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$GLGDF GoGold Resources Announces New Discovery at Casados in Los Ricos North Including 2,740 g/t AgEq over 1.3m Contained Within 56.5m of 171 g/t AgEq

Drill Results Silver Mexico

TSX: GGD
www.gogoldresources.com

Mr. Bradley Langille reports:

HALIFAX, NS, Feb. 17, 2021 /CNW/ - GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") is pleased to release the results of the initial 9 diamond drill holes from the Casados deposit in the Los Ricos North project. These are the first holes ever drilled in what represents a new discovery at Casados. Although there was limited historical mining that averaged 1.5m in width on one of the veins (Casados – Vein 1), the discovery is that the Casados Vein 1 is strongly mineralized over widths exceeding 20m. There is an additional discovery of a second fully intact vein (Casados – Vein 2) in the footwall that exceeds 20m in width with grades as good or exceeding Vein 1. In some instances, these two veins combine into one with widths up to 56.5m of 171 g/t silver equivalent ("AgEq").

"Casados, like El Orito, is the second major epithermal silver and gold discovery our exploration team has made since we began working on the Los Ricos North property only 8 months ago," said Brad Langille, President and CEO. "These discoveries, along with the resource drilling at El Favor and La Trini, we believe will be paramount to the team defining a significant Mineral Resource Estimate at Los Ricos North in 2021. This additional discovery at Casados continues to strengthen our belief that Los Ricos North is a very large mineralized system."

Next Steps

Up dip drilling to test Vein 1 and Vein 2 to surface (Figures 3 and 4)
Additional shallow drilling to follow wide zones of silicification and veining mapped along strike to the East (Figure 2)
Drilling at depth, as other ore shoots in district are known to extend as deep as 850m (Figure 4)

Table 1: Drill Hole Intersections

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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
https://gogoldresources.com/about-us/who-we-are
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