GoGold Advances Los Ricos South Construction

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") is pleased to provide an update on construction at its Los Ricos South project in Jalisco, Mexico, following the commencement announced on August 25, 2026. The project is progressing on schedule, and the Company reiterates first silver pour in the second quarter of 2028. "Construction at Los Ricos South is moving ahead at full steam. Site clearing is well advanced, with more than 150 contractors on site, and all long-lead equipment orders have been placed," said Brad Langille, President and CEO. "With US$284 million in cash in addition to cash flow from Parral, the project is fully funded with no debt or additional equity required. Based on our internal estimates using $60/oz silver and $4,200/oz gold, we see our maximum cash outlay in Q3 2027 and maintain cash reserves at a minimum of US$130 million throughout the build. We are progressing on schedule and remain focused on delivering first silver pour in Q2 2028." Los Ricos South Construction Highlights Active site works - Site clearing and earthworks advancing at the process plant site with more than 150 contractors on site. All long-lead orders placed - All long-lead equipment orders have been placed, with procurement continuing on schedule. The long-lead orders include the SAG mill, tailings filter, crusher, electrical switchgear, Merrill-Crowe plant, conveyors, slurry pumps, hydrocyclones, feeders and screens. Plant design - the design by M3 and DENM Engineering is at 90% complete Underground mining contractor selected - Cominvi planned to mobilize to site in Q4 2026. Schedule maintained - Construction and procurement remain on schedule, with first silver pour reiterated for Q2 2028. To date, the Company has spent US$15 million on the project. Following are the key schedule milestones: Los Ricos South Key Schedule Milestones Earthworks commenced - August 2026 Underground mine plan optimization commenced - August 2026 Start of powerline installation - November 2026 Concrete foundation pouring - January 2027 Portal development / ramp blasting - January 2027 Paste plant construction begins - January 2027 Hill-slope stabilization / mining - Main/Abra zone - March 2027 SAG mill delivery to site - May 2027 Plant commissioning begins - January 2028 Figure 1 - Los Ricos South Quarterly Capital Spend vs Cash Balance To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/1683/315349_a0bd6de454a4cae7_001full.jpg - Based on current internal estimates using $60/oz Silver and $4,200/oz Gold. - Includes exercise of 27.5 million outstanding warrants in November 2028 at C$3.50/warrant for net proceeds of approximately US$67.5 million. Picture 1 - Los Ricos South Current Status Compared to Detailed Engineering To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/1683/315349_a0bd6de454a4cae7_002full.jpg Technical information contained in this news release with respect to GoGold has been reviewed and approved by Mr. Bob Harris, P.Eng., who is a non-independent qualified person for the purposes of 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 in the state of Chihuahua and has the Los Ricos South project, which is in development with a construction decision approved by the Board, and Los Ricos North exploration and development project, both 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 . For further information please contact: Steve Low Corporate Development GoGold Resources T: 416 855 0435 E: [email protected] CAUTIONARY STATEMENT: The securities descri...