Mr. Ralph Shearing reports

GOLDGROUP FILES UPDATED TECHNICAL REPORT ON CERRO PRIETO PROJECT

Goldgroup Mining Inc. has filed an updated National Instrument 43-101 technical report on the Cerro Prieto gold project located in Sonora state, Mexico. The report is entitled "Cerro Prieto Project, Heap Leach Project, Magdalena de Kino, State of Sonora, Mexico," with an effective date of April 4, 2025. The report, prepared by Rodrigo R. Carneiro, MSc, qualified person, SME registered member, Jose Antonio Olmedo, MSc, PEng, Geo, QP, SME registered member, and Cristian Garcia, PEng, QP, Registered at Engineers and Geoscientists of British Columbia, independent of the company. The report is available for viewing on SEDAR+.

The report provides independent assessment of the mineral resources estimates of the Esperanzas deposit within the Cerro Prieto mine, which includes La Esperanza and Nueva Esperanza contiguous zones. The company owns 100 per cent of the 6,980 hectares of mining concessions and has been in production since 2013. Approximately 136,000 ounces of gold have been produced over 11 years up to Sept. 30, 2025. Annual production over the past two years from Sept. 30, 2025, through open-pit mining with crushing capacity of 2,400 tonnes per day at Cerro Prieto mine was 8,174 ounces of gold.

The company recently installed a second crushing circuit, which has doubled crushing capacity to over 4,200 tonnes per day, which will help to facilitate its objective of significantly increasing gold production.

The report highlights the potential of the Esperanzas deposit area and other nearby targets. Goldgroup has commenced exploration of these areas, and has, as well, begun preparations for tailings reprocessing, an important optimization initiative to further increase gold production at the mine.

The following table presents the resource National Instrument 43-101 assessment of measured and indicated resources at the Esperanzas deposit at a cut-off grade of 0.20 gram per tonne gold. The inferred resource estimate at the Esperanzas deposit is below.

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.

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

Qualified person

Preparation of the technical data in this document was supervised and approved by Rodrigo R. Carneiro, MSc, QP, SME registered member, an independent qualified person under National Instrument 43-101.

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