Additional Excellent Drilling Results At The Los Ricos South

HALIFAX, NS - GoGold Resources Inc. announced additional drilling results from Los Ricos South, within the Eagle and Main Deposits.  Hole LRGAG-22-113 intercepted 16.3m of 605 g/t silver equivalent (AgEq), containing 6,490 g/t AgEq over 0.8m, and.  The hole also intercepted an additional 12.3m of 462 g/t AgEq.

"Impressive drill results continue to come in for the Eagle," said Brad Langille, President and CEO. "We expect these holes, along with our previously released drilling results, will provide a very positive impact when we update our Mineral Resource Estimate and Preliminary Economic Assessment at  Los Ricos South later this year."

The Eagle Deposit adjoins the Main Deposit and represents a northern extension of the previously defined Mineral Resource Estimate in the Los Ricos South PEA. The Eagle concession covers 1,107 hectares, including the area between the Main Deposit and the Company's Jamaica concession located 3km to the northwest, where the Company holds the rights to additional concessions.  Drilling at the Eagle has returned the highest grade intercepts to date in the district.  These wide high grade intercepts are consistent with geophysical targets on the new concession.

The LRGG holes are part of a new drilling program at the Main Deposit.  The purpose of the program is to better define the very high grade portions of the current deposit that may be amenable to bulk underground mining.  The Company is carrying out a trade-off study to better define what portion of the deposit could be mined in a lower strip ratio pit and what portion would best be mined in more selective bulk underground mining. These holes are in addition to those drilled in 2019 and 2020 which formed part of the initial resource upon which the Los Ricos South Preliminary Economic Assessment (PEA) was based upon when it was released in 2021.