Mr. Ralph Shearing reports

GOLDGROUP REPORTS CONTRACTOR FATALITY AT CERRO PRIETO MINE

Goldgroup Mining Inc. had a fatality at its Cerro Prieto mine in Sonora, Mexico, late evening, local time, March 5, 2024. In an isolated incident, a mining contractor's dozer operator was fatally injured while operating a D8 dozer.

"It is with deep sadness that we report the tragic loss of a contractor colleague. Our thoughts are with the family, friends and our Cerro Prieto team at this difficult time. The safety of our employees and contractors remains our top priority," said Ralph Shearing, chief executive officer of Goldgroup.

Relevant regulatory authorities have been notified and attended the site to investigate. The company will co-operate fully throughout the investigation. Operations at Cerro Prieto's Esperanza pit have been voluntarily temporarily suspended until the conclusion of the investigation.

The company will issue further statements and provide additional information as appropriate.

About Goldgroup Mining Inc.

Goldgroup is a Canadian-based mining company that owns and operates the Cerro Prieto heap-leach gold mine located in the state of Sonora, Mexico, and is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance and exploration in Mexico.