/NOT FOR DISTRIBUTION TO US WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA/
Trading Symbol: TSX-V: GGD
Shares Issued: 128,288,331
HALIFAX, Sept. 17, 2012 /CNW/ - Terry Coughlan, President and CEO of
GoGold Resources Inc. ("GoGold" or the "Company") (TSXV: GGD), is
pleased to announce that Dr. Jozsef Ambrus will be a lead consultant to
advise on the exploration plan for the newly discovered gold, silver,
copper porphyry system at the San Diego Project in Durango, Mexico. Dr.
Ambrus brings over 40 years of successful exploration and development
experience to GoGold in the assessment of mineral resources, evaluation
of mining projects and strategic planning.
Dr. Jozsef Ambrus has worked in the mineral industry as an employee,
consultant or advisor to mining companies all over the world. He has
experience in over 20 countries including Canada, Mexico and Chile. He
has published over 20 technical papers written on mineral resources,
description of ore deposits, and mineral evaluation methods. Dr.
Ambrus' vast technical expertise and proven experience in the field has
qualified him as a world expert in the exploration and development of
porphyry style deposits.
Highlights of his successful career include being named Chief Geologist
at the Chuquicamata Mine in Chile, which until recently had the largest
annual production of any open pit mine in the world. Subsequently he
became Chief Geologist of the Chilean Copper Corporation (Codelco),
world´s largest copper producing company and owner of Chuquicamata, El
Teniente and other giant copper deposits of Chile. Dr. Ambrus has also
held various senior level positions with Toronto based TVX Gold
including Vice President for Chile, Vice President of Exploration
Worldwide, and Vice President of Strategic Planning. In recent years,
Dr. Ambrus was also on the Board of several mining companies, including
London based Antofagasta plc and several junior companies in some of
which he was co-founder.
Dr. Ambrus received his geology degree from the Universidad de Chile in
1970 followed by his Doctorate in Earth Sciences from Universidad de
Salamanca, Spain in 1979. A Regular Member of Colegio de Geólogos de
Chile, Instituto de Ingenieros de Minas de Chile (board member 1985)
and Society of Economic Geologists, USA (vice-president for South
America 1984-88), Dr. Ambrus is also a Registered Competent Person
Terry Coughlan, President and CEO stated: "We are extremely pleased to
have Dr. Jozsef Ambrus advising our geological team. Based on his long
history of success and a lifetime of mineral industry experience, many
believe Dr. Ambrus is one of the best porphyry experts in the world.
His technical expertise will be of great value as we continue to
identify and develop the porphyry system we have discovered at San
Diego. Dr. Ambrus will work as a consultant for GoGold reviewing our
existing exploration results and will provide professional assistance
with strategic planning as we move the San Diego Project forward. "
Dr. Ambrus has been granted 150,000 incentive stock options exercisable
at a price of $1.60 for a term of five years from the date of grant.
The options will vest one quarter on each of the 6, 12, 18 and 24 month
anniversary of the date of grant.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This News Release includes certain "forward-looking statements". All
statements other than statements of historical fact, included in this
release, including, without limitation, statements regarding potential
mineralization and reserves, exploration results, and future plans and
objectives of GoGold, are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from GoGold's expectations are exploration risks
detailed herein and from time to time in the filings made by GoGold
with securities regulators.
SOURCE: GOGOLD RESOURCES INC.
For further information:
Terence F. Coughlan, President and CEO,
Sean Tufford, Vice President, Corporate Development
GoGold Resources Inc.,
T: 902 482-1998
F: 902 442-1898
Email : email@example.com
Or visit : www.gogoldresources.com