GoGold Resources Inc. reported, after a long period of due diligence and negotiations, the signing of an option agreement to acquire 29 concessions for a large-scale exploration project, named Los Ricos located in Jalisco state, Mexico. The Property is being optioned from private Mexican owners. The Los Ricos property is made up of 29 claims and covers over 22,000 hectares and is home to several historical mining operations. The Property is located roughly 100 km northwest of the city of Gaudalajara and is easily accessible by paved road. There are 65 historical drill holes on the Property and the majority of them intercepted mineralization from near surface. As part of the option agreement to consolidate the concessions of this large-scale exploration property, the Company will make the following payments: upfront payment of $70,000; monthly payments of $12,000 for the first 12 months; monthly payments of $20,000 for months 13 to 24; monthly payments of $30,000 for months 25 to 36; monthly payments of $31,500 for months 37 to 60; 2% net smelter return royalty on five of the concessions; If the company elects to exercise the option, a lump sum payment not to exceed $11 million can be made at any time within the six year option period. During the five-year period, the Company will have exclusive exploration rights to the Property. The Company has completed several kilometers of trenching over the past three months and is drilling the Property to verify and add to the current internal resource on the Property. The Company will also drill to test the Company's geological theories for the Property. The Los Ricos property has been well known to have strong geological potential, but the development of the asset had been delayed as a result of litigation. In 2016 the Mexican courts awarded title to the Property to the private Mexican owners that are optioning the Property to the company. Recently there have been several Mexican court decisions that have dismissed appeals that challenged the 2016 Mexican court decision. On the basis of legal opinions obtained from Mexican legal counsel, the company is confident that any pending or future appeals to the 2016 decision of the Mexican courts will be dismissed as prior appeals were.