Goldgroup installs second Cerro Prieto crushing circuit

Executive Summary

• Goldgroup Mining installed a second crushing circuit at Cerro Prieto, doubling capacity to >4,500 t/d and enabling production targets of >24,000 oz Au annually.
