An anonymous director reports

GOLDGROUP ANNOUNCES SETTLEMENT OF LOAN

Further to the company's news release dated June 15, 2023, Goldgroup Mining Inc. has received minority shareholder approval at the company's annual general and special meeting held on June 28, 2023, in connection with the settlement of a loan obtained from Accendo Banco SA, multiple banking institution, in 2020 and subsequently acquired by Minera Cerro Esperanza SA de CV. Further to the approval from the company's shareholders in connection with the settlement of the Accendo loan, the company has entered into the settlement agreement and exploitation and option to purchase agreement with MER as at July 1, 2023, pursuant to which the company is in the process of delivering the assets of its subsidiary, Minas de Oroco SA de CV, to MER in full satisfaction of the Accendo loan and the company will continue operating the assets of Minas de Oroco with the option to purchase the assets in the future.

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.

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