GoGold Achieves Major Milestone: Final Remaining Permits Secured and Construction Approved for Los Ricos South Underground Mine
Rhea-AI Summary
GoGold (OTCQX: GLGDF) announced that Mexico’s federal environmental agency SEMARNAT has granted all permits and approvals needed to construct the Los Ricos South bulk tonnage underground mine in Jalisco.
The board approved a construction decision, with development expected to take about 24 months from commencement to first pour, emphasizing environmental, social, and safety standards.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Positive
- All required SEMARNAT permits and approvals secured for Los Ricos South underground mine
- Board of directors approved construction decision for Los Ricos South project
- Construction period expected to take 24 months from start to first pour
- Project design emphasizes environmental protections and sustainability practices
- Company commits to local employment and regional economic development in Jalisco
- Stated focus on high industrial safety standards for workers and communities
Negative
- None.
News Market Reaction – GLGDF
On the day this news was published, GLGDF gained 12.76%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Halifax, Nova Scotia--(Newsfile Corp. - June 8, 2026) - GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") is pleased to announce a transformative milestone: that the Mexican Federal Environmental Department ("SEMARNAT") has granted all permits and approvals required from SEMARNAT to construct the Los Ricos South ("LRS") bulk tonnage underground mine (the "Project") located in Jalisco State, Mexico.
The Company's board of directors has approved a construction decision to begin construction of the Project, which is anticipated to take 24 months from commencement until first pour.
"We are deeply grateful and committed to Mexico and the people of Jalisco for their partnership and trust as we advance this project, and we remain fully committed to creating long-term value for the country and its communities," said Brad Langille, President and CEO. "This achievement reflects our shared commitment to responsible resource development that prioritizes environmental stewardship and community benefit. We are excited to move forward and look forward to beginning construction while continuing to work closely with all stakeholders."
The Project has been designed with rigorous environmental protections and sustainability practices at its core. The Company remains committed to transparent engagement with shareholders, non-governmental organizations, local communities, and all interested parties as development proceeds.
GoGold looks forward to creating local employment opportunities, supporting regional economic development, and operating in accordance with the highest environmental and social standards. The Company is also committed to working under the highest industrial safety standards to protect its employees, contractors, communities, and the environment.
About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua, has the Los Ricos South project in development with all permits required for construction and the Los Ricos North exploration project in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects. For more information, visit gogoldresources.com.
For further information, please contact:
Steve Low, Corporate Development
GoGold Resources Inc.
T: 416 855 0435
Email : steve@gogoldresources.com
Or visit : www.gogoldresources.com
CAUTIONARY STATEMENT:
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 Los Ricos South project, satisfaction of permit conditions, the timing of any construction decision and construction activities, future operating margins, future production and processing, Project economics including NPV, IRR, capital costs, mine life and production, expected community benefits, 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 and Mineral Reserve Estimates, and the performance of the Parral project. 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 GoGold's projects, the failure to establish estimated Mineral Resources or Mineral Reserves, volatility of commodity prices, variations of recovery rates, permitting and regulatory risks, construction and financing risks, community relations, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300455