Sept 5 (Reuters) - GoGold Resources Inc
* GOGOLD RESOURCES INC. ANNOUNCES SALE OF SANTA GERTRUDIS PROJECT TO AGNICO EAGLE MINES LIMITED FOR US$80 MILLION
* ENTERED INTO DEFINITIVE AGREEMENTS WITH AGNICO EAGLE MINES TO SELL ITS INTEREST IN SANTA GERTRUDIS GOLD PROJECT
* NET PROCEEDS OF TRANSACTION WILL BE USED TO REPAY COMPANY'S SENIOR REVOLVING CREDIT FACILITY, REDUCE OUTSTANDING TRADE
* AGNICO WILL RETAIN OPTION TO BUY BACK 1% OF NSR FOR US$7.5 MILLION
* TRANSACTION IS NOT SUBJECT TO A SHAREHOLDER VOTE
* AGNICO TO ADVANCE TO GOGOLD A TOTAL OF US$7.5 MILLION IN CASH VIA SUBORDINATED SECURED TERM LOAN BEARING INTEREST AT 10% PER ANNUM