Parral Reports Annual Production of 2.3M AgEq Oz and Quarterly Production of 526K AgEq Oz

Shares Outstanding: 277,847,367
Trading Symbols: TSX: GGD
OTCQX: GLGDF

HALIFAX, NS, Oct. 6, 2021 /PRNewswire/ – GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") is pleased to report production for the year ending September 30, 2021 of 2,270,073 silver equivalent ounces ("AgEq"), consisting of 1,138,358 silver ounces, 13,447 gold ounces, and 470 tonnes of copper. Quarterly production at Parral was 526,044 silver equivalent ounces, consisting of 221,202 silver ounces, 3,437 gold ounces, and a record 138 tonnes of copper.

"Parral in 2021 proved to be a very stable operation, producing 2.3 million silver equivalent ounces similar to the prior year, and generated in excess of $US 22 million in free cash flow over the year," said Brad Langille, President and CEO. "We believe that the reinvestment of this free cash flow into the Los Ricos project is generating exceptional value growth for our shareholders."

Table 1: Quarterly Production Summary

Quarter Ended

Jun 2020

Sep 2020

Dec 2020

Mar 2021

Jun 2021

Sep 2021

Silver Production (oz)

270,044

300,740

298,591

302,933

315,632

221,202

Gold Production (oz)

1,914

3,414

3,632

3,208

3,170

3,437

Copper Production (tonnes)

104

128

125

86

120

138

Silver Equivalent Production (oz)1

504,444

605,287

614,149

551,207

575,302

526,044

1.

"Silver equivalent production" include gold ounces and copper tons produced and converted to a silver equivalent based on a ratio of the average market metal price for each period. The gold:silver ratio for each of the periods presented was: Jun 2020 – 105, Sep 2020 – 79, Dec 2020 – 76, Mar 2021 – 69, Jun 2021 – 68, Sep 2021 – 73. The copper:silver ratios were: Mar 2020 – 340, June 2020 – 326, Sep 2020 – 274, Dec 2020 – 305, Mar 2021 – 320, June 2021 – 369, Sep 2021 – 383.

Table 2: Annual Production Summary

Quarter Ended

Sep 2019

Sep 2020

Sep 2021

Silver Production (oz)

1,059,438

1,315,661

1,138,358

Gold Production (oz)

9,149

10,089

13,447

Copper Production (tonnes)

260

470

Silver Equivalent Production (oz)1

1,847,835

2,295,416

2,270,073

1.

"Silver equivalent production" include gold ounces and copper tons produced and converted to a silver equivalent based on a ratio of the average market metal price for each period. The gold:silver ratio for each of the periods presented was: Sep 2019 – 86, Sep 2020 – 89, Sep 2021 – 72. The copper:silver ratio for the periods presented was: Sep 2020 – 302, Sep 2021 – 348.

Mr. Robert Harris, P.Eng. is the qualified person as defined by National Instrument 43-101 and is responsible for the technical information of this release.

About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects. For more information visit gogoldresources.com.

CAUTIONARY STATEMENT:
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold's securities in the United States.

This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding production and cash flows of the Parral tailings mine, the ability of GoGold to self fund its ongoing exploration and administrative costs, future operating margins, future production and processing, and future plans and objectives of GoGold, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral project. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.

Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.

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View original content:https://www.prnewswire.com/news-releases/parral-reports-annual-production-of-2-3m-ageq-oz-and-quarterly-production-of-526k-ageq-oz-301393880.html

SOURCE GoGold Resources Inc.

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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