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NEWS RELEASE February 11 , 2021 PR # 06-2021 Shares Outstanding : Trading Symbols : 265,450,634 TSX : GGD OTCQX : GLGDF Parral Generates $ 6.7M US of Free Cash Flow for Quarter Ending December 31 , 2020 Halifax , NS - GoGold Resources Inc. ( TSX : GGD ) ( OTCQX : GLGDF ) ( “ " GoGold " , " the Company " ) is pleased to announce the release of financial results for the quarter ending December 31 , 2020 with record revenue of $ 14.1 million ( all amounts are in U.S. dollars ) from the sale of 601,551 silver equivalent ounces which provided cash flow from operations of $ 5.9 million . " Parral set another quarterly production record which generated $ 6.7 million US of free cash flow , paying for all of our exploration and general and administrative costs for the second consecutive quarter . With the strength of our Parral operation , the Company also added cash to our bank account this quarter , " Brad Langille , President and CEO stated . " With our $ 56 million US cash balance combined with our Parral operation's cash flows , we are able to rapidly execute on unlocking shareholder value at Los Ricos by adding to mineral resources and accelerating Los Ricos South towards production . " Financial Highlights for the quarter ending December 31 , 2020 : • • Free cash flow from Parral of $ 6.7 million , total Company cash flow from operations of $ 5.9 million Net income of $ 4.2 million ( $ 0.016 per share ) • Record revenue of $ 14.1 million on the sale of 601,551 silver equivalent ounces at a realized price per ounce of $ 23.40 • Cash of $ 56.4 million All in sustaining costs of $ 15.19 per silver equivalent ounce • Cash costs of $ 12.27 per silver equivalent ounce • Record production of 614,149 silver equivalent ounces , consisting of 298,591 silver ounces , 3,632 gold ounces , and 125 copper tonnes Following are tables showing summarized financial information and key performance indicators : Summarized Consolidated Financial Information ( in thousands USD , except per share amounts ) Three months ended Dec 31 2020 2019 Revenue Cost of sales , including depreciation Operating income $ 14,078 $ 9,293 8,409 8,110 4,020 160 Net income 4,237 535 Basic net income per share 0.016 0.003 Cash flow from operations 5,863 789