GGD.TO · 2019-12-04 12:00:00

GoGold's Intersects 33.5m at 2.67 g/t Gold Equivalent Including 9.5m at 5.47 g/t Gold Equivalent

Drill Results

GoGold's Intersects 33.5m at 2.67 g/t Gold

Equivalent Including 9.5m at 5.47 g/t Gold Equivalent

Trading Symbol: TSX: GGD

Shares Outstanding: 185,985,961

HALIFAX

Dec. 4, 2019

/CNW/ -

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the

Company")

is pleased to release the assay results from 8 new diamond drill holes at the Los Ricos project,

including 4 holes in the

San Juan

area, 2 holes in the Main area, and 2 holes along the South edge of the Main

area.

Hole LRGG-19-073, drilled on Section 750N to test the

San Juan

zone, intersected

33.5m

of quartz vein from

59.8 to

96.5m

, averaging 2.67 g/t gold equivalent or 200.4 g/t silver equivalent, made up of 1.12 g/t gold and

116.7 g/t silver, including

9.5m

of 5.47 g/t gold equivalent. Historical workings of

3.3m

were encountered in this

hole.

Hole LRGG-19-076 was drilled on Section 750N approximately

50m

down dip of hole LRGG-19-073 and

intersected

38.5m

of quartz vein from 106.5 to

145.0m

averaging 2.38 g/t gold equivalent or 178.2 g/t silver

equivalent, including

5.8m

of 5.17 g/t gold equivalent. No historical workings were encountered in the hole.

Hole LRGG-19-077 was drilled on Section 750N approximately

40m

down dip of hole LRGG-19-076 and

intersected

26.0m

of quartz vein from 112.5 to

138.5m

averaging 2.29 g/t gold equivalent or 171.7 g/t silver

equivalent, including

4.3m

of 7.49 g/t gold equivalent. No historical workings were encountered in the hole.

"Hole 77 is the deepest intersection on the

San Juan

zone that we have drilled to date. We're seeing wide

zones of mineralization carrying strong gold and silver grade in all three of the new holes and I believe we are

starting to outline a new ore shoot to the north of the historical Los Ricos mine," said

Brad Langille

, President

and CEO.

Hole LRGG-19-065 was drilled in the Main area and intersected

13.1m

of quartz vein from 276 to

291m

averaging 1.35 g/t gold equivalent or 101.1 g/t silver equivalent, made up of 0.23 g/t gold and 83.9 g/t silver,

including

5.4m

of 2.57 g/t gold equivalent. Historical workings of

1.9m

were encountered.

Detailed intersections are listed in Table 1, and the hole locations are shown in Table 2.

A longitudinal section summary of all the holes drilled at Los Ricos to date is available at

https://gogoldresources.com/component/rsfiles/preview?path=diagrams%252FLosRicos_LongSec_20191204.pdf

Table 1: Drill Hole Intersections

Hole ID

Area

From

Length

AuEq

AgEq

(m)

(g/t)

