Gold-Ore Resources Ltd.

Published : August 13th, 2010

Provides Update On Underground Mining

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Keywords :   Canada | Debt | Gold | Gold Mine | Gold Production | Recovery | Sweden |

News Release - Friday, August 13, 2010
Gold-Ore Provides Update On Underground Mining At Bjorkdal

Vancouver, BC Canada - Gold--Ore Resources Ltd. (the "Company") reports that, as a result of cost cutting initiatives at the Company's Bjorkdal gold mine in Sweden, a new contractor has been selected for the underground drift mining at the mine. The Company elected to replace the current contractor after requesting and receiving several competitive bids for the contract. It is anticipated that this change, along with other initiatives, will help to significantly reduce cash costs at the operation going forward.

Bergteamet AB, the current contractor has given notice that they will be leaving the site by the end of the month. The new contractor will begin mobilizing to site early in September and will be at full production within the fourth quarter. Underground mining as a result will temporarily be interrupted, however, mining in the open pit will continue on schedule. The plant will continue to operate at full capacity of 3,200 tonnes per day by supplementing open pit material with feed from stockpiles. Gold production during the fourth quarter is expected to be reduced from previous quarters as a result of lower grades in the stockpiled material however production is still expected to exceed 8,000 ounces. The financial impact of lower revenues during the quarter will be offset by the significantly lower costs associated with processing stockpile material; the margins per tonne of feed processed from the two sources, underground and stockpile, are comparable. Gold production for the year 2010 is forecasted to exceed 40,000 ounces.

In the new business model for underground mining at Bjorkdal, the Company also plans to assume responsibility for several other services supplied by the previous mining contractor, including underground mine services, trucking (to be supplied by an independent contractor), shotcreting and stoping. Orders have now been placed for several pieces of underground mining equipment. Larger items will be on a lease-purchase basis.

"This is a necessary adjustment to our Bjorkdal operation as we continue to extend the life of the mine", states Gold-Ore's Chairman Glen Dickson. "We expect that making the change to more of an owner-operator business model for the underground mining will help us to achieve our goal of reducing cash costs at Bjorkdal. I would like to thank Bergteamet AB for the contribution they made to establishing underground mining at the Bjorkdal mine and wish them continued success."

About Gold-Ore

Gold-Ore Resources is a gold mining and exploration company currently focused in the Skelleftea mining district in northern Sweden. The Company's primary asset is the Bjorkdal Mine, which is cash flow positive, debt-free and unhedged. In addition to Bjorkdal, the Company also has other assets in the district including the mineral rights to 66 square kilometres around the mine site, where an exploration program is now in progress, as well as the Norrliden Polymetallic Deposit

For more information please contact Glen Dickson, Bob Wasylyshyn or Ron Ewing at (604) 687-8884 or Troy Winsor at 1-800-663-8072. Bjorkdal property information is posted on the Company's web site at www.goldoreresources.com

ON BEHALF OF THE BOARD


Glen Dickson
Chairman


The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Copyright � 2010 GOLD ORE RESOURCES LTD. (GOZ) All rights reserved. For more information visit our website at http://www.goldoreresources.com/ or send email to info@goldoreresources.com ..

Data and Statistics for these countries : Canada | Sweden | All
Gold and Silver Prices for these countries : Canada | Sweden | All

Gold-Ore Resources Ltd.

PRODUCER
CODE : GOZ.TO
ISIN : CA3809811001
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Gold-Ore Res. is a gold producing company based in Canada.

Gold-Ore Res. develops gold, copper, lead, silver and zinc in Sweden, and holds various exploration projects in Sweden.

Its main asset in production is BJÖRKDAL in Sweden, its main asset in development is NORRLIDEN in Sweden and its main exploration properties are RONNBERGET and VALLBERGET in Sweden.

Gold-Ore Res. is listed in Canada. Its market capitalisation is CA$ 69.2 millions as of today (US$ 67.3 millions, € 51.1 millions).

Its stock quote reached its lowest recent point on November 23, 2001 at CA$ 0.04, and its highest recent level on December 31, 2010 at CA$ 1.14.

Gold-Ore Res. has 85 467 000 shares outstanding.

