GGD.TO · 2021-10-06 12:00:00

Parral Reports Annual Production of 2.3M AgEq Oz and Quarterly Production of 526K AgEq Oz

Production Results

Parral Reports Annual Production of 2.3M AgEq Oz and Quarterly

Production of 526K AgEq Oz

Shares Outstanding: 277,847,367

Trading Symbols: TSX: GGD

OTCQX: GLGDF

HALIFAX, NS

Oct. 6, 2021

/CNW/ -

GoGold Resources Inc.

(TSX: GGD) (OTCQX: GLGDF)

("GoGold", "the Company")

is pleased to report

production for the year ending

September 30, 2021

of 2,270,073 silver equivalent ounces ("AgEq"), consisting of 1,138,358 silver ounces, 13,447 gold

ounces, and 470 tonnes of copper. Quarterly production at Parral was 526,044 silver equivalent ounces, consisting of 221,202 silver ounces, 3,437 gold

ounces, and a record 138 tonnes of copper.

"Parral in 2021 proved to be a very stable operation, producing 2.3 million silver equivalent ounces similar to the prior year, and generated in excess of

$US 22 million

in free cash flow over the year," said

Brad Langille

, President and CEO. "We believe that the reinvestment of this free cash flow into the

Los Ricos project is generating exceptional value growth for our shareholders."

Table 1: Quarterly Production Summary

Quarter Ended

Jun 2020

Sep 2020

Dec 2020

Mar 2021

Jun 2021

Sep 2021

Silver Production (oz)

270,044

300,740

298,591

302,933

315,632

221,202

Gold Production (oz)

1,914

3,414

3,632

3,208

3,170

3,437

Copper Production (tonnes)

104

128

125

120

138

Silver Equivalent Production (oz)

504,444

605,287

614,149

551,207

575,302

526,044

"Silver equivalent production" include gold ounces and copper tons produced and converted to a silver equivalent based on a ratio of the average market metal price for each period. The gold:silver ratio for each of the periods presented was: Jun 2020 – 105, Sep 2020

– 79, Dec 2020 – 76, Mar 2021 – 69, Jun 2021 – 68, Sep 2021 – 73. The copper:silver ratios were: Mar 2020 – 340, June 2020 – 326, Sep 2020 – 274, Dec 2020 – 305, Mar 2021 – 320, June 2021 – 369, Sep 2021 – 383.

Table 2: Annual Production Summary

Quarter Ended

Sep 2019

Sep 2020

Sep 2021

Silver Production (oz)

1,059,438

1,315,661

1,138,358

Gold Production (oz)

9,149

10,089

13,447

Copper Production (tonnes)

260

470

Silver Equivalent Production (oz)

1,847,835

2,295,416

2,270,073

89, Sep 2021 – 72. The copper:silver ratio for the periods presented was: Sep 2020 – 302, Sep 2021 – 348.

Mr.

Robert Harris

, P.Eng. 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 mine in the

state of Chihuahua

and has the Los Ricos South and Los Ricos North

exploration projects 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 production and cash flows of the Parral tailings mine, the

ability of GoGold to self fund its ongoing exploration and administrative costs, 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.

View original content:

https://www.prnewswire.com/news-releases/parral-reports-annual-production-of-2-3m-ageq-oz-and-quarterly-production-of-526k-ageq-oz-301393880.html

SOURCE

GoGold Resources Inc.

View original content:

http://www.newswire.ca/en/releases/archive/October2021/06/c1372.html

%SEDAR: 00029249E

For further information:

please contact: Steve Low, Corporate Development, GoGold Resources , T: 416 855 0435, E: [email protected]

CO: GoGold Resources Inc.

CNW 06:30e 06-OCT-21

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