July 1, 2016 F ORWARD L OOKING S TATEMENTS This presentation is to - PowerPoint PPT Presentation

July 1, 2016

F ORWARD L OOKING S TATEMENTS This presentation is to be read in conjunction with the most current 10K available at the Securities & Exchange Commission website www.sec.gov. or www.Goldresourcecorp.com This brochure contains statements that plan for or anticipate the future. Forward-looking statements include statements about the Company's ability to develop and produce gold or other precious metals, statements about our future business plans and strategies, statements about future revenue and the receipt of working capital, and most other statements that are not historical in nature. Forward-looking statements are often identified by words such as "anticipate," "plan," "believe," "expect," "estimate," and the like. Because forward-looking statements involve future risks and uncertainties, there are factors that could cause actual results to differ materially from those expressed or implied, including those described in our filings with the SEC. Prospective investors are urged not to put undue reliance on these forward-looking statements. 2

I NDUSTRY T RANSFORMATION Investor Demands Are Changing the Mining Industry  Dismissing the Concept of “Growth for Growth’s Sake”  Changing to a Return on Capital Investment Standard  Changing allocations of Cash Flow to include Dividends Gold Resource Corporation Welcomes The Change 3

M AXIMIZING S HAREHOLDER V ALUE Shareholder Focused Precious Metal Producer  Delivering a growth profile of low cost, high margin production  Five consecutive years of profitability (2011-2015)  Demanding high returns on owner invested capital  Distributing meaningful monthly dividends to maximize total return to owners 4

C ORPORATE S TRUCTURE Conservative Corporate Structure  Only 54 million shares outstanding as a producer  Last capital raise August 2010, 5 years organic growth  Zero long-term debt 5

T WO M INING U NITS Nevada Mining Unit Exploration Stage Oaxaca Mining Unit Production & Exploration Stage  Focused on the Americas  Mining friendly jurisdictions  High-grade gold & silver potential 6

G ROWTH & I NCOME E QUITY  Growth Equity • ~25 million MC to ~$175 million MC growth (since 2006)  Income Equity • Consecutive monthly dividends (since July 2010) • Currently $0.02 per share/year • $2.10 dividends distributed; 2006 IPO @ $1.00/share • $108 million in dividends returned to shareholders 7

C OMMITTED T O G OLD & S ILVER  Diversified treasury with physical gold & silver • ~$3.4 million of gold and silver bullion  Providing dividend option: cash, gold, silver • Cash: Currently $0.02 / share annually • Gold and Silver option: one ounce .999 fine “GRC Eagles” rounds (shown below) “GRC Eagles” rounds 8

R ETURN O N C APITAL M ETRIC Aguila Project Return on Starting Capital (1 year payback target)  Company operating philosophy established one year return on capital metric  Generate Mine Gross Profit in initial 12 months of commercial production to pay back capital necessary to achieve first production  El Aguila Project generated $36 million Mine Gross Profit in first 12 months on starting capital of $34 million (see Co’s Q2 10Q 2011 filing for details) 9

O AXACA M INING U NIT 6 properties along a 55 kilometer mineralized trend  Mining friendly jurisdiction  6 Potential high-grade Gold & Silver Properties 684 square kilometers •  55 kilometer mineralized structural corridor  Operating mine Property Interest Exploration Development Production Arista underground •    El Aguila 100%   Alta Gracia 100%  Development mine  Las Margaritas 100%  El Chamizo 100% Alta Gracia underground •  El Fuego 100%  10 El Rey 100%

P RODUCTION P ROFILE 2016 TARGET: 26,000 Gold (Au) Ounces, 1,900,000 Silver (Ag) Ounces* Precious Metal Gold Equivalent ( AuEq ) Ounces Ag:Au Ratio Dependent on actual market prices 100000 90,432 Precious Metal (AuEq) oz’s 84,835 83,902 75000 66,159 63,963 50000 Targeting 16.0KozAu 34.4KozAu 33.9KozAu 35.5KozAu 29.6KozAu 26KozAu 2.1MozAg 3.3MozAg 3.0MozAg 3.3MozAg 2.5MozAg 1.9MozAg Q1 2016 25000 6.5KozAu 434KozAg 47.0 Ag:Au 54.1 Ag:Au 57.8 Ag:Au 68.2 Ag:Au 73.1:1 Ag:Au 73.1:1 Ag:Au T/D~619 T/D~773 T/D~866 T/D~1,111 T/D~1,149 T/D~1,301 0 2011 2012 2013 2014 2015 2016 *2016 Annual Production Target Range = +/-5% AuEq= precious metal gold equivalent. T/D=tonnes per day. Mill capacity as built = ~1,500 T/D or ~525K T/YR. 11

P RODUCTION C OSTS Gold Institute Total Cash Cost/Ounce  2015 AuEq Total Cash Cost* $517 $707** 800 *Precious Metal (AuEq) per ounce $517* 600 Total Cash Cost /oz 400 200 0 73:1 Au,Ag GRC Q1-Q3 2015 Industry Avg All-In Sustaining Cost Per AuEq Ounce Sold *** AISC Per AuEq* Ounce Sold $1,208** 1200 Precious metal gold equivalent (AuEq) total cash cost/oz $1,013 • production including 5% royalties using industry standard base metal by-product credits of: Cu, Pb, Zn. Total Cash Cost as 900 defined by The Gold Institute ** Thomson Reuters GFMS’s Gold Survey 2015 600 ***All-in Sustaining cost is a non-GAAP measure. The Company calculates all-in sustaining costs as defined by the World Gold Council 300 guidance - June 2013. This non-GAAP measure is intended to provide further transparency into the costs associated with producing 0 gold. GRC 2015 Industry Avg 73:1 Au,Ag 12

