Mr. Ralph Shearing reports

GOLDGROUP ANNOUNCES 4:1 CONSOLIDATION RATIO AND GRANT OF STOCK OPTIONS

Goldgroup Mining Inc. has confirmed the ratio for the previously announced consolidation of Goldgroup's issued and outstanding common shares without par value. In accordance with the terms of the arrangement agreement and plan of merger dated Jan. 25, 2026, as amended May 15, 2026, Goldgroup and Gold Resource Corp. have jointly determined the ratio of the consolidation to be one postconsolidation Goldgroup share for every four preconsolidation Goldgroup shares.

As set out in the company's information circular dated May 29, 2026, and news releases dated May 15, 2026, and Jan. 26, 2026, the company will complete the consolidation to meet the share price listing requirements of the NYSE American LLC. There can be no assurance that the company's listing application to the NYSE will result in the company's shares being listed for trading thereon. The consolidation is subject to, among other things, the approval of the TSX Venture Exchange, which approval is subject to compliance with the requirements of the TSX-V.

Stock option grant

The company is also pleased to announce the grant of 3.75 million preconsolidation options (937,500 postconsolidation options) to certain directors of the company under its omnibus equity incentive plan. The options are exercisable to acquire 3.75 million Goldgroup shares at an exercise price of $1.55 per Goldgroup share. The options vest immediately and expire three years from the date of grant, subject to the terms and conditions of the omnibus plan. The grant of the options is subject to approval by the TSX-V.

About Goldgroup Mining Inc.

Goldgroup is a Canadian-based mining company with two high-growth gold assets in Mexico. The company holds a 100-per-cent interest in the recently acquired San Francisco project, located in the state of Sonora. The project is fully permitted for a rapid restart of mining operations, and comprises two open pits together with heap leach processing facilities and associated infrastructure. It is a robust project with significant gold resources and strong upside in terms of optimized development and multiple, large-scale exploration targets.

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.

Goldgroup recently announced shareholder approval of a proposed business combination with Gold Resource, 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, U.S. Subject to obtaining all required approvals and the satisfaction or waiver of all required closing conditions, the arrangement is expected to close on or about July 17, 2026.

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.