GoGold Resources Reports Q1 2026 Production and Record Cash Flow from Parral Operations

• Q1 2026 production of 456,179 silver equivalent ounces from Parral mine, consisting of 205,104 silver ounces, 2,914 gold ounces, 96 tonnes copper, and 150 tonnes zinc
• Gold production increased 8% quarter-over-quarter while silver production decreased 3%
• Parral operations generated record quarterly cash flow
• Cash position of $245 million USD supports upcoming Los Ricos South mine construction
• Final environmental permit pending for Los Ricos South, with detailed engineering nearing completion

GoGold Resources (TSX:GGD) is a Canadian-based silver and gold producer operating the Parral Tailings mine in Chihuahua state, Mexico. The company is developing the Los Ricos South and Los Ricos North projects in Jalisco state. Headquartered in Halifax, Nova Scotia, GoGold focuses on projects in Mexico.

Q1 2026 PARRAL Production RESULTS AND CASH FLOW

GoGold reported first quarter production for the period ending December 31, 2025 of 456,179 silver equivalent ounces. This consisted of 205,104 ounces of silver, 2,914 ounces of gold, 96 tonnes of copper, and 150 tonnes of zinc. Gold production rose approximately 8% from the previous quarter, while silver production declined 3%.

The silver equivalent production figure of 456,179 ounces is lower than the prior quarter's 487,876 ounces, reflecting changes in metal price ratios used for conversion. The gold to silver ratio decreased from 88:1 in September 2025 to 76:1 in December 2025. This means each ounce of gold converted to fewer silver equivalent ounces despite actual gold production increasing.

Parral generated record cash flow during the quarter.

President and CEO Brad Langille stated:

"Parral had an excellent quarter for the company, generating record cash flows. Current market silver and gold prices have substantially increased since the end of December."

The lower silver equivalent production figure does not reflect the operational cash generation, which benefited from metal prices that have risen since quarter end.

Cash Position And Financial Status

GoGold holds $245 million USD in cash. This balance, combined with operating cash flow from Parral, provides capital for the Los Ricos South mine construction. The company will fund its development activities from existing cash rather than requiring additional financing.

President and CEO Brad Langille noted:

"Our very strong balance sheet, which includes a cash balance of $245 million USD, together with our record Parral cash flow has put us in an excellent position for our upcoming mine build."

The cash position eliminates near-term financing requirements as the company advances Los Ricos South.

The financial position allows GoGold to proceed with mine development on its own timeline. Management can order equipment and begin construction once permits are secured without requiring external capital.

Los Ricos South Development Status

Los Ricos South is awaiting its final environmental permit. Detailed engineering work is progressing while the company waits for this approval.

President and CEO Brad Langille stated:

"As we await the final environmental permit at Los Ricos South, we are completing detailed engineering work and anticipate over the coming weeks to be in a position to place orders for long lead time items."

The company plans to order long lead time equipment items before formal permit approval. These items typically include processing equipment and electrical systems that require extended manufacturing and delivery periods. Ordering equipment before construction begins would reduce the overall project timeline.

Engineering specifications are being finalised to enable equipment procurement once permits are received. The company has not provided a timeline for when the final environmental permit is expected.

Outlook

GoGold's immediate priorities are securing the final environmental permit for Los Ricos South and placing orders for long lead time equipment. The company expects to provide updates on equipment orders in the coming weeks.

Parral will continue operating and generating cash flow during Los Ricos South construction. Metal prices have increased since the end of December, which should benefit results in the current quarter.

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