Halifax, NS – GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) (“GoGold”, “the Company”) is pleased
to announce the financial results for the year ending September 30, 2022, with Parral generating $36
million (all amounts are in U.S. dollars) from the sale of 1.7 million silver equivalent ounces.
“As we look forwards towards 2023 and the opportunity for value creation at Los Ricos, it cannot be
understated what great position the Company is in with such a strong balance sheet. That, and the effects
an increasing commodity price will have on Parral cash flows will allow us to fully take advantage of the
opportunities that Los Ricos presents,” said Brad Langille, President and CEO. “We believe 2023 at Los
Ricos will be a year of increasing resources, advancing economic studies in Los Ricos South with the
inclusion of the recently acquired Eagle concession, and a first look at economics in Los Ricos North with
an upcoming Preliminary Economic Assessment (“PEA”). We expect the year ahead will be strong in value
creation for GoGold.”
The Company’s strong balance sheet, which includes $73.3 million of cash and no debt, provides the
resources for management to execute on the Los Ricos projects. The Company drilled 26,348 metres for
the quarter ended September 30, 2022 (“Q4-22”) and 90,042 metres for the year then ended. The majority
of the drilling in Q4-22 was on the Company’s newly acquired Eagle concession, which has produced some
of the strongest results to date in the Los Ricos district. The Eagle covers the northern strike extension of
the Main Deposit on the Los Ricos South (“LRS”) property. This represents an extension to the previously
defined Mineral Resource Estimate at LRS, upon which the January 20, 2021 PEA was released.
Highlights for the year ending September 30, 2022:
• Cash of $73.3 million USD
• Revenue of $36.1 million on the sale of 1,721,977 silver equivalent ounces at a realized price per
ounce of $20.94 per oz
• Collected $12.3 million USD input tax recoverable relating to VAT receivable from the Mexican
Federal Government, including $5.1 million in interest
• Production of 1,810,326 silver equivalent ounces, consisting of 741,772 silver ounces, 10,708 gold
ounces, and 469 copper tonnes
• Adjusted cash cost per silver equivalent ounce of $13.35
• Adjusted all in sustaining cost per silver equivalent ounce of $18.36

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