Goldgroup Mining Inc. provided an update to mining operations at its 100%-owned Cerro Prieto open-pit, heap leach gold mine located in Sonora, Mexico. Cerro Prieto Mine: The Cerro Prieto Mine is an open pit heap leach gold mine located in Sonora, Mexico. Goldgroup commenced mining operations at Cerro Prieto in 2013 based upon a measured and indicated resource of 8,220,000 metric tonnes of 0.81 g/t Au, 17.22 g/t Ag, 0.21% Pb and 0.54% Zn, published in a 2013 technical report.

These resources have been fully exploited as of mid-2023 whereafter, the company mined additional mineralization identified during subsequent exploration but not yet included in a published resource calculation (under NI 43-101). From the start of mining operations in 2013 to-date, Cerro Prieto has produced 117,033 ounces of gold. Ongoing mining operations continue to produce approximately 1,000 ­ 1,200 ounces of gold monthly.

Cumbre ­ Esperanzas Zones 2023 Exploration Drilling: Highlights of some significant drill hole intersections: DDH CP362: 19.70 meters at 1.03 g/t Gold and, 5.5 meters at 0.75 g/t Gold; 20.98 meters at 1.02 g/t Gold. DDH CP374: 13.20 meters at 2.05 g/t Gold and 4.50 meters at 1.16 g/t Gold and 1.55 meters at 4.78 g/t Gold. DDH CP367: 24.96 meters at 0.69 g/t Gold and, 7.70 meters at 1.35 g/t Gold and 17.97 meters at 1.13 g/t Gold and 11.80 meters at 0.61 g/t Gold.

DDH CP 371: 4.25 meters at 1.07 g/t Gold and 7.78 meters at 0.98 g/t Gold and 11.67 meters at 1.16 g/t Gold and 9.22 meters at 0.92 g/t Gold. DDH CP384: 13.70 meters at 1.15 g/t Gold. DDH CP 388: 13.20 meters at 1.33 g/t Gold.

DDH CP 389: 12,20 meters at 0.77 g/t Gold. DDH CP 406: 43.89 meters at 0.43 g/t Gold and 9.05 meters at 0.93 g/t Gold.