Mr. Eric Sprott, a shareholder, reports

ERIC SPROTT ANNOUNCES ACQUISITION OF COMMON SHARES OF GOLDGROUP MINING INC.

2176423 Ontario Ltd., a corporation beneficially owned by Eric Sprott, acquired 994,300 units of the Goldgroup Mining Inc., through a private placement, at $3.65 (U.S.) per unit for total consideration of $3,629,195. Each unit consists of one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to acquire one share at $5.10 (U.S.) for 18 months from the date of issuance.

Prior to the acquisition, Mr. Sprott beneficially owned and controlled 10,934,746 shares and 3,963,063 share purchase warrants, representing approximately 8.1 per cent of the outstanding shares on a non-diluted basis and approximately 10.7 per cent of the outstanding shares on a partially diluted basis assuming the exercise of such warrants.

Mr. Sprott now beneficially owns and controls 12,154,046 shares and 4,460,213 warrants representing approximately 7.2 per cent of the outstanding shares on a non-diluted basis and approximately 9.6 per cent on a partially diluted basis assuming the exercise of such warrants. This represents a decrease in holdings of approximately 0.6 per cent on a partially diluted basis from what was reported in the most recent early warning report and a decrease in holdings to less than 10 per cent thereby requiring the filing of an early warning report As a result, Mr. Sprott and 2176423 Ontario ceased to be insiders of Goldgroup Mining.

The units are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Goldgroup Mining including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions, in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Goldgroup Mining is located at 410, 1111 Melville St., Vancouver, B.C., V6E 3V6. A copy of 2176423 Ontario's early warning report will appear on Goldgroup Mining's profile on SEDAR+ and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (2176423 Ontario Ltd., 1106, 7 King St. East, Toronto, Ont., M5C 3C5).