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GoGold Resources Inc
Symbol GGD
Shares Issued 171,776,481
Close 2018-07-16 C$ 0.425
Market Cap C$ 73,005,004
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GoGold sells 382,150 AgEq oz in June 30 quarter

2018-07-17 10:13 ET - News Release

Mr. Brad Langille reports

GOGOLD REPORTS PARRAL PRODUCTION AND SALES FOR QUARTER ENDING JUNE 30, 2018

GoGold Resources Inc. had sales of 382,150 silver equivalent ounces for the quarter ended June 30, 2018, which was an increase of 34 per cent over the previous year. The company produced 163,991 ounces of silver and 1,630 ounces of gold for 292,273 silver equivalent ounces at the Parral project during the quarter, a 2-per-cent decrease from the prior year.

During the quarter, the company began irrigating the second lift on a non-compacted first lift to test whether compaction of the first lift is required. The results of this test concluded that compaction of the first lift will be required as without compaction, there is a delay in the recovery of metal from the material processed above on the second lift. The first lift will now be compacted with drainage pipes on top before the second lift is placed. This will replicate single lift leaching, which has been proven to perform well.

"It was necessary to complete this test to determine if compaction of the first lift was required. The results indicated that compaction is required and this affected production this quarter. Now that we are stacking on the first lift again the heap is performing well," said Brad Langille, president and chief executive officer.

The company stacked a total of 447,193 tonnes of material during the quarter, an average of 4,914 per day, of which the majority were fresh tailings. This is an increase of 24 per cent over the average stacking rate from the previous year and was the result, in part, of the purchase and application of a new stacker.

In June, the company returned to stacking on the first lift, with recovery beginning very quickly as had been previously experienced. The company will continue stacking on the first lift or above a compacted lower lift with additional drainage between lifts in the future, which will cause production to increase back to normal levels.

The commissioning of the SART (sulphidization, acidification, recycling and thickening) plant at Parral has been delayed as more filtration was required to achieve throughput targets. The additional filter was purchased and delivered to site and will be installed during the current quarter. Once the current bottlenecks are worked out, the SART will reduce cyanide consumption and generate a saleable copper sulphide product that will contribute to revenue and cost savings.

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

About GoGold Resources Inc.

GoGold Resources is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high-quality projects in Mexico. The company's Parral Tailings project is one of the lowest cash cost silver producers in the world. Headquartered in Halifax, N.S., GoGold is building a portfolio of low-cost, high-margin projects.

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