Gogold Resources Inc. Completes Sale of Santa Gertrudis Project to Agnico Eagle Mines Limited FOR US$80 Million

GOGOLD RESOURCES INC. COMPLETES SALE OF SANTA GERTRUDIS PROJECT

TO AGNICO EAGLE MINES LIMITED FOR US$80 MILLION

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR RELEASE,

PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN

WHOLE OR IN PART, IN OR INTO THE UNITED STATES

HALIFAX, NOVA SCOTIA - (November 2, 2017) - GoGold Resources Inc. (“GoGold” or the

“Company”) (TSX:GGD) announces that it has co mpleted its previously announced sale to

Agnico Eagle Mines Limited (“Agnico”) of the Santa Gertrudis gold proj ect (the “Project”),

located in Sonora, Mexico (the “Transaction”).

Pursuant to the Transaction the Company rece ived total cash consideration of US$80 million

(less a working capital adjustment of US$379,978) and was granted a 2% NSR on the Project,

50% of which may be repurchased at any time for US$7.5 million. The Company has applied the

net proceeds of the Transaction to repay in full the US$46.5 million outstanding under its

existing senior revolving credit facility with th e Bank of Montreal (the “Facility”), to repay the

principal and interest on the US$7.5 million subordinated secured term loan advanced by Agnico

to the Company and for general working cap ital purposes. Following the completion of the

Transaction the Facility was terminated.

Brad Langille, President and CEO of GoGold st ated, “We are very pleased to complete this

Transaction with Agnico. We believe GoGold sh areholders are well positioned to benefit from

the future potential of Santa Gertrudis throug h our retained royalty. After this Transaction

GoGold will be debt free with a strong cash ba lance which positions the Company well as the

Parral Tailings project ramps up to its full pr oduction potential, while also allowing us to

continue to pursue further opportunities.”

Advisors and Counsel

BMO Capital Markets acted as financial advisor to GoGold and Fasken Martineau DuMoulin

LLP acted as GoGold’s legal advisor. Davies Wa rd Phillips & Vineberg LLP acted as Agnico’s

legal advisor.

About GoGold Resources

GoGold is a Canadian-based silver and gold producer focused on operating, developing,

exploring and acquiring high quality projects in Mexico. Headquartered in Halifax, Nova Scotia,

GoGold is building a portfolio of low cost, hi gh margin projects. For more information visit

www.gogoldresources.com.

For further information please contact:

Brad Langille, President and Chief Executive Officer

T: 902-482-1998

Email: [email protected]

Steve Low, Corporate Development

T: 416-855-0435

Email: [email protected]

Or visit: www.gogoldresources.com

CAUTIONARY STATEMENT:

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

may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as

defined in Regulation S under the U.S. Securities Act) except in compliance with the registration

requirements of the U.S. Securities Act and a pplicable state securities laws or pursuant to

exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer

to buy of any of GoGold’s securities in the United States.

This news release may contain “forward-looking information” as defined in applicable Canadian

securities legislation. All statemen ts other than statements of hist orical fact, included in this

release, including, without limitation, statements regarding the use of proceeds from the amounts

received by GoGold in connection with the Tran saction and the future plans and objectives of

GoGold, constitute forward-looking information that involve various risks and uncertainties.

Forward-looking information is based on a number of factors and assumptions which have been

used to develop such information but which may prove to be incorrect, including, but not limited

to, assumptions in connection with the continua nce of GoGold and its subsidiaries as a going

concern, general economic and market conditions, mineral prices and the accuracy of mineral

resource estimates. There can be no assurance that such information will prove to be accurate

and actual results and future ev ents could differ materially fr om those anticipated in such

forward-looking information.

Important factors that could cause actual results to differ materially from GoGold’s expectations

include exploration and development risks associat ed with the GoGold’s projects, the failure to

establish estimated mineral resources or mineral reserves, volatility of commodity prices,

variations of recovery rates and global econo mic conditions. For additional information with

respect to risk factors applicab le to GoGold, reference should be made to GoGold's continuous

disclosure materials filed from time to time w ith securities regulators, including, but not limited

to, GoGold’s Annual Information Form. The forw ard-looking information contained in this

release is made as of the date of this rel ease. GoGold assumes no ob ligation to update these

forward-looking statements, except as required by applicable securities legislation.