GoGold Reports High-Grade Drilling Results at Los Ricos South

• Drill hole intercepted 41,110 g/t silver equivalent over 1.42m from the Eagle Zone
• Exploration drilling extended mineralisation 250m below current feasibility study stope designs
• Results identified mineralised extensions 150m south of historical mining areas
• Drilling programme tested 3.5km strike length from Los Llamas to Cerro Colorado zones
• Geotechnical holes confirmed high-grade zones within current resource boundaries

GoGold Resources Inc. (TSX:GGD) is a Canadian-based silver and gold producer and developer operating primarily in Mexico. The Halifax-based company operates the Parral Tailings mine in Chihuahua state and holds the Los Ricos South and Los Ricos North projects in Jalisco state. Los Ricos South completed a feasibility study in January 2025 showing an NPV of US$355 million.

Los Ricos North holds an indicated mineral resource of 87.8 million ounces silver equivalent grading 122 g/t contained in 22.3 million tonnes, with an inferred resource of 73.2 million ounces silver equivalent. A preliminary economic assessment completed in May 2023 indicated an NPV of US$413 million.

Near-Mine Exploration Drilling Results

The 2025 exploration programme targeted areas deeper than current resources and south of existing resource boundaries. Hole LRGG-24-318 returned 904 g/t silver equivalent over 0.75m within a 10.72m interval grading 215 g/t silver equivalent in the Abra Zone. This intersection occurred 250m down-dip from the deepest planned stopes in the feasibility study.

Hole LRGG-25-324 intercepted 1,034 g/t silver equivalent over 1.39m within a 23.05m interval grading 234 g/t silver equivalent in the South Abra Zone. This result extended the Abra Zone 150m south of previous mining activity. The drilling identified a 500m gap between this southern extension and the Los Llamas Zone that remains untested.

Hole LRGG-25-337 returned 849 g/t silver equivalent over 1.50m within a 9.45m interval grading 303 g/t silver equivalent in the Cerro Colorado Zone. The company completed 39 drill holes totalling approximately 12,000m during the programme, with 27 holes designated for exploration purposes.

Geotechnical Drilling Programme & Resource Confirmation

GoGold completed geotechnical drilling based on recommendations from WSP, the consulting firm retained for the 2024 feasibility study. These holes provided data for proposed open pit and underground mine plans whilst confirming mineralisation within current resource boundaries. The geotechnical holes were drilled after publication of the January 2025 mineral resource estimate.

Hole LRSGT-23-001 returned 41,110 g/t silver equivalent over 1.42m, consisting of 28,094 g/t silver and 173.6 g/t gold. This high-grade interval occurred within a 21.25m section grading 3,034 g/t silver equivalent consisting of 2,077 g/t silver and 12.76 g/t gold in the Eagle Zone.

Additional geotechnical holes confirmed the presence of the high-grade Eagle and Abra zones across multiple locations. Hole GT-PFS-23-004 intersected 4,301 g/t silver equivalent over 1.60m within a 32.10m interval grading 531 g/t silver equivalent. These results were not included in the January 2025 mineral resource estimate.

Technical Methodology & Quality Assurance

GoGold follows standard diamond drilling procedures using HQ-size core. Core samples undergo geological logging and photography before half-core sampling. Sample preparation and analysis occurs at ALS Chemex facilities in Zacatecas, Mexico, using fire assay methods for gold and total digestion techniques for silver analysis.

The company implements quality control procedures including certified reference materials, blanks, and duplicate samples throughout the analytical process. All assay results pass through established QA/QC protocols before reporting. David R. Duncan, Vice President of Exploration and qualified person under National Instrument 43-101, reviewed the technical information.

The exploration programme incorporated induced polarisation geophysical surveys extending coverage south of the El Abra deposit. The combined 2022 and 2025 IP surveys provide continuous coverage along the El Abra structure over a 7km strike length, supporting systematic drill targeting based on geological and geophysical data.

Next Steps

GoGold plans to continue drilling the untested 500m corridor between the newly identified southern extensions and the Los Llamas Zone. The company will evaluate incorporating the new drilling results into future resource updates. The exploration programme aims to test the complete 3.5km strike length between Los Llamas and Cerro Colorado zones to determine the full extent of mineralisation beyond current resource boundaries.