Gold-Ore Resources Announces Third Quarter Gold Production
Third Quarter 2011 Production
Q3 2011 YTD 2011
Tonnes processed 314,523 902,030
Daily throughput - tonnes 3,419 3,294
Head grade - grams/tonne 1.03 1.18
Gold recovered - ounces 9,302 30,471
- kilograms 289.3 947.8
Average plant recovery 89.1% 88.6%
About Gold-Ore
Gold-Ore Resources is a gold producing company focused in the low political risk jurisdiction of Sweden. The Company's primary asset is the Bjorkdal Gold Mine, which has produced 1,040,000 ounces in the last 23 years of operation. The estimated gold resources from underground and open pit at Bjorkdal are; measured 188,000 ounces (2.3 million tonnes grading 2.56 g/t); and indicated 732,000 ounce (14.2 million tonnes grading 1.6 g/t). Drilling is expanding the resources indicating a long mine life at current gold prices. The Company has a strong balance sheet, generates significant cash flow from gold sales, and remains un-hedged. Gold-Ore has maintained a good capital structure, with only 85.0 million shares issued (90.9 million fully diluted).
For more information please contact the Company 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.goldore.ca
ON BEHALF OF THE BOARD
Robert Wasylyshyn
President
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.