TIDMHOC 
 
RNS Number : 2854I 
Hochschild Mining PLC 
09 March 2010 
 
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________________________________________________________________________ 
 
9 March 2010 
 
        Hochschild further increases stake in Gold Resource Corporation 
 
   -  Hochschild enters into $5.2 million private placement with GRC, increasing 
ownership to 29% 
 




  -  Purchase of 600,000 GRC shares at $8.6 per share 


 
  -  Transaction demonstrates continued delivery of consolidation 
strategy 
 
Hochschild Mining plc ("Hochschild") is pleased to announce that 
it has entered into a private placement with Gold Resource Corporation ("GRC") 
for a total cash consideration of $5.2 million. Following completion of the 
purchase and purchases undertaken on the open market, Hochschild's ownership in 
GRC will increase from 27% to 29%. 
 
 Since December 2008, Hochschild has 
invested a total of $59.2 million in GRC, a US OTC traded underground precious 
metals mining company with a number of prime development projects in southern 
Mexico. GRC has a current market capitalisation of over $470 million, valuing 
Hochschild's investment at approximately $136 million. 
 
 This additional 
investment increases Hochschild's exposure to GRC's high grade, low cost ounces 
and expands the Company's operational cluster in southern Mexico, a mining 
friendly country with significant mineral potential. It also demonstrates 
Hochschild's commitment and ability to deliver on its strategy following the 
$260 million capital raising undertaken in October 2009, which strengthened the 
Company's balance sheet and provided funds for further acquisition 
opportunities. 
 
 Proceeds will be used at GRC's El Aguila project for 
working capital during mill optimisation, training and continued construction of 
the phase 2 tailings facility. The El Aguila project commenced production in 
February 2010 and is on track to produce 70 thousand ounces of gold in the first 
year of operation (4.2 million silver equivalent ounces). 
 
 Miguel Aramburú, Chief Executive Officer of Hochschild Mining plc, 
commented: 
 
 "We are delighted to announce this transaction which 
demonstrates the continued delivery of our selective M&A strategy following our 
$260 million capital raising in early October 2009. We are extremely impressed 
with the quality of GRC's assets and the speed at which the company is 
progressing towards commercial production which is due to commence this quarter. 
We will continue to evaluate and invest in opportunities which maximise long 
term value for Hochschild's shareholders." 
 
 Gold Resource Corporation's 
president, William W. Reid stated: "As we make the transition to commercial 
production at our El Aguila project, we appreciate the continued operational 
support and financial assistance from Hochschild Mining. 
 
 
 
Enquiries: 
Hochschild Mining plc 
                                               +44 (0)20 7907 2932 
 
Finsbury 
Robin Walker 
                                                  +44 (0)20 7251 3801 
Public Relations 
 
About Hochschild Mining plc: 
Hochschild Mining plc is a leading precious metals company listed on the London 
Stock Exchange (HOCM.L for Reuters / HOC LN for Bloomberg) with a primary focus 
on the exploration, mining, processing and sale of silver and gold. Hochschild 
currently operates four underground epithermal vein mines, three located in 
southern Peru, one in southern Argentina and one open pit mine in northern 
Mexico and numerous long-term prospects throughout the Americas. Hochschild has 
over forty years experience in the mining of precious metal epithermal vein 
deposits.For further information please visit www.hochschildmining.com. 
 
About GRC: 
Gold Resource Corporation is a mining company focused on production and pursuing 
development of gold and silver projects that feature low operating costs and 
produce high returns on capital. The Company has 100% interest in five potential 
high-grade gold and silver properties in Mexico's southern state of Oaxaca. The 
company has 48,700,284 shares outstanding and no warrants. For more information, 
please visit GRC's website, located at www.Goldresourcecorp.com and read the 
Company's 10-K for an understanding of the risk factors involved. 
 
Forward looking statements: 
The statement in this press release relating to the advancement and development 
of Gold Resource Corporation's El Aguila project is a forward looking statement 
within the meaning of securities legislation. The statement is based on the 
public disclosures of Gold Resource Corporation, and is subject to the 
statements by Gold Resource Corporation about such forward looking statements 
and the assumptions and risks associated with it. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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