Gogold Resources Inc. Shareholders vote 99.98% in favor of the Absolute Gold Acquisition

Trading Symbol: TSX-V: GGD
Shares Issued: 61,058,331

/NOT FOR DISTRIBUTION TO US WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

HALIFAX, July 20, 2012 /CNW/ - Terry Coughlan, President and CEO of GoGold Resources Inc. ("GoGold" or the "Company") (TSXV: GGD), is pleased to report that the shareholders of GoGold ("GoGold Shareholders") voted 99.98% in favour of the acquisition (the "Acquisition") of Absolute Gold Holdings Incorporated ("Absolute Gold") at a special meeting held in Halifax, Nova Scotia today. A total of 50,748,753 shares were voted in favour of the special resolution with 7,000 shares voted against.

GoGold had determined that the Acquisition should also be approved by a majority of the minority GoGold Shareholders, excluding the 13,993,000 shares held by Absolute Gold principals.  A total of 36,755,553 or 99.98% of the shares voted by minority GoGold Shareholders were voted in favour of the special resolution with 7,000 shares voted against.

The Acquisition was previously unanimously approved by the shareholders of Absolute Gold on June 22, 2012.  The plan of arrangement to effect the Acquisition was approved by the Nova Scotia Supreme Court on June 27, 2012.

The Company expects the Acquisition to close within the next fourteen days.

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.

SOURCE GOGOLD RESOURCES INC.