GoGold Presents its 2023 Sustainability Report

Rhea-AI Summary

GoGold Resources has released its fourth annual Sustainability Report, highlighting the company's commitment to ESG practices. Notable achievements include a 44% reduction in energy consumption, a 38% decrease in CO2 emissions, and production of silver at a low carbon footprint of 0.006 tCO2e per ounce. The report also notes an 8% increase in safety and professional training hours, totaling over 12,000 hours. Financially, GoGold invested $17.2 million USD in local purchases and donated 600 machine hours for community infrastructure. The company received the ESR distinction and provided various social benefits to local communities, including food packages, educational supplies, and medical services. The report covers activities from January 1 to December 31, 2023, and follows the Global Reporting Initiative guidelines.

Positive

• 44% reduction in energy consumption year-over-year.
• 38% decrease in carbon dioxide emissions.
• Low carbon footprint of 0.006 tCO2e per ounce of silver equivalent produced.
• 0.006 tCO2e per tonne of ore processed at Parral.
• 8% increase in safety and professional development training hours, totaling over 12,000 hours.
• $17.2 million USD spent on local purchases.
• Donation of 600 machine hours to assist nearby towns with infrastructure.
• Awarded the ESR distinction for corporate social responsibility.
• Positive social impacts, including food packages for the elderly and educational supplies for children.

Negative

• No explicit financial performance data provided for shareholder evaluation.
• The report focuses heavily on ESG metrics, which may not directly correlate with immediate financial gains.
• Potentially higher operational costs associated with implementing ESG practices.

                                                                                                    Shares Outstanding:        328,675,081
                                                                                                                   Trading Symbols:          TSX: GGD
OTCQX: GLGDF

­­­­­­­­­­­­­­­­HALIFAX, NS, May 23, 2024 /PRNewswire/ - GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") is pleased to present its fourth annual Sustainability Report that sets out the Company's performance and achievements with respect to its environmental, social and governance ("ESG") practices.  The Company is steadfastly committed to responsible mining practices, prioritizing safety, environmental responsibility, and benefits for local communities.

"We're pleased to release our fourth annual Sustainability Report which outlines our performance and achievements related to ESG practices.   Silver continues to be a metal that is a key component of the emerging green economy.  Our partnership with the Town of Parral to help remediate their land produces silver at a low carbon footprint of 0.006 tons of carbon dioxide equivalent ("tCO₂e") per ounce of silver equivalent produced," said Brad Langille, President and CEO.  "We believe the work our ESG team have been doing at Los Ricos South has been instrumental in establishing our partnership with the local community.  We will continue on this path as we advance Los Ricos South towards production."

Highlights of the Report:

• Energy consumption decrease of 44% compared to prior year, including a 25% decrease at Parral.
• Decreased carbon dioxide emissions by 38% compared to the previous year.
• 0.006 tCO₂e per oz of silver equivalent produced at Parral.
• 0.006 tCO₂e per tonne of ore processed.
• Increase of over 8% in safety and professional development training to over 12,000 hours.
• Awarded the ESR distinction (Empresa Socialmente Responsables – Corporate Social Responsibility)
• $17.2 million USD spent in local purchases, including $422,000 in community investment.
• Donation of 600 machine hours to nearby towns in order to help with local infrastructure.
• Social impacts in nearby communities include providing food packages to elderly, educational and sports supplies to local children and medical attention to residents.

The full update is available for download at www.gogoldresources.com/sustainability/

The Sustainability Report addresses ESG issues, detailing the performance and results of the Company from January 1 to December 31, 2023. The methodology and approach used in the report were based on the Global Reporting Initiative guidelines. 

GoGold is dedicated to supporting the United Nations Sustainable Development Goals ("SDGs") by prioritizing them in line with GoGold's four core principles: safety and health, environmental conservation, work environment, and community engagement. The SDGs are a critical part of the United Nations' 2030 Sustainable Development Agenda, and the Company's actions directly and indirectly impact each. GoGold is committed to enhancing its efforts to promote sustainable development and to engage Company stakeholders in planning and decision-making.

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 and has the Los Ricos South and Los Ricos North projects 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.

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 Parral tailings project, the Los Ricos project, future operating margins, future production and processing, 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 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 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.

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SOURCE GoGold Resources Inc.

FAQ

What are the key highlights of GoGold's 2023 Sustainability Report?

Key highlights include a 44% reduction in energy consumption, 38% decrease in CO2 emissions, and 0.006 tCO2e per ounce of silver equivalent produced.

How much did GoGold spend on local purchases in 2023?

GoGold spent $17.2 million USD on local purchases in 2023.

What was GoGold's carbon footprint per ounce of silver produced in 2023?

GoGold's carbon footprint was 0.006 tons of CO2 equivalent per ounce of silver produced in 2023.

What is the significance of the ESR distinction awarded to GoGold?

The ESR distinction recognizes GoGold's commitment to corporate social responsibility and sustainable practices.

How many hours of safety and professional development training did GoGold conduct in 2023?

GoGold conducted over 12,000 hours of safety and professional development training in 2023, an increase of 8% from the previous year.