GoGold Resources Inc. announces sale of Santa Gertrudis project to Agnico Eagle Mines Limited for US$80 million

GoGold Resources Inc. (“GoGold” or the “Company”) (TSX:GGD) is pleased to announce that it has entered into definitive agreements (the “Agreements”) with Agnico Eagle Mines Limited (“Agnico”) to sell its interest in the Santa Gertrudis gold project (the “Project”), located in Sonora, Mexico (the “Transaction”).
As quoted in the press release:

Brad Langille, President and CEO of GoGold stated, “We are very pleased to announce this Transaction with Agnico Eagle. We believe it demonstrates the value generated and progress made at Santa Gertrudis by the GoGold team since acquiring the Project in 2014. Agnico Eagle has a strong track record of advancing and developing projects and we believe GoGold shareholders are well positioned to benefit from the future potential of the Project through our retained royalty. The Transaction will enable GoGold to significantly strengthen the Company’s balance sheet through repayment of our senior revolving credit facility, position the Company well as the Parral Tailings project ramps up to its full potential, while also allowing us to continue to pursue further opportunities in Mexico and beyond.”

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