Goldgroup Files Updated Technical Report on Cerro Prieto Project

Executive Summary

• Goldgroup Mining filed an updated NI 43‑101 technical report for the Cerro Prieto gold project, confirming Measured & Indicated resources of 37,209 oz Au at a 0.20 g/t cut‑off.
• The company has doubled crushing capacity to >4,200 t/d with a second circuit, supporting its plan to significantly increase gold production.
• Exploration and tailings re‑processing initiatives are underway to further expand resources and optimize the mine’s output.

Key Details

• Technical Report: “Cerro Prieto Project, Heap Leach Project, Magdalena de Kino, State of Sonora, Mexico” – effective 4 Apr 2025; prepared by independent QPs Rodrigo R. Carneiro MSc, QP, SME; José Antonio Olmedo MSc, P.Eng., QP, SME; and Cristian Garcia, P.Eng., QP.
• Resource Estimates (cut‑off 0.20 g/t Au):
• Measured: 1,212,375 m³ → 2,826,313 t @ 0.370 g/t → 33,954 oz Au
• Indicated: 133,750 m³ → 302,530 t @ 0.330 g/t → 3,255 oz Au
• Measured + Indicated Total: 1,346,125 m³ → 3,128,843 t @ 0.370 g/t → 37,209 oz Au
• Inferred (below cut‑off): 60,750 m³ → 131,536 t @ 0.360 g/t → 1,504 oz Au
• Production History: 136,000 oz Au produced over 11 years to 30 Sep 2025; annual production for the two most recent years was 8,174 oz Au (open‑pit, 2,400 t/d).
• Capacity Expansion: Installation of a second crushing circuit increased total capacity from 2,400 t/d to >4,200 t/d.
• Future Plans: Ongoing exploration of the Esperanzas Deposit and adjacent targets; commencement of tailings re‑processing to boost gold recovery.

Notable Quotes

• Ralph Shearing, CEO: “The updated NI 43‑101 report underscores the significant resource potential at Cerro Prieto and validates our strategy to double crushing capacity and pursue tailings re‑processing as key levers for production growth.”