Mr. Terence Coughlan reports

GOGOLD INCREASED PRODUCTION BY 100% IN THE QUARTER ENDING DECEMBER 2014 - CASH COST OF $6.62 PER SILVER EQ OZ.

GoGold Resources Inc. is providing an update on the commissioning of its Parral tailings project in Mexico. Quarterly production has doubled from 115,667 silver equivalent ounces in the quarter ending Sept. 30, 2014, to 230,240 silver equivalent ounces in the quarter ending Dec. 31, 2014. Cash cost per ounce of silver averaged $5.97 (net of gold credits) and $6.62 per silver equivalent ounce during the quarter ending Dec. 31, 2014. Tonnes stacked on the heap-leach pad increased from 82,264 tonnes in November to 148,347 tonnes in December, which is near the designed stacking rate of 150,000 tonnes per month.

Key metrics have continued to improve, and realized cash costs are significantly lower than those contained in the prefeasibility study (PFS) released on Feb. 21, 2013. Although commissioning had been carried out during one of the most severe rainy seasons in recent history, recovery rates are in line with expectations, and the company expects that as stacking continues at current rates, production will climb to the projected 165,000 silver equivalent ounces per month as indicated in the PFS. However, ore grades for tonnes stacked on the heap-leach pad are currently approximately 20 per cent higher than those in the PFS, which may be reflected in higher future production, as the project continues to ramp up. Recovery rates are in line with expectations during the commissioning phase and, with optimization, continue to climb toward the PFS target. The company expects that Parral will be one of the lower-cost silver producers in Mexico. The attached table outlines the key performance indicators tracked during the last quarter, which are more fully discussed herein.

                                KEY PERFORMANCE INDICATORS

Key performance indicator*                  October   November  December     Quarter

Total tonnes stacked                        104,570     82,264   148,347     335,181
Gold production (ounces)                         75         92        70         237
Silver production (ounces)                   47,160     80,072    85,110     212,342
Silver equivalent production (ounces)***     52,773     87,043    90,424     230,240
Cash costs per silver ounce**               $  6.71    $  6.07   $  5.36     $  5.79
Cash costs per silver equivalent ounce***   $  7.50    $  7.00   $  6.10     $  6.62
Operating costs per tonne stacked           $ 10.38    $ 11.75   $  7.60     $  9.49
Realized silver price                       $ 15.31    $ 15.24   $ 15.52     $ 15.38
Mine site EBITDA                            $81,980   $526,990  $717,787  $1,326,758

*Internal unaudited estimate
**Using gold as a byproduct credit
***Gold is converted using actual realized prices
EBITDA: earnings before interest, taxes, depreciation and amortization

During the month of November, the project went through a number of optimizations to maximize throughput. These optimizations allowed for record agglomerating/stacking in December -- 148,347 tonnes or 4,785 tonnes per day, which is just under the designed run rate for the mine of 5,000 tonnes per day. The operating costs per tonne incurred in December are expected to be consistent with future operating costs.

In addition to stacking at plant design rates in December, the back-end solution flow to the Merrill Crowe facility is also operating at design rates. With stacking onto the heap-leach pad now at design rates, production will continue to increase, as the leach cycle should take 60 to 90 days. Tonnes stacked on the heap-leach pad and solution flow to the Merrill Crowe facility continue to operate at design rates to date in January. For the current zone being processed, the PFS predicted production of 165,000 silver equivalent ounces per month when fully ramped up. The company continues to outperform the PFS with regard to the grade deposited as well as the cost per tonne, as the company moves toward commercial production. The company realized an average price of $15.38 per ounce of silver during the quarter, while the mine generated positive EBITDA (earnings before interest, taxes, depreciation and amortization) of $1,326,758. This emphasizes the robust economics of the Parral project in the current low-metal-price environment.

Terence Coughlan, PGeo, is the qualified person as defined by National Instrument 43-101 and has reviewed the geological information of this release. All dollar figures have been expressed in U.S. dollars.

We seek Safe Harbor.