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Gold-Ore Resources Ltd.

Publié le 09 décembre 2009

Fourth Quarter and 2009 Year End Production Results

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Re:       News Release - Wednesday, December 09, 2009
Title:     Gold-Ore Reports Fourth Quarter and 2009 Year End Production Results

Gold--Ore Resources Ltd is pleased to provide Fourth Quarter and 2009 Year End operational highlights for the 100% owned Bjorkdal Gold Mine in Sweden. Production of 10,194 ounces of gold at Bjorkdal in the Fourth Quarter was only slightly less than the record production achieved in the First Quarter 2009 of 10,361 ounces. Production of 37,032 ounces for the 2009 fiscal year was a 32% increase over the production for the 2008 fiscal year of 27,955 ounces, the year that the Company acquired the mine. Audited annual financial statements will be presented by the end of March 2010.

Fourth Quarter and 2009 Year End Operational Results

  Q4 2009 YE 2009
Tonnes processed 290,165 1,061,438
Daily throughput -- tonnes 3,188 2,990
Head grade -- grams/tonne 1.25 1.23
Gold recovered -- ounces 10,194 37,032
-- kilograms 317.1 1,151.8
Average plant recovery 87.1% 88.4%


During November, 3,571 ounces of gold were produced, which equates to an annualized production rate of 42,852 ounces and represents a 17% increase over the average of the previous 11 months' production.

"The improved level of gold production and near record gold price, will have a very positive impacted on our fourth quarter cash flow", states Bob Wasylyshyn, Gold-Ore's president. "We are continually striving to improve head grade of the ore which we anticipate will result in not only increased annual gold production, but also lower operating costs."

2009 Operational Highlights

Operations during 2009 were highlighted by the following achievements:
  • Declared commercial production.
  • Completed a reserve estimate that provides for greater than 4 years mine life.
  • Completed an Open Pit Mine Design and commenced open pit mining in the Southeast Extension.
  • Developed 4,200 metres of underground workings on 4 levels.
  • Produced on average 1,300 tonnes of ore per day from underground.
  • Increased year over year gold production by 32 percent to 37,032 ounces.
  • Discontinued reliance on low grade stockpiles for plant feed.
  • Installed a 30 inch Knelson Concentrator and a new central control system in the plant to improve gold recovery.
  • Drilled 7,216 metres of diamond drill core in 66 holes.
  • Added key mine management personnel.
Gold production at Bjorkdal is achieved by processing ore mined from underground and open pit. In October 2009, Gold-Ore announced a reserve estimate sufficient for a 4 year mine life at current production levels. Underground drilling during 2009 successfully extended the mineralization and is anticipated to more than replace the reserves mined during the year. Plant throughput during the fourth quarter averaged 1,434 tonnes per day from the underground and 1,754 tonnes per day from the open pit. Gold-Ore is now focusing on optimising the head grade from both ore sources.

Quarterly Gold Production Chart


About Gold-Ore

Gold-Ore Resources is a gold mining and exploration company focused in Sweden. The Company is generating positive cash flow, is debt-free and unhedged, and remains focused on increasing gold production from the 100%-owned Bjorkdal Gold Mine. In addition to Bjorkdal, the Company also has other assets in the country; the Ronnberget Gold Property (adjacent to Bjorkdal) and the Norrliden Polymetallic Deposit.

For more information please contact Glen Dickson, Bob Wasylyshyn or Ron Ewing at (604) 687-8884. Gold-Ore's project information is posted on the Company's web site at www.goldoreresources.com


ON BEHALF OF THE BOARD

Robert S. Wasylyshyn, President

The TSX Venture 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 � 2009 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 ..
Message sent on Tue Dec 8, 2009 at 5:28:01 PM Pacific Time

Gold-Ore Resources Ltd.

PRODUCTEUR
CODE : GOZ.TO
ISIN : CA3809811001
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Gold-Ore Res. est une société de production minière d'or basée au Canada.

Gold-Ore Res. est en développement de projets d'or, d'argent, de cuivre, de plomb et de zinc en Suede, et détient divers projets d'exploration en Suede.

Son principal projet en production est BJÖRKDAL en Suede, son principal projet en développement est NORRLIDEN en Suede et ses principaux projets en exploration sont VALLBERGET et RONNBERGET en Suede.

Gold-Ore Res. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 69,2 millions CA$ (67,3 millions US$, 51,1 millions €).

La valeur de son action a atteint son plus bas niveau récent le 23 novembre 2001 à 0,04 CA$, et son plus haut niveau récent le 31 décembre 2010 à 1,14 CA$.

Gold-Ore Res. possède 85 467 000 actions en circulation.

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