GoGold Anticipates Developments in 2024

GoGold Resources has provided a comprehensive outlook for 2024, following a year of progress in the Los Ricos district. The company has successfully expanded its resources in the district, with 186 million silver equivalent (AgEq) ounces in measured & indicated resources and 87 million AgEq ounces in inferred resources. Additionally, GoGold completed two preliminary economic assessments (PEAs) in Los Ricos South and North, revealing a combined total Net Present Value (NPV) of US$871 million for the district. A permit application for constructing a mine at Los Ricos South was also filed in 2023.

Key Milestones for 2024

Brad Langille, President and CEO, outlined several critical milestones for 2024:

1. Completion of SART Zinc Circuit Commissioning: Scheduled for January at Parral, marking the tenth year of production.
2. Progression to Definitive Feasibility Study: Following the PEA at Los Ricos South in 2023, a definitive feasibility study is expected to be completed within the first six months of 2024.
3. Los Ricos South Mine Permitting: The technical review process for mine permitting is anticipated to conclude in the first quarter of 2024, with the permit expected by mid-year, subject to government review.
4. Construction Decisions: A decision on the construction at Los Ricos South is set to follow the completion of the feasibility study and receipt of the mine permit.
5. Infrastructure Development: The initiation of electrical and water infrastructure construction at Los Ricos South by the end of 2024.
6. Debt Financing Agreement: Entering into a definitive agreement for the remaining funds required for Los Ricos South construction, with initial discussions indicating significant interest from prospective lenders.
7. Debt Financing for Los Ricos North: Evaluating potential financing options to advance Los Ricos North towards a construction decision during Los Ricos South's potential construction phase.