GoGold Resources Inc. (TSX: GGD) is excited to announce that it has entered the execution phase of the Los Ricos South Project in Jalisco State, Mexico, by commencing detailed design activities and placing orders for long lead items.
Significant progress has been made to date, as stated by Brad Langille, President and CEO: "The advancement of the Los Ricos underground project marks an important milestone in the growth of the company. The progress to date will ensure a quick launch of site construction once the permit is issued; we are shovel ready. We have assembled a strong Mexican team to construct, commission, and ramp up production. With approximately $250 million USD in the bank and the cash flow generated by our Parral operation, we look forward to starting in Los Ricos to benefit the local community and all stakeholders. We will continue to make substantial investments in the Mexican economy, where 100% of our operations are located."
Mr. Robert Harris, P.Eng., serves as the qualified person as defined by National Instrument 43-101 and is responsible for the technical information related to Parral in this release.
GoGold Resources (TSX: GGD) operates the Parral Tailings mine in Chihuahua and has the Los Ricos South and Los Ricos North exploration and development projects in Jalisco. Headquartered in Halifax, Nova Scotia, GoGold is focused on 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 Inc.
T: 416 855 0435
Email: steve@gogoldresources.com
Or visit: www.gogoldresources.com
CAUTIONARY STATEMENT: The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the U.S. or to, or for the benefit of, U.S. persons except in compliance with the registration requirements of the U.S. Securities Act or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy 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 historical facts, including, without limitation, statements regarding the Parral tailings mine, the Los Ricos projects, and future plans of GoGold, are forward-looking and involve risks and uncertainties. Factors affecting this information include exploration risks, commodity price volatility, and general economic conditions. For additional information regarding risk factors, please refer to GoGold's continuous disclosure materials.
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