GoGold Secures Final Permits, Board Approves Construction of Los Ricos South Underground Mine

• Mexico's federal environmental authority, SEMARNAT, has granted all permits required to construct the Los Ricos South underground mine.
• GoGold's board of directors has approved a construction decision for the project.
• Construction is expected to take approximately 24 months, from start to first pour.
• Los Ricos South is a bulk tonnage underground mine located in Jalisco State, Mexico.
• The company stated the project has been designed with environmental protections and sustainability practices, alongside plans for continued engagement with local communities and stakeholders.

GoGold Resources (TSX:GGD)(OTCQX:GLGDF) is a Canada-based silver and gold producer with operations and projects in Mexico. The company operates the Parral Tailings mine in Chihuahua State, has the Los Ricos South project in development, and holds the Los Ricos North exploration project in Jalisco State. Headquartered in Halifax, Nova Scotia, GoGold describes itself as building a portfolio of low cost, high margin projects.

Final SEMARNAT Permits Granted and Board Approval to Construct Los Ricos South

GoGold has received all permits and approvals required from SEMARNAT, Mexico's federal environmental authority, to construct the Los Ricos South underground mine. This completes the permitting process for the project.

Following receipt of these permits, GoGold's board of directors approved a construction decision, authorising the company to begin building the mine.

President and CEO Brad Langille commented:

"We are deeply grateful and committed to Mexico and the people of Jalisco for their partnership and trust as we advance this project, and we remain fully committed to creating long-term value for the country and its communities. This achievement reflects our shared commitment to responsible resource development that prioritizes environmental stewardship and community benefit. We are excited to move forward and look forward to beginning construction while continuing to work closely with all stakeholders."

24-Month Construction Timeline to First Pour

GoGold expects construction of Los Ricos South to take approximately 24 months, concluding with first pour. First pour refers to the point at which a mine produces its first bars of doré, a semi-refined mixture of gold and silver, and typically marks the transition from construction to production.

Los Ricos South is designed as a bulk tonnage underground mine, a method of extracting ore through underground tunnels rather than an open pit.

The company stated the project has been designed with environmental protections and sustainability practices incorporated into its plans, and that it will maintain transparent engagement with shareholders, non-governmental organisations, local communities, and other stakeholders as construction proceeds.

Existing Parral Operations Alongside New Construction

GoGold currently operates the Parral Tailings mine in Chihuahua State. This operation continues alongside the start of construction at Los Ricos South.

The company also holds the Los Ricos North exploration project in Jalisco State, in addition to Los Ricos South.

GoGold has described its overall strategy as building a portfolio of low cost, high margin projects in Mexico. Details on how construction at Los Ricos South will be financed were not specified in the release.

Milestones and Next Steps

GoGold has completed the SEMARNAT permitting process and received board approval to begin construction of Los Ricos South. The company's next step is to commence construction, with first pour targeted approximately 24 months from the start of works. GoGold stated it will continue to focus on local employment opportunities, regional economic development, and environmental and safety standards, while maintaining engagement with communities and stakeholders throughout construction.

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