LRGG-19-065

Main Deep

276.0

291.0

13.1

0.23

83.9

1.35

101.1

including

281.0

286.4

5.4

0.50

154.7

2.57

192.4

LRGG-19-071

San Juan

101.6

120.8

19.2

0.28

53.8

1.00

75.0

LRGG-19-072

Main South

101.6

120.8

19.2

0.28

53.8

1.00

75.0

LRGG-19-073

San Juan

59.8

96.5

33.5

1.12

116.7

2.67

200.4

including

64.5

74.0

9.5

3.01

183.9

5.47

409.9

including

86.0

89.0

3.0

1.81

291.4

5.70

427.4

LRGG-19-074

Main

346.2

383.9

34.3

0.23

62.6

1.06

79.8

LRGG-19-075

Main South

153.8

160.0

6.2

0.23

15.3

0.43

32.4

LRGG-19-076

San Juan

106.5

145.0

38.5

0.73

123.4

2.38

178.2

including

122.4

128.2

5.8

1.70

260.3

5.17

387.5

including

136.0

142.0

6.0

1.58

220.0

4.51

338.5

LRGG-19-077

San Juan

112.5

138.5

26.0

1.03

94.5

2.29

171.7

including

115.5

119.8

4.3

4.28

241.1

7.49

561.9

Not true width

AuEq and AqEq converted using a silver to gold ratio of 75:1

Excludes 1.9m of open stopes from historical underground workings

Excludes 3.3m of open stopes from historical underground workings

Excludes 3.5m of open stopes from historical underground workings

Table 2: Drill Hole Locations

Hole ID

Easting

Northing

Elevation

Azimuth

Dip

Length

LRGG-19-065

610499

2327508

1425

50.0

-65.0

335.0

LRGG-19-071

610310

2327871

1453

50.0

-65.0

144.0

LRGG-19-072

610737

2327479

1414

50.0

-65.0

150.0

LRGG-19-073

610318

2327943

1464

50.0

-65.0

132.0

LRGG-19-074

610361

2327522

1408

50.0

-65.0

417.0

LRGG-19-075

610701

2327449

1409

50.0

-65.0

180.0

LRGG-19-076

610284

2327915

1451

50.0

-65.0

175.5

LRGG-19-077

610256

2327889

1438

50.0

-65.0

190.5

To date, GoGold has completed 90 diamond drill holes totaling

15,140m

of HQ size diamond drill core since

starting the Los Ricos drilling program in

March 2019

. The Phase II drilling program has started and a fourth drill

machine was added to the program.

The core drilling campaign is focused on defining the mineralized halo around the historical high-grade ore shoots

as defined by the underground workings and the 65 historical RC drill holes on the property. The program has

now been expanded for additional testing along 3.2 km of the Los Ricos mineralized zone.

The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the

sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of the core

being bagged and tagged for assay. The remaining half portion is returned to the core trays for storage and/or

for metallurgical test work.

The sealed and tagged sample bags are transported to the ActLabs facility in

Zacatecas, Mexico

. ActLabs

crushes the samples and prepares 200-300 gram pulp samples with ninety percent passing Tyler 150 mesh

(106μm). The pulps are assayed for gold using a 50-gram charge by fire assay (Code 1A2-50) and over limits

greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code 1A3-50). Silver and multi-

element analysis is completed using total digestion (Code 1F2 Total Digestion ICP). Over limits greater than 100

grams per tonne silver are re-assayed using a gravimetric finish (Code 8-Ag FA-GRAV Ag).

Quality Assurance / Quality Control and Data Verification

Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples and

includes the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks

and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each

batch are tracked to ensure the integrity of the assay data. All results stated in this announcement have passed

GoGold's QA/QC protocols.

Mr.

David Duncan

, P. Geo. is the qualified person as defined by National Instrument 43-101 and is responsible

for the technical information of this release.

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

project in the

state of Chihuahua

and has the Los Ricos exploration project in the state of

Jalisco

Headquartered in

Halifax, NS

, GoGold is building a portfolio of low cost, high margin projects. For more

information visit

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 applicable

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 statements other than statements of historical fact, included in this release, including, without

limitation, statements regarding the Parral tailings project, the Los Ricos project, future operating margins, future

production and processing, and 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 continuance of GoGold and its subsidiaries as a going

concern, 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 prove to be

accurate and actual results and future events could differ materially from 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 associated with GoGold's projects, the failure to establish estimated mineral

resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic

conditions. For additional information with respect to risk factors applicable to GoGold, reference should be

made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including,

but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release

is made as of the date of this release.

SOURCE

GoGold Resources Inc.

View original content:

http://www.newswire.ca/en/releases/archive/December2019/04/c7175.html

%SEDAR: 00029249E

For further information:

Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:

[email protected]

CO: GoGold Resources Inc.

CNW 08:30e 04-DEC-19

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