/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 (#0016), Chile.
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 protected]
Or visit : www.gogoldresources.com