GoGold Resources Inc. provided an outlook of milestones and deliverables for 2023. Some of the key milestones which company is targeting for 2023 are as follows: Continued aggressive drilling program at Los Ricos South; Updated Mineral Resource Estimate and Preliminary Economic Assessment at Los Ricos South including the effects of the Eagle concession; Underground exploration and development at Los Ricos South focussing initially on the Eagle; Completion of Pre-Feasibility Study at Los Ricos South; Completion of PEA at Los Ricos North. Los Ricos South: Updated Resource & PEA: In 2023, the Company will continue drilling at the Eagle concession, which is included in Los Ricos South and was acquired in October 2022, as well as the continuation of the drilling program at the Main Area.

The results of these drilling campaigns are expected to be included in an updated Mineral Resource Estimate, which will form the basis for an updated PEA. The Company is targeting a significant increase in the value of the mineral deposits at Los Ricos South. The addition of the Eagle concession, which is adjacent to the Main area, is expected to increase the economics of the project given the expanded strike length on the deposit.

The addition of the Eagle concession and the drilling results to date, along with the re-examination of the drilling results from the previously released Main area of Los Ricos South, show the potential for a significant bulk underground mining operation which will be the focus of the revised PEA in Los Ricos South. Some of the key advantages in this revised development plan could be a lower environmental impact compared to open pit mining, easier and expedited permitting process, potentially higher grade and lower capital expenditures, and potentially increased net present value with the addition of the Eagle concession. The 2022 drilling program at these locations produced some of the strongest results to date in the Los Ricos district, including intercepts such as 11.5m of 3,047 g/t silver equivalent, 11.9m of 2,260 g/t AgEq, and 15.0m of 1,444 g/t AgEq.

Pre-Feasibility Study: While the Los Ricos South PFS was originally planned to be completed in 2022, the addition of the Eagle concession significantly altered the project. As a result, the PFS is expected to be completed in 2023 and will be based on the updated resource and PEA, including the Eagle concession. GoGold made progress on certain aspects of the PFS during 2022 which included positive results from the metallurgical test program, as well as activities such as process design, equipment sizing and quotations, process flow diagram completion, site work, power sourcing, and water sourcing.

Underground Development: As part of the exploration and the advancement of resources to reserves, the Company anticipates entering an underground development phase in the first quarter of the year. This will include additional drilling to confirm resources and testing to prove and evaluate underground mining methods. Los Ricos District Overview: With the acquisition of the Eagle concession in October 2022, this connected the Company's concessions held in the southern portion of its Los Ricos South project, including the Main area where the Initial Resource was released, to its northern concessions in Los Ricos South, which includes the Jamaica exploration target.

As a result, all the concessions in Los Ricos South are now contiguous. The Company now holds 45 concessions covering over 25,000 hectares in the Los Ricos district and continues to assess whether any additional concessions in the area will be acquired. Los Ricos North: During 2022, the Company completed a significant drilling campaign at Los Ricos North, with results released at a number of the key deposits and targets within the project including El Favor, Mololoa, Gran Cabrera, and El Nayar.

See Table 2 for highlighted 2022 drilling results at Los Ricos North. See press release dated December 7, 2021 and Figure 2 for full details regarding the initial Mineral Resource estimate. The focus at Los Ricos North in 2023 will be the release of an initial PEA providing the market with the first look at the value of this significant deposit.

This is expected to be completed in the first half of 2023. GoGold anticipates the release of additional drilling results from Los Ricos North over the coming months, including those from explorations on additional targets not included in the initial Resource.