Mr. Ralph Shearing reports

GOLDGROUP ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Goldgroup Mining Inc. has closed the $4-million non brokered private placement, previously announced on Aug. 22, 2025, and Aug. 28, 2025.

Goldgroup sold on a non-brokered private placement basis 4,848,485 units of the company at a price of 82.5 cents per unit for aggregate gross proceeds of $4-million. Each unit comprises one common share and one common share purchase warrant. Each warrant is exercisable into one common share at a price of $1.05 per share until Sept. 12, 2027.

The company paid cash finders' fees of $182,505, issued 201,718 finders' warrants and 1,086,187 finders' units to finders in connection with the private placement. Each finder's unit consists of one common share and one common share purchase warrant, with each warrant being exercisable to purchase one common share at a price of $1.05 until Sept. 12, 2027.

The net proceeds from this private placement will be primarily dedicated to the diligent assessment and strategic pursuit of acquisition opportunities. With a focus on enhancing shareholder value, the company aims to leverage these funds to acquire promising mining assets, potentially including operating mines or strategic stakes in other mining companies. The company cautions that it has been searching for and conducting due diligence on mineral projects that management believes would enhance the company's portfolio of existing projects for some time and investors should be aware that the process for completing a transaction in most circumstances can take many months. Even if a suitable target is identified and due diligence satisfactorily completed, there are numerous hurdles, including entering into definitive agreements and obtaining shareholder and TSX Venture Exchange approval, that must be achieved to complete an acquisition transaction, such that there is no assurance that the company will be able to make a major acquisition in the short term.

All securities issued pursuant to the private placement will be subject to statutory hold periods expiring Jan. 13, 2026. Closing of the private placement is subject to final approval of the TSX Venture Exchange.

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.

In addition, the company holds a 100-per-cent interest in the Pinos underground gold development project in Zacatecas state. Pinos is an advanced PEA-level (preliminary economic assessment) development project. Formerly a producing mine, the company is commissioning an updated PEA with a view to restarting mining operations.

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.