countries like Canada, Mexico and Central and South America. In the past six years, Irvine has helped start-up three new mining operations in Bolivia, Argentina and Mexico.

"We are pleased to welcome Rick to the company," Gold Resources president said in a statement Monday.

"Rick brings a wealth of experience uniquely matched to our goal to grow the company's current operations in Mexico and globally."

Last week, Gold Resource reported record annual results, with 2011 marking its first full year of production from its El Aguila operations in Oaxaca, Mexico.

The gold company, which began commercial production from its El Aguila project in Oaxaca, Mexico in July 2010, posted net income of $58.37 million, or $1.10 per share in the year to December 31, 2011, versus a loss of $23.07 million, or 46 cents per share in 2010.

El Aguila is located 120 kilometres southeast of the state capital city of Oaxaca, Mexico and has yielded several strong metal samples, including 36.0 grams per tonne (g/t) gold, and 3,100 g/t silver.

Gold Resource Corp. is a low cost gold producer focused on pursuing development of gold and silver projects.

The company has a majority stake in six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca.