Trading Symbol: TSX: GGD
Shares Issued: 139,918,074
HALIFAX, June 3 2014 /CNW Telbec/ - GoGold Resources Ltd. (TSX: GGD), (GoGold), is pleased to announce that the company has poured its first silver-gold bar at its Parral Mine in Chihuahua, Mexico. Construction is within budget and on time. This significant event puts GoGold on a path to becoming a profitable silver-gold producer as the project moves towards full commercial production later this year. Parral will produce strong cash flow that will support continued growth for the company.
This is a major achievement for the company and a culmination of hard work from our employees in all areas of the company. GoGold's team along with MDM Engineering built the Parral Heap Leach Processing Facility from blue print to silver-gold production in only 7 months. This is the first mine in GoGold's plan to become a mid-tier producer as the company believes it can re-establish production at its newly acquired Santa Gertrudis gold mine in 2015.
Visit our web site to view up to date photos of the first dore bar and Parral processing facility at www.gogoldresources.com.
Mr. Robert Harris P.Eng is the qualified person as defined by National Instrument 43-101 and is responsible for the information regarding the Parral project.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of 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 statements of historical fact, included in this release, including, without limitation, statements regarding the impact of the private placement and debt financing on GoGold and the Parral tailings project, and future plans and objectives of GoGold, constitute forward-looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the ability to satisfy all conditions to funding of the second tranche under the credit agreement. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.
Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with the GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.
SOURCE: GoGold Resources Inc.
For further information: Terence F. Coughlan, President and CEO, or, Sean Tufford, Vice President, Corporate Development, GoGold Resources Inc., T: 902 482-1998, F: 902 442-1898, Email : [email protected], Or visit : www.gogoldresources.com