Mr. Brad Langille reports

GOGOLD ADVANCES THE DEVELOPMENT OF THEIR LOS RICOS SOUTH PROJECT

GoGold Resources Inc. has advanced to the execution phase of the Los Ricos South project located in the Jalisco state, Mexico, by launching detailed design activities and initiating the placement of orders for long lead items.

Significant progress has been made to date including:

• Underground Mexican mining contractor selected (Cominvi S.A. de C.V.);
• Detailed underground mine design and planning advanced;
• Detailed plant design by M3 Mexicana S de RL de CV has advanced to 55 per cent complete;
• Detailed SART (sulphidization, acidification, recycling and thickening) plant design has advanced to 70 per cent complete;
• Identified suppliers and preparing to order a new SAG grinding mill in the coming weeks;
• Design of the DSTF (dry stack tailings facilities) has advanced;
• Contract issued for the detailed design of the paste plant;
• All site geotech work to support the design programs has been competed;
• Supply contract reached with the local utility company, Comision Federal de Electricidad (CFE), over project grid power supply from the Yesca Hydro dam. Engineering of the line is in progress with the local electrical company Sistema, and most of the routing will be covered by existing CFE easements/right of ways;
• Water supply assessments, both surface and ground supplies, are well advanced.

"The advancement of the Los Ricos underground project marks an important milestone in the growth of the company," Brad Langille, president and chief executive officer, stated: "The progress to date will ensure a quick launching of site construction once the permit is issued, we are shovel ready. We have assembled a strong Mexican team to construct, commission and ramp up production. With approximately $250-million (U.S.) in the bank and the cash flow that our Parral operation is generating, we look forward to getting under way in Los Ricos to the benefit of the local community and all the stakeholders. We will continue to make substantial investments in the Mexican economy, where 100 per cent of our operations are located."

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

About GoGold Resources Inc.

GoGold Resources (Toronto Stock Exchange: 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 and development 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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