Mr. Ralph Shearing reports

GOLDGROUP FILES UPDATED TECHNICAL REPORT ON SAN FRANCISCO GOLD PROJECT

Goldgroup Mining Inc. has filed an updated National Instrument 43-101 technical report on the company's 100-per-cent-owned San Francisco gold project located in Sonora, Mexico. The report highlights a robust project with significant gold resources and strong upside potential:

• Current measured and indicated (M&I) resources are 1,226,000 ounces gold and an additional 178,000 inferred oz. See resource estimate table below.
• Additionally, the technical report states that the moderately drilled El Llano zone, contiguous to the San Francisco pit, presents an exploration target based on widespread drilling potentially containing between 40 million tonnes at 0.61 gram per tonne Au (possible 788,000 oz Au) to 78 million tonnes at 0.38 g/t Au (possible 960,000 oz Au). These potential quantity and grades are conceptual in nature, and there has been insufficient exploration drilling to define a compliant mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
• The San Francisco project is fully permitted for a rapid restart of mining operations and is comprised of two open pits with historic production up to 2023 (San Francisco and La Chicharra), together with heap leach processing facilities and associated infrastructure located close to the San Francisco pit.
• Historic production from the project between 2010 to 2023, before being acquired by Goldgroup, was 1,299,502 ounces. The project still contains significant current gold resources ounces, as outlined herein, and excellent potential to discover additional resources within its mining concessions.
• The San Francisco deposits are roughly tabular with multiple phases of gold mineralization with gold occurring principally as free gold. The deposits strike 60 degrees to 65 degrees west, dip to the northeast, range in thickness from four to 50 metres (m), extend over 1,500 m along strike and are open along strike.
• There have been no processing factors or deleterious elements identified that have had a material negative effect on historic economic extraction. Gold is recovered from the mineralization mined from the San Francisco and La Chicharra deposits by using conventional crushing and heap leach technology.
• An extensive database of 668,051 m of drilling for the entire property, including exploration drilling outside the San Francisco and La Chicharra pits. This large drilling database is a valuable asset as it directly underpins the understanding of the deposits and supports a robust geological model as well as future exploration and expansion planning.

Ralph Shearing, chief executive officer, commented: "San Francisco is a company-building project. I'm excited about the possibility of quickly putting this project back into production and, I believe, at one of the lowest costs to reach significant gold production within the industry given the infrastructure and development already in place. We are planning a rapid deployment of drill rigs to initiate infill drilling to reduce historic drill spacing and thereby develop an optimized mine plan. Concurrently, we will work towards bringing crushing equipment, ADR gold recovery plant and the general mine, all idle since 2023, back to operational status targeting a possible restart of mining operations and gold production late 2026 or early 2027."

The technical report by Micon International is entitled, "NI 43-101 Technical Report for the San Francisco Project, Sonora, Mexico" with an effective date of April 30, 2026. The report was prepared by William J. Lewis, BSc, PGeo, Richard M. Gowans, PEng, and Tudorel Ciuculescu, BSc, MSc, PGeo, and is available for viewing on SEDAR+ under the Goldgroup Mining profile or on the company's website.

About Goldgroup Mining Inc.

Goldgroup is a Canadian-based mining company with two high-growth gold assets in Mexico. In addition to the San Francisco gold project, the company has a 100-per-cent interest in the producing Cerro Prieto heap-leach gold mine located in the state of Sonora. The company recently announced a proposed business combination with Gold Resource Corp., which holds a 100-per-cent interest in the producing Don David gold mine in Oaxaca, Mexico, as well as the Back Forty gold/silver development project in Michigan, United States.

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

The technical contents of this release have been reviewed and approved by Dr. Craig Gibson, PhD, CPG, an independent qualified person under National Instrument 43-101.

We seek Safe Harbor.