GoGold Resources Achieves 45% Production Growth in Fiscal 2025

• Production reached 2.15 million silver equivalent ounces for the year ending September 30, 2025, a 45% increase from 1.48 million ounces in fiscal 2024.
• Silver production increased 54% to 851,102 ounces, gold production rose 41% to 12,289 ounces, copper output was 476 tonnes, and zinc production reached 609 tonnes.
• Cash balance stood at $141 million USD at year end.
• December 2024 quarter marked production inflection with 551,337 silver equivalent ounces, representing 38% sequential growth.
• The company indicated it is approaching the execution phase at Los Ricos South whilst advancing Los Ricos North.

GoGold Resources (TSX: GGD) is a Canada-based mining company that operates the Parral Tailings mine in Chihuahua state, Mexico, where it processes historical mine tailings to recover silver, gold, copper and zinc. The company also holds two projects in development stage: Los Ricos South and Los Ricos North, both located in Jalisco state. Headquartered in Halifax, Nova Scotia, GoGold focuses on operating and developing projects in Mexico.

Annual Production Increase and Metal Output

GoGold reported fiscal 2025 production of 2.15 million silver equivalent ounces, compared to 1.48 million ounces in fiscal 2024. Silver production totalled 851,102 ounces, up from 553,381 ounces the previous year. Gold production increased to 12,289 ounces from 8,700 ounces, whilst copper output rose to 476 tonnes from 468 tonnes.

Zinc production nearly doubled to 609 tonnes from 316 tonnes in the prior year. The fiscal 2025 production represents the highest annual output since fiscal 2021, when the company produced 2.27 million silver equivalent ounces. Production levels had declined in fiscal years 2022 through 2024 before the current year's increase.

Quarterly production showed progression throughout the year. The December 2024 quarter produced 551,337 silver equivalent ounces, up 38% from the September 2024 quarter's 406,150 ounces. Production remained relatively stable through March and June 2025 quarters at approximately 555,000 ounces each, before the September 2025 quarter recorded 487,876 ounces.

Financial Position and Cash Flow from Parral Operations

The company reported a cash balance of $141 million USD at fiscal year end.

President and CEO Brad Langille stated that:

"Parral delivered an excellent year for the Company, with production up 45% from 2024 to 2025. Through the year it provided excellent cash flow, which continues to improve with the increase in metal prices."

Langille added that:

"Our very strong balance sheet, which includes a cash balance of $141 million USD at year end, together with the continued robust Parral cash flow has put us in an excellent position for our upcoming mine build."

Metal price movements during fiscal 2025 affected the conversion ratios used to calculate silver equivalent production. The gold to silver ratio averaged 90 for the full fiscal year 2025, compared to 88 in fiscal 2024. The copper to silver ratio averaged 296 in fiscal 2025 versus 345 in the prior year, whilst the zinc to silver ratio was 85 compared to 99.

Strategic Positioning for Los Ricos Mine Development

GoGold indicated it is approaching the execution phase at Los Ricos South.

Langille stated,

"It also provides flexibility to advance Los Ricos North and explore around our mine reserves as we approach the execution phase at Los Ricos South."

The Los Ricos South and Los Ricos North projects are both located in Jalisco state. The company characterises these as exploration and development projects. No specific timeline for construction commencement at Los Ricos South was provided in the production update.

Conclusion

GoGold Resources reported fiscal 2025 production of 2.15 million silver equivalent ounces, representing a 45% increase from the prior year. The company's cash position of $141 million USD and ongoing Parral cash generation support its stated plans to advance Los Ricos South towards construction whilst continuing work at Los Ricos North. The production increase was driven by higher output across all four metals: silver, gold, copper and zinc.

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