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Annual reports of Gold-Ore Resources Ltd.
2007 Annual Report
Financings of Gold-Ore Resources Ltd.
7/14/2008Closes Private Placement
6/18/2008Announces a Non-Brokered Private Placement for up to $3,000,...
Option Grants of Gold-Ore Resources Ltd.
1/14/2008Appointment of Vice President-Mining, Granting of Stock Opti...
Nominations of Gold-Ore Resources Ltd.
4/19/2011Announces Appointment of New CFO
4/1/2010Appoints Financial Advisor
4/10/2008Appointment of Vice President -- Corporate Affairs
Financials of Gold-Ore Resources Ltd.
10/14/2011Announces Record Earnings for Third Quarter 2011
7/14/2011Announces Earnings of C$3.0 million in Second Quarter, 2011
4/18/2011Announces Earnings of C$1.0 million in First Quarter, 2011
3/1/2011Announces Earnings of C$6.7 million in 2010
7/13/2010Reports Strong Earnings in Second Quarter, 2010
6/17/2010(Björkdal)Reports Record Gold Production in Second Quarter
3/17/2010(Björkdal)First Quarter Operational Results
3/8/2010009 & Fourth Quarter Financial Results
3/9/2009Announces Bjorkdal First Quarter Operational Results
5/6/2008Reports Operational Results for the First Quarter of 2008
Project news of Gold-Ore Resources Ltd.
5/1/2012Elgin Mining and Gold-Ore Resources Announce Results of Shar...
4/12/2012Drills a Significant Extension to the Bjorkdal Gold Mine
6/9/2011(Björkdal)Announces Increased Gold Production in Second Quarter
5/29/2011(Björkdal)Releases Underground Drill Results at Bjorkdal Gold Mine
5/16/2011(Björkdal)Provides Exploration Update
3/15/2011Announces First Quarter Gold Production and 2011 Production ...
8/13/2010(Björkdal)Provides Update On Underground Mining
7/28/2010(Björkdal)Commences Surface Exploration Drilling
6/29/2010(Björkdal)Continues to Extend Mine Life
5/20/2010(Björkdal)Exploration Plans
1/25/2010(Björkdal)Reports Underground Drill Results at Bjorkdal
12/9/2009Fourth Quarter and 2009 Year End Production Results
11/9/2009(Björkdal)Reports Underground Drill Results & Future Drill Plans at Bj...
9/8/2009(Björkdal)Bjorkdal Gold Mine - Underground Drill Results
2/4/2009(Björkdal)Announces Expansion Plans at Bjorkdal Gold Mine
2/4/2009(Björkdal)Gold-Ore Announces Expansion Plans at Bjorkdal Gold Mine
1/14/2009(Björkdal)Announces December Gold Production at Bjorkdal
11/12/2008(Björkdal)Continues to Increase Gold Production at Bjorkdal
6/17/2008(Björkdal)Announces Central Tunnel Drill Results - Bjorkdal, Sweden Ev...
4/9/2008(Björkdal)Bjorkdal Gold Mine, Sweden -- Project Update
3/12/2008(Björkdal)Increase At Bjorkdal Mine, Sweden
1/10/2008(Björkdal)Project Update and 2008 Plans
1/2/2008(Björkdal)Bjorkdal Gold Mine - Purchase Closes
10/1/2007(Björkdal)Swedish Property Acquisition
9/24/2007(Björkdal)Bjorkdal Gold Mine - Central Tunnel Drill Results
7/17/2007(Björkdal)Bjorkdal Gold Mine -- Underground Drill Results
6/18/2007(Björkdal)Independent Feasibility Study at Bjorkdal Gold Mine Underway
5/8/2007(Björkdal)Commencement of Test Mining at Bjorkdal Gold Mine
4/26/2007(Björkdal)Bjorkdal Gold Mine - Additional Drill Results
Corporate news of Gold-Ore Resources Ltd.
4/10/2012Elgin Mining and Gold-Ore Resources Announce Shareholder Mee...
3/27/2012Announces Significant Increase in Proven & Probable Reserve ...
3/13/2012Announces First Quarter Gold Production
3/5/2012Reports Increase in Gold Resource Estimates at Bjorkdal Gold...
2/27/2012Announces Earnings of C$12.3 million in 2011
2/1/2012Elgin Mining and Gold-Ore Resources Announce Merger Creating...
12/17/2011Astur Gold And Gold-Ore Resources Announce $150 Million Merg...
12/14/2011Reports 2011 Year-End and Fourth Quarter Production Results ...
9/14/2011Announces Third Quarter Gold Production
7/13/2010Contracts Windward Agency
5/17/2010Begins Trading on TSX Senior Board
5/10/2010Lists on TSX Senior Board
10/31/20093RD Quarter Financial Statements
2/19/2009Email To Shareholders
1/7/2009Announces Positive Tellurium Metallurgical Studies
5/15/2008Acquires Norrliden Poly-metallic Deposit
11/19/2007Bjorkdal Gold Mine - Exercise of Option to Purchase
11/8/2007Vallberget Property Acquisition - Bergslagen District, Swede...
10/31/2007 3rd Quarter Report for the period ending August 31, 2007
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