TIDMHOC 
 
RNS Number : 6096M 
Hochschild Mining PLC 
26 May 2010 
 
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________________________________________________________________________ 
 
26 May 2010 
 
         Hochschild acquires further stake in Gold Resource Corporation 
 
   -  Hochschild enters into $6.0 million private placement with GRC, increasing 
ownership to 30%* 
 




  -  Purchase of 631,579 GRC shares at $9.5 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 $6.0 million or $9.5 per share. Following completion of the 
purchase, Hochschild's ownership in GRC will increase from 29% to 
30%*. 
 
 To date, Hochschild has invested a total of $69.5 million in GRC, a 
US OTC traded underground precious metals mining company with a number of high 
grade, low cost development projects in southern Mexico. GRC has a current 
market capitalisation of over $500 million, valuing Hochschild's investment at 
approximately $150 million. The company's key project, El Aguila, is due to 
commence commercial production in the first half of 2010 with a target of 70 
thousand ounces of gold (4.2 million silver equivalent ounces) in the first 
twelve months of operation. 
 
 GRC will use the proceeds of the private 
placement for working capital and continued construction of the phase two 
tailings impoundment as it moves towards commercial production at El Aguila. The 
company sold its initial gold and silver concentrates in April 2010 and 
subsequent concentrate sales have been made from low-grade ore processed during 
the El Aguila mill startup and commissioning. Following good progress at the 
mill, management has now switched to processing its targeted average grade ore 
as it moves towards declaring commercial production. 
 
 Ignacio Bustamante, Chief Executive Officer of Hochschild Mining plc, 
commented: 
 
 "We are extremely impressed with the quality of GRC's project 
portfolio and the fact that the company is progressing towards commercial 
production at its El Aguila operation, which is expected in the first half of 
this year. We continue to execute our three-part strategy which is focused on 
maximising life of mine and profitability at existing operations, delivering 
growth through our extensive exploration programme and adding to production 
through selective acquisitions." 
 
William W. Reid, President of Gold 
Resource Corporation stated, "We are pleased that Hochschild is supporting our 
need for working capital as we make the transition to commercial production at 
the El Aguila project. We are making excellent progress and remain on track to 
achieve our production target of 70,000 ounces of gold in the first 12 months of 
commercial production." 
 
*On an outstanding basis 
___________________________________________________________________________ 
 
Enquiries: 
Hochschild Mining plc 
 
Isabel Lütgendorf 
              +44 (0)20 7907 2934 
Head of Investor Relations 
 
Finsbury 
Faeth Birch 
                   +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 / HOC LN) with a primary focus on the exploration, 
mining, processing and sale of silver and gold. Hochschild has over forty years' 
experience in the mining of precious metal epithermal vein deposits and 
currently operates four underground epithermal vein mines, three located in 
southern Peru, one in southern Argentina and one open pit mine in northern 
Mexico. Hochschild also has numerous long-term prospects throughout the 
Americas. 
 
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 49,331,863 shares outstanding and no warrants.  For 
more information, please visit GRC's website, located at 
www.Goldresourcecorp.comand read the Company's 10-K for an understanding of the 
risk factors involved. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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