Mr. Ralph Shearing reports

GOLDGROUP COMPLETES ACQUISITION OF FULLY PERMITTED, ADVANCED-STAGE PINOS GOLD PROJECT IN MEXICO

Goldgroup Mining Inc. has closed the previously announced acquisition of a 100-per-cent interest in the fully permitted for construction Pinos gold/silver project located in the highly productive Zacatecas gold and silver mining belt. Zacatecas is the second-largest mining state in Mexico and the location of several world-renowned operations including Newmont's Penasquito and Capstone's Cozamin mines. (See new releases dated March 7, 2025, Jan. 16, 2025, and Aug. 14, 2024.)

Pinos comprises 30 contiguous mining concessions over 3,816 hectares and hosts low-sulphidation epithermal gold and silver vein systems within primary structures related to major regional shears, including multiple high-grade vein structures. Additionally, there is a larger-scale mineralized stockwork target with open-pit potential. Historical production records from 1900 to 1942 show high-grade ore being shipped from Pinos with grades ranging up to 80 grams per tonne gold (September, 2018, National Instrument 43-101 preliminary economic assessment available at SEDAR+ on profile of Candelaria Mining Corp.). The project benefits from excellent infrastructure with paved road access to the site, available power and water, and proximity to skilled labour and mining services.

Ralph Shearing, chief executive officer, commented: "We recognized Pinos as a unique opportunity to acquire a largely derisked, fully permitted, past-producing underground gold mine offering published resources, development potential and exploration upside. Our team excels at recognizing quality undervalued assets and advancing them to their full potential, and we look forward to achieving this with Pinos."

The company's immediate plan for the Pinos asset is to update the 2018 preliminary economic assessment with the objective of determining potential economics in the current robust gold and silver market and, thereafter, advancing the project toward a production decision.

The 2018 PEA was based solely on the Cinco Estrellas vein, which is open in all directions. In addition, there are multiple other vein targets existing on the project, all presenting significant resource expansion potential. A near-mine drill campaign is being planned to assess resource expansion and test additional exploration targets.

The company has received approval from the TSX-V for the Pinos acquisition, and the transaction is closed.

About Goldgroup Mining Inc.

Goldgroup Mining is a Canadian-based mining company operating the Cerro Prieto heap-leach gold mine in Sonora, Mexico. In addition to its producing asset, the company has acquired a 100-per-cent interest in the Pinos project, a fully permitted, high-grade gold deposit with a completed preliminary economic assessment. The company is led by a team of seasoned professionals with extensive expertise in mine development, corporate finance and exploration in Mexico.

Ralph Shearing, PGeol (Alberta), a qualified person under National Instrument 43-101, chief executive officer of the company, has reviewed and approved the technical disclosure contained in this news release.

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