Mr. Ralph Shearing reports

GOLDGROUP REPORTS ON CERRO PRIETO OPTIMIZATION PROGRAM

Goldgroup Mining Inc. has successfully installed a second crushing circuit at its 100-per-cent-owned Cerro Prieto gold mine in Sonora, Mexico, which has doubled crushing capacity to over 4,500 tonnes per day. Goldgroup's new mining contractor is now more than doubling mine production.

Mine production expansion

Increasing the crushing capacity at Cerro Prieto offers the potential for enhanced throughput and productivity through higher processing volumes with more material being crushed daily. Higher crushing capacity will allow the company to reach its gold production goals, targeting over 24,000 ounces annually from the company's enhanced mine production. Additional gold production of up to 8,000 ounces annually is planned by initiating a releaching project as described below.

Boosting crushing capacity is a foundational move that unlocks efficiency across the entire operation. It is one of several strategic and operational opportunities that can significantly increase productivity, efficiency and profitability at Cerro Prieto.

Releaching of heap leach pads

Another key element of the optimization plan at the Cerro Prieto mine is releaching the existing heap leach pads. The mine has been in production since 2013 accumulating over 10 million tonnes of mineralized material on the leach pads. A July, 2025, independent engineering study prepared by Anddes Mexico S.A. de C.V. indicated that recovery of residual gold within the leach pads by releaching is economically feasible. The company intends to implement the releaching project with equipment sourcing and installation, leach pad permitting, and financing over the coming months, targeting initial production from releaching during the first quarter of 2026.

Continuing exploration

Exploration and resource expansion are the third key element of the optimization plan for Cerro Prieto. Continuing exploration of advanced gold zones, as well as newly discovered zones, has the potential to substantially extend the mine life. Objectives of the exploration program are to not only delineate additional resources to immediately add to the mine plan, but to possibly enable significantly increased annual production. Past production in recent years was approximately 11,500 ounces of gold annually, and the company is targeting more than doubling this from continuing mining operations and further increasing gold production once the releaching project becomes operational.

Ralph Shearing, chief executive officer, commented: "The Goldgroup team is committed to increasing gold output from the Cerro Prieto mine. Successfully adding a second crushing circuit at Cerro Prieto is an important milestone towards that goal. Cerro Prieto has been a good, steady operation for the company for years and we are determined to optimize it to its maximum potential. In addition to Cerro Prieto, we have the newly acquired Pinos gold development project in Zacatecas state, Mexico. We continue to position ourselves for significant expansion through targeted acquisitions in the mining sector."

Corporate update

The company also announces that it has entered into a media services agreement with Market One Media Group. Located in Vancouver and Toronto, Market One is a multiplatform media solution for the capital markets operating in editorial, video and digital media. The media message is distributed via broadcast, digital and social media channels, including media platforms such as BNN Bloomberg. Market One's engagement is for a term of 12 months. The company will pay Market One a fee of $100,000 plus goods and services tax for the services provided.

Update to finders' fees disclosure

In the company's Sept. 12, 2025, news release announcing the closing of a non-brokered private placement, the company stated it paid cash finders' fees of $182,505, issued 201,718 finders' warrants and 1,086,187 finders' units to finders in connection with the private placement. The company would like to clarify that it only issued 78,013 finders' units as opposed to the 1,086,187 previously disclosed. Each finder's unit consists of one common share and one common share purchase warrant, with each warrant being exercisable to purchase one common share at a price of $1.05 until Sept. 12, 2027.

About Goldgroup Mining Inc.

Goldgroup is a Canadian-based mining company with two high-growth gold assets in Mexico. The company has a 100-per-cent interest in the producing Cerro Prieto heap leach gold mine, located in the state of Sonora. An optimization and exploration program is under way at Cerro Prieto to significantly increase existing production and resources.

In addition, the company holds a 100-per-cent interest in the large Pinos underground gold development project in Zacatecas state. Pinos is an advanced PEA-level (preliminary economic assessment) development project.

Goldgroup is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance and exploration in Mexico.

We seek Safe Harbor.