GoGold releases Q2 2024 financial results and announces board changes

Number of issued shares: 328,612,319
Trading symbol: TSX: GGD
OTCQX: GLGDF

Halifax, New South Wales, May 8, 2024 /CNW/ – Go Gold Resources Co., Ltd. (TSX: GGD) (OTCQX: GLGDF) (“Go Gold”, “We”) We are pleased to announce our financial results at the end of this quarter. March 31st, 2024. The Company generated the following net income: $1.3 million and revenue $8.9 million (All amounts are in USD) From the sale of 374,140 silver equivalent ounces.

“In addition to the successful addition of the SART zinc circuit, Paral is realizing the benefits of increased production and rising metal prices. Our production is expected to continue to increase over the next few quarters. “We believe that this is contributing to our strong growth.” brad langillRepresentative Director and President.

Quarter-end highlights March 31, 2024:

• of cash $80.8 million

• revenue of $8.9 million 374,140 silver equivalent ounces sold at realized price per ounce $23.90 per ounce

• Net income $1.3 million

• Production of 375,745 ounces of silver equivalent (138,657 ounces of silver, 2,184 ounces of gold, 93 tons of copper)

• The first quarter produced zinc deposits, with 92 tonnes produced.

• Adjusted cash cost per ounce of silver equivalent $17.29

• All adjusted for sustaining cost per ounce of silver equivalent $24.20

The table below provides summarized financial information and key performance indicators.

Changes to the Board of Directors (hereinafter referred to as the “Board of Directors”)

We would like to announce the following retirement: george way, FCPA, from the FCA Board of Directors. Mr. Wei joined the company in June 2010 and has provided valuable expertise and guidance for 14 years. Combining his financial expertise and strategic knowledge, GoGold was able to grow from a shell company to a silver and gold producer over his more than 10 years. Parral is well positioned for future development in the Los Ricos area. “I would like to thank Mr. George for his long service and 14 years of valuable expertise and contributions that have helped the company grow to the strong position it is in today.” john turnerBoard chairman.

story continues

We have appointed: douglas reed Board of Directors, effective May 7thMr. Reed is a former partner at KPMG Canada, where he served in various leadership roles, including Atlantic Managing Partner and member of KPMG Canada's Board of Directors. During his 40-year career with KPMG, Mr. Reed has provided professional services to many companies. atlantic canada Major public and private companies, including entities in the mining sector and entities operating internationally. Mr. Reid currently serves on the board of the Halifax Port Authority. “We are very pleased to have Doug join our team. With his outstanding experience and skillset and familiarity with GoGold, we are confident that his addition to our board of directors will be of great benefit to our shareholders.” ” Ranjiru.

This news release should be read in conjunction with our interim condensed consolidated financial statements for the quarter ended. March 31, 2024Notes to the Financial Statements, Management's Discussion and Analysis of the Ended Quarter March 31, 2024These have been filed on SEDAR and are available on our website.

The technical information contained in this news release regarding GoGold has been reviewed and approved by Mr. bob harrisP.Eng., NI 43-101.

About GoGold resources

GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high-quality projects in Mexico. The Company operates the Parral Tailings Mine. chihuahua state We have exploration projects in the state, Los Ricos South and Los Ricos North. Jalisco.headquartered in Halifax, New South Wales, GoGold has built a portfolio of low-cost, high-margin projects. For more information, please visit gogoldresources.com.

Notes:

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and You cannot recruit or sell within the scope. US to or to a U.S. Person (as defined in Regulation S under the U.S. Securities Act), except pursuant to the registration requirements or exemptions from the U.S. Securities Act and applicable state securities laws; For profit. This release does not constitute an offer to sell or a solicitation of an offer to buy any securities of GoGold. US.

This news release may contain “forward-looking information” as defined in applicable Canadian securities laws. All statements, other than statements of historical fact, contained in this release relate to the Parral Tailings Project, the Los Ricos Project, future operating margins, future production and processing, and GoGold's future plans and objectives. Contains forward-looking information, including, but not limited to, statements. We are looking for information that involves various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions used to create such information, including, but not limited to, assumptions related to the continued existence of GoGold and its subsidiaries, which may be incorrect or incorrect. It may turn out that there are. concerns, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral Project; there can be no assurance that such information will be accurate or actual results, and that future events may It may be very different from the actual one. Such positive information.

Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with GoGold's projects, failure to establish probable mineral resources or mineral reserves, volatility of commodity prices; These include changes in collection rates, global economic conditions, etc. For additional information regarding the risk factors applicable to GoGold, please refer to GoGold's continuous disclosure documents filed from time to time with securities regulatory authorities, including, without limitation, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.

Non-GAAP and additional GAAP measures to be aware of

Please note that in this section, GAAP refers to IFRS. The Company believes that investors use certain non-GAAP measures and additional GAAP measures as metrics for evaluating mining companies. They are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance developed in GAAP. Non-GAAP and additional GAAP measures do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies.

Additional GAAP measures that appear on the face of our Consolidated Statements of Comprehensive Income include “Operating Income (Loss).” These indicators are intended to provide an indication of the Company's mine and operational performance. The per ounce measurement is calculated by dividing the associated mining and processing costs and total costs by the tons of ore processed during the period. “Adjusted cash cost per ounce” and “adjusted all-in sustaining cost per ounce” are used in this analysis. It is a non-GAAP term typically used by mining companies to evaluate the level of gross profit available to the company by subtracting these costs from cost. Unit price realized during the period. These non-GAAP terms are also used to evaluate a mining company's ability to generate cash flow from its operations. The way we determine these metrics may differ slightly compared to other mining companies. In this context, “adjusted cash cost per ounce” reflects cash operating costs allocated from work-in-process inventory and Doerr inventory associated with ounces of silver and gold sold during the period. “Adjusted cash cost per ounce” may vary from period to period depending on operating efficiency, grade of material processed and silver/gold recovery rates for that period. “Adjusted all-in sustaining costs per ounce” includes the sum of cash costs, exploration costs, corporate and administrative costs, stock-based compensation and sustaining capital costs. For a reconciliation of non-GAAP and GAAP measures, see Management's Discussion and Analysis dated November 1, 2012. May 7, 2024 the last 3 months March 31, 2024presented on SEDAR.

View original content to download multimedia: https://www.prnewswire.com/news-releases/gogold-releases-q2-2024-financial-results-and-announces-changes-to- board-of-directors-302139451.html

SOURCE GoGold Resources Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/08/c6363.html