Gold-Ore Reports 2011 Year-End and Fourth Quarter Production Results - Record Monthly Gold Production in November

VANCOUVER, British Columbia--(BUSINESS WIRE)--Gold–Ore Resources Ltd. (TSX: GOZ) is reporting Fourth Quarter and 2011 Year End operational highlights for the 100% owned Bjorkdal Gold Mine in Sweden. The mine produced 40,338 ounces of gold during the 2011 fiscal year. Audited annual financial statements will be presented by the end of February 2012.

“Gold production is anticipated to increase in 2012 due to plant improvements and increased mining rates underground”

Fourth Quarter and 2011 Year End Operational Results

	Q4 2011		YE 2011
Tonnes processed	312,985		1,215,015
Daily throughput – tonnes	3,439		3,329
Head grade – grams/tonne	1.10		1.16
Gold recovered – ounces	9,867		40,338
– kilograms	306.9		1,254.7
Average plant recovery	88.7	%	88.6	%

2011 Operational Highlights

Produced 40,338 ounces of gold (1,254.7 kilograms)
Record monthly gold production of 4,363 ounces in November
Completed 5,220 metres of underground development in 2011
Continued purchasing heavy machinery to reduce reliance on contractors and transition towards owner-operator status
Successfully implemented several cost reduction initiatives
Continued to expand resources and replace mined reserves

“Gold production is anticipated to increase in 2012 due to plant improvements and increased mining rates underground,” stated Bob Wasylyshyn, Gold-Ore’s president. “Recent adjustments in the plant have increased our daily processing rate by 10%. We are currently running at 3,500 tonnes per day and plan to maintain this rate. Our underground mining rates have suffered from machinery availability and, during the last few months, three pieces of heavy machinery were ordered or delivered. In February we will take receipt of a new LHD mucker and an explosives loading unit, which will increase our tonnes produced from underground.”

During November the mine produced 4,363 ounces of gold and set a new monthly record surpassing the previous record of 4,208 ounces set in May, 2011. This was a result of above average grades encountered in the open pit and increased plant throughput.

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 1,050,000 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 ounces (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 85.4 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

The Company’s financial statements and management’s discussion and analysis are available at www.sedar.com and on the Company’s website 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.