TSX:GGD

A Canadian-based gold and silver producer
with properties in Mexico

GoGold Resources Retains Sigorex Management For IR Services In Europe

NEWS RELEASE

May 2, 2011

Trading Symbol:  TSX-V: GGD
Shares Issued:  55,716,665

 


GoGold Resources Retains Sigorex Management For IR Services In Europe




HALIFAX, NOVA SCOTIA -- (CNW – May 2, 2011) - Terry Coughlan, President and CEO of GoGold Resources Inc. ("GoGold" or the “Company”, TSXV:GGD), is pleased to announce that it has retained the services of German-based Sigorex Management GmbH ("Sigorex") as a consultant to provide investor relations activities in Europe.

Sigorex is a German-based investor relations company in operation since 2004 and whose Managing Director is Markus Kaempf. Both Sigorex and Mr. Kaempf are at arm’s length to the Company and neither currently own any common shares of the Company. GoGold has entered into a contract with Sigorex for a term of six months that may be extended on mutual consent for a further six months. In consideration for Sigorex's services, GoGold Resources Inc. has agreed to pay a fee of 20,000 Euros in two equal payments, one on contract signing and another after three months. The funds will be sourced from working capital. Sigorex will assist the Company in developing communications packages, organizing and making presentations, representing the Company at trade shows, liaising with the investment community, introducing the management of the Company to investors and assisting in the presentation of information to those potential investors.

The Company also announces the granting of 100,000 incentive stock options to Sigorex under the Company’s Stock Option Plan. The options are exercisable at a price of $0.85 per share and vest one-half in six months and the final half in one year from the Effective Date. The options will expire eighteen months from the Effective Date.

Terry Coughlan stated, “I am confident that engaging Sigorex, a quality organization with a proven track record, will further enhance the image and awareness of GoGold Resources within the European capital markets. Combined with our strategic North American investor relations efforts, this new contract with Sigorex will continue to advance our investor relations on a global scale.”

For further information please contact:
Terence F. Coughlan, President,
GoGold Resources Inc.,
T: 902 482-1998
F:  902 442-1898
or visit GoGold’s website at: www.gogoldresources.com

 

CAUTIONARY STATEMENT:

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.

(Not for distribution to US wire services or for dissemination in the United States of America)