Goldgroup Mining and Gold Resource Corporation Announce Closing of Business Combination and Goldgroup's Anticipated Listing on the NYSE American

Goldgroup Mining Inc. (GGA) completed its merger with Gold Resource Corporation (GRC) after market close on July 17, 2026. Under the terms of the transaction, GRC merged into a wholly owned Goldgroup subsidiary and continues to exist as a subsidiary. GRC shareholders received 0.3619 Goldgroup shares for each GRC share, following the company’s 1-for-4 share consolidation.

Goldgroup will begin trading on the NYSE American under the ticker “GORO” starting July 20, 2026, while GRC will be delisted from the exchange. The TSX‑V ticker will also change to “GORO,” with the change effective around July 22, 2026. The company has appointed new executive management and board members as previously outlined, including Allen Palmiere as CEO, Chet Holyoak as CFO, Armando Alexandri as COO, and five new directors.

All closing conditions for the merger were satisfied, including shareholder approvals obtained on July 2, Mexican antitrust approval received on April 23, BC court approval granted on July 6, and TSX‑V approval. The release serves strictly as a legal closing notice, with no new production, financial, or guidance numbers provided.

Goldgroup Mining Inc. (GGA) completed its merger, a transaction initially announced in January 2026 and amended in May. The deal received overwhelming shareholder approval and cleared all regulatory milestones without incident.

NYSE American trading under the ticker “GORO” has commenced. The market had seven months to price in the combination, and the release contains no new financial or operating figures beyond the final legal consummation. No new guidance or synergies were quantified.

Goldgroup Mining Inc. (ticker “GORO” on NYSE American and TSX‑V) is a Mexico‑focused junior precious metals producer with a diversified portfolio. Its assets include the 100%‑owned Don David Mine in Oaxaca, Mexico, an underground gold‑silver‑copper‑lead‑zinc operation that is currently producing with a 5‑year mine life and exploration upside. The company also owns the Cerro Prieto Mine in Sonora, Mexico, a shallow open‑pit, heap‑leach gold‑silver mine that produces approximately 4,000 oz per quarter, with installed capacity expanded to more than 4,200 tpd.

Additional holdings include the 100%‑owned San Francisco Project in Sonora, a fully permitted past‑producer containing 1.2 moz Measured and Indicated gold, with a restart targeted for late 2026 or early 2027 and a 24,000 m drill program currently underway. The portfolio also features the 100%‑owned Back Forty Project in Michigan, USA, an advanced‑stage VMS gold‑silver‑copper‑zinc deposit with a 9‑year mine life and an after‑tax NPV of $214M at base case, subject to an Osisko stream on silver and gold. The company maintains greenfield exploration in Oaxaca and Sonora, including the El Rey and Margaritas properties, which feature historical high‑grade intercepts.

With two producing assets, one near‑term restart candidate, and a large development project, the company aims to reach more than 250,000 oz AuEq annually in the long term.