GoGold Resources Quarterly Revenue and Cash Flows - ending 31 December 2025

• Quarterly revenue of $31.1 million, a 62% increase over the previous record
• Operating cash flows of $9.7 million, 23% above the prior record
• Net income of $13.3 million for the quarter compared to a loss of $0.1 million in Q1 2024
• Cash position of $245.6 million at quarter end
• Production of 456,179 silver equivalent ounces from the Parral Tailings operation

GoGold Resources (TSX: GGD) is a Canadian-based mining company operating 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. Headquartered in Halifax, Nova Scotia, the company focuses on operating, developing, exploring and acquiring mining projects in Mexico.

Record Quarterly Revenue and Operating Cash Flows

GoGold reported revenue of $31.1 million for the quarter ending 31 December 2025, compared to $19.1 million in the same quarter of 2024. The company sold 486,928 silver equivalent ounces at an average realised price of $63.88 per ounce during the quarter. This average sales price was below current spot prices at the time of reporting.

Operating cash flows reached $9.7 million, up from $7.9 million in the prior year quarter.

President and CEO Brad Langille stated:

"Parral is producing record results for the Company, with record quarterly cash flows and revenues. We generated revenue of $31.1 million in the quarter at an average sales price for the quarter of $63.88 per silver equivalent ounce sold, which is well below current spot price."

Net income for the quarter was $13.3 million, or $0.033 per share, compared to a loss of $0.1 million in the same quarter last year. The Parral operation generated free cash flow of $18.1 million during the quarter. Full-year 2024 net income was $17.3 million.

Production Performance

The Parral Tailings operation processed 431,807 tonnes of material during the quarter, compared to 415,161 tonnes in Q1 2024. Production totalled 456,179 silver equivalent ounces, consisting of 205,104 ounces of silver, 2,914 ounces of gold, 96 tonnes of copper, and 150 tonnes of zinc.

All-in sustaining costs (total production costs including capital expenditure) were $28.45 per silver equivalent ounce, up from $22.45 in the prior year quarter. Cash costs (direct production costs) were $21.45 per ounce, compared to $19.33 in Q1 2024. The company sold 486,928 silver equivalent ounces during the quarter, compared to production of 456,179 ounces.

Cost of sales for the quarter totalled $11.7 million, down from $13.5 million in the same quarter of 2024, despite higher revenue. Operating income was $16.2 million compared to $3.8 million in the prior year period.

Cash Position of $245.6 Million

GoGold reported cash of $245.6 million at 31 December 2025.

President and CEO Brad Langille noted:

"We ended the quarter with $245 million in cash, which has put us in an exceptional position to capitalise on our upcoming Los Ricos build, while we await our final permits."

The company generated operating cash flow of $9.7 million during the quarter, with Parral free cash flow of $18.1 million. The cash balance provides funding capacity for the planned development of the Los Ricos project, which is awaiting final permits.

Next Steps

GoGold continues to operate the Parral Tailings mine while awaiting final permits for the Los Ricos project. The company reported operating cash flows from Parral of $9.7 million for the quarter and maintains a cash position of $245.6 million to fund planned development activities.

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