GoGold Reports Doubled Revenue and $240 Million Cash Position

• Revenue of $72.5 million from the sale of 2.1 million silver equivalent ounces during the year ending September 30, 2025, compared to $36.5 million in the prior year.
• Net income of $17.3 million, compared to $1.6 million in the previous year, with cash flow from operations of $25.7 million.
• Cash position of over $240 million USD with no debt following completion of a $143 million CAD financing in November 2025.
• Average realised silver price of $33.80 per ounce during the year, compared to $25.95 per ounce in the prior year.
• Production of 2,150,192 silver equivalent ounces with adjusted cash costs of $18.35 per ounce and all in sustaining costs of $23.72 per ounce.

GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer with operations and projects in Mexico. The company operates the Parral Tailings mine in Chihuahua state and is developing the Los Ricos South and Los Ricos North projects in Jalisco state. Based in Halifax, Nova Scotia, the company focuses on operating and developing projects in Mexico. The feasibility study for Los Ricos South estimates capital costs of $227 million for construction.

Record Financial Results and Production Performance at Parral

The Parral Tailings operation generated revenue of $72.5 million during the fiscal year ending September 30, 2025, compared to $36.5 million in the prior year. The mine processed 1,612,142 tonnes of material and produced 851,102 ounces of silver, 12,289 ounces of gold, 476 tonnes of copper and 609 tonnes of zinc. The operation reported adjusted cash costs of $18.35 per silver equivalent ounce.

Operating income increased to $17.1 million from $5.6 million in the previous year. The adjusted all in sustaining cost per silver equivalent ounce was $23.72, compared to $24.15 in the prior year. All in sustaining costs include direct operating expenses, corporate costs, exploration spending and sustaining capital investments.

Cash flow from operations was $25.7 million, compared to negative $11.3 million in the previous year. The fourth quarter reported net income of $5.9 million compared to $719,000 in the same period of the prior year. Cost of sales, including depreciation, totalled $44.0 million for the year.

Cash Position and Los Ricos Development Funding

GoGold holds over $240 million USD in cash with no debt following the completion of a $143 million CAD bought deal financing in November 2025. The feasibility study for Los Ricos South estimates capital costs of $227 million for construction.

President and CEO Brad Langille stated:

"With our $143 million CAD bought deal financing completed last month, we currently have over $240 million USD in cash, and no debt."

The company's balance sheet provides funding for Los Ricos South construction.

Mr Langille noted:

"With our strong balance sheet, and our feasibility study estimating capital costs of $227 million for the construction of Los Ricos South, we are substantially derisked for the execution phase of the project in 2026."

The company plans to advance Los Ricos North alongside the construction of Los Ricos South.

Mr Langille commented:

"Another substantial advantage for our Company is the flexibility to aggressively advance Los Ricos North towards feasibility and permitting as we are constructing the South."

Silver Price Realisation and Revenue Trends

GoGold realised an average silver price of $33.80 per ounce during fiscal 2025, compared to $25.95 per ounce in the prior year. The fourth quarter showed realised silver prices of $41.55 per ounce, compared to $28.64 per ounce in the fourth quarter of fiscal 2024. Revenue in the fourth quarter was $18.1 million compared to $10.4 million in the same period last year.

The company sold 2,144,938 silver equivalent ounces during the year, compared to 1,406,660 ounces in the prior year. Current spot silver prices are trading above $55 per ounce.

Mr Langille stated:

"In 2025, we realized a silver selling price of $33/oz, so with silver prices currently above $55/oz the outlook for 2026 is very strong."

At current silver prices above $55 per ounce and the reported all in sustaining costs of $23.72 per ounce, the operation would generate margins exceeding $31 per ounce. The company processed 416,560 tonnes in the fourth quarter compared to 363,695 tonnes in the prior year fourth quarter.

Development Timeline and Next Steps

GoGold plans to begin the execution phase of Los Ricos South construction in 2026. The company also intends to advance Los Ricos North through feasibility studies and permitting processes during the same period. Parral operations continue with 2,150,192 silver equivalent ounces produced in fiscal 2025.

The financial statements for the year ended September 30, 2025, management's discussion and analysis, and the annual information form have been filed on SEDAR and are available on the company's website. The company operates the Parral mine in Chihuahua and holds the Los Ricos projects in Jalisco, both located in Mexico.

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