Mr. Brad Langille reports

GOGOLD REPORTS PARRAL PRODUCTION FOR QUARTER ENDING JUNE 2023 AND REPORTS ON PLANNED ZINC CIRCUIT

GoGold Resources Inc.'s production for the quarter ending June 30, 2023, was 375,112 silver equivalent ounces, consisting of 203,894 silver ounces, 1,512 gold ounces and 135 tonnes of copper.

Proposed SART (sulphidization, acidification, recycling and thickening) zinc circuit

The company has completed bench scale and in-field heap leach testing that has demonstrated that an addition of a zinc circuit to the SART plant should produce a saleable zinc product and more importantly regenerate cyanide that will greatly increase cash flow at the company's Parral operation over the next seven years of mine life.

Summary of zinc circuit effects:

• Saleable zinc precipitate to be added to the revenue stream;
• Regeneration of approximately 750 tons of cyanide per quarter;
• Anticipated to generate net increased cash flows of $1.5-million per quarter;
• Zinc circuit capital expenditure estimated at $2-million over six-month construction period;
• Project payback expected within six months after construction;
• Construction of zinc circuit is independent of current SART operations, therefore no interruption to current operations is expected;
• Parral up to end of its mine life will be a producer of silver, gold, copper and zinc.

"During the quarter at Parral, we continued with our planned reprocessing of old pad material which resulted in further metal extraction plus reclamation of new pad space which has the benefit of delaying further pad capital expenditure. In addition, we have been working on further optimization of the SART process to generate an additional saleable metal (zinc) and, more importantly, the regeneration and recycling of more cyanide which has the benefit of reducing the volume of fresh cyanide required for purchase. Our expectation is the circuit will generate an additional $1.5-million in cash flows per quarter after the circuit is completed," said Brad Langille, president and chief executive officer. "Our main focus at GoGold is our flagship asset at Los Ricos. With that being said, we are now in our 10th year of production at our Parral operation, with a remaining seven years ahead of us. The addition of a zinc circuit is another way that Parral can remain a meaningful contributor of revenue over its remaining mine life. At Los Ricos South, our next objective is the completion of a revised mineral resource estimate and updated preliminary economic assessment this summer."

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 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, N.S., GoGold is building a portfolio of low-cost, high-margin projects.

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