Mr. Javier Reyes reports

GOLDGROUP ANNOUNCES THE RESULTS OF ITS ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

Goldgroup Mining Inc. held its annual general meeting of shareholders in Vancouver, B.C., on June 28, 2023.

Common shares represented at the meeting:  10,799,185

Total issued and outstanding common shares as at record date:  28,624,656

Percentage of issued and outstanding common shares represented:  37.73 per cent

The company is pleased to announce that with the shareholder approval of the debt conversion resolution, the company's loan with Calu Opportunity Fund LP, as previously announced on Dec. 12, 2022, is a convertible debt. The convertible debt has a face value of $2.16-million (U.S.) and is unsecured, bears interest at 6 per cent per annum, is repayable on Dec. 31, 2023, and is convertible into common shares of the company at 10 Canadian cents per share at a fixed foreign exchange rate of $1.345 (U.S.) to $1 (Canadian) at the election of Calu until Dec. 31, 2023.

In addition, the company plans to finalize and enter into the debt settlement and option to purchase agreement as approved by the shareholders in short order.

The formal report on voting results with respect to all matters voted upon at the meeting has been filed on SEDAR.

About Goldgroup Mining Inc.

Goldgroup is a Canadian-based gold production, development and exploration company with projects in Mexico, including an interest in DynaResource de Mexico SA de CV, which owns 100 per cent of the high-grade gold exploration project, San Jose de Gracia located in the state of Sinaloa, and the company's 100-per-cent-owned Cerro Prieto heap leach gold mine in the state of Sonora, Mexico.

Goldgroup is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance and exploration in Mexico. Goldgroup's mission is to increase gold production, mineral resources, profitability and cash flow, with a view to building a leading gold producer.

We seek Safe Harbor.