Gold-Ore Resources Ltd. is pleased to provide operational highlights for the first quarter of 2010 (three month period ending February 28, 2010) at the 100%-owned Bjorkdal Gold Mine in Sweden. During the period a total of 10,065 ounces of gold were recovered and this marks the second consecutive quarter with greater than 10,000 ounces recovered. Financial results from the first quarter will be released within 45 days.

Glen Dickson, CEO comments "Steady improvements at the mine have generated another strong quarter and all indications are that cash flow and gold production will continue to be strong over the coming quarters. During the next few months the operations team will be testing some new mining methods based on observations made by senior staff at several Canadian underground gold mines. These efforts are designed to reduce dilution, improve grades and gold production and have the potential to make a significant positive impact to the operation".

First Quarter - 3 Months ending February 28, 2010
Tonnes processed 277,952
Daily throughput - tonnes 3,088
Gold recovered - ounces 10,065
- kilograms 313.0
Average plant recovery 89.1%

Gold production during the period was on target at over 40,000 ounces on an annualized basis. Tonnes processed in the plant during the first quarter were impacted by an unusually long cold period in January and February resulting in a daily processing average of 3,088 tonnes per day. With improved weather in late February plant throughput averaged over 3,300 tonnes per day in the first half of March, and represents a 10% increase in tonnes processed and better reflects capacity in the plant.

Stock Options

Gold-Ore Resources Ltd. has granted incentive stock options to directors and employees to purchase up to 1,610,000 common shares at an exercise price of $0.50. These options are exercisable for a period of three to five years. The grant of the stock options is subject to regulatory approval.

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 un-hedged, 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.

source : marketwatch

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