B Y -P RODUCT C REDITS 2015 Base Metal By-Product Credits Base Metal Tonnes By-Product Credit Per Ounce By-Product credit by $ value Copper 1,238 $ 106 $ 6,472,000 Lead 3,857 $ 108 $ 6,627,000 Zinc 11,478 $ 345 $ 21,076,000 $ 559 $ 34,175,000 Total Credit Per AuEq* Ounce Sold *AuEq= Precious Metal Gold Equivalent 13

F INANCIAL P ERFORMANCE Financial Performance 2015 Revenue Distribution U.S. $ M 2013 2014 2015 $59M Sales 126 115 93 (63%) Precious Metals: Gold, Mine Gross Profit 58 51 30 Silver EBITDA 9 31 10 $34M Base Metals: Copper, Operating Income 10 32 13 (37%) Lead, Zinc Net Income 5 15 3 EPS (US$/ share) 0.10 0.28 0.06 Dividend 26 6.5 6.5 5 CONSECUTIVE YEARS OF PROFITABILITY DPS (US$/ share) 0.48 0.12 0.12 4 of which during progressively Retained Earnings (6) 2 (1) worse bear markets Exploration 9 7 7 Cash 15 28 13 Mine Gross Profit: sales – cost of sales EBITDA: Earnings before income tax, depreciation, amortization 14 “DPS” = Dividend per share

G ROWTH El Aguila Mill  Flexible mill design • 2 production circuits  Flotation Circuit • Expanded in 2013 • Nominal ~1,500 tonnes /day  Agitated leach circuit (idle) • Nominal ~300 tonnes /day • Target first mill feed from Alta Gracia Q4 2016/Q1 2017 15

E L A GUILA P ROJECT Arista Underground Mine Santiago Vein Splay 05 ~600 meters Baja Vein Arista Vein 16

E L A GUILA P ROJECT Arista Underground Mine  Epithermal vein system • Intermediate sulfidation  High-Grade gold, silver deposit (polymetallic) • Base metals; copper, lead and zinc  Large • +20 en echelon veins 17

A RISTA M INE ; 2016 TARGETED ORE BLOCKS Arista Vein System Primary Ramp Splay - 05 Santiago L8.5 L13.0 Chuy & Viridiana L18.0 Switchback Vein System L21.0 Splay – 05 Ramp L23.0 Internal SwitchBack Ramp Sabrina Ramp Soledad Baja & Splay-66 Vein 1 & Vein 3

A RISTA M INE 2016 P RODUCTION Net Smelter Return Values Baja Vein Economic Stopes Underground mining methods; Long hole stoping, Cut and fill 19 (Current 2013 Arista mine plan; year-end mine development may vary)

M INERAL R ESERVES & R ESOURCES December 31, 2015 Arista Mine Proven & Probable Reserve Summary Reserve Au Ag AuEq Au Ag AuEq Cu Pb Zn Tonnes Class g/t g/t g/t oz oz oz % % % Proven 1,155,200 2.59 178 5.31 96,100 6,617,700 197,700 0.3 1.3 3.7 Probable 489,300 2.01 124 3.90 31,600 1,952,000 61,400 0.3 1.2 2.9 TOTAL 1,644,500 2.41 162 4.89 127,700 8,569,700 258,500 0.3 1.3 3.5 December 31, 2015 Additional Mineralized Material Summary Mineralized Zone Class Tonnes Au g/t Ag g/t Cu % Pb % Zn % Measured 308,100 1.64 109 0.5 1.6 4.7 Switchback Indicated 326,500 1.59 103 0.4 1.5 4.6 Total 634,600 1.62 106 0.4 1.5 4.7 Measured 118,700 0.55 327 - - - Alta Gracia Indicated 66,400 0.55 312 - - - Total 185,100 0.55 321 Total M&I Mineralized Material 819,700 Breakeven Net Smelter Return (NSR) cutoff grade of $100 tonne applied. AuEq using gold and silver only in AuEq calculation. Metallurgical recovery assumptions of 90% for gold and 93% for silver. Industry guide 7 SEC Proven and Probable Reserve standards SEC guided 3 year trailing average price assumptions per troy ounce; $1,279 gold $19.53 silver. AuEq calculated at 65.5:1 Ag:Au ratio Cu, Pb, Zn not included in AuEq. Base metal revenue used to offset precious metal production costs Full Report located on the Company’s website: www.goldresourcecorp.com/reserve-reports.php ● 3+ year mine life @ 4.89 g/t average AuEq grade ● Arista deposit expansion potential. 20

A RISTA M INE P LAN V IEW Arista Vein System Switchback Vein System N Arista Mine Plan View -Mineralized veins -Past drill holes -Fault -Vein -Mine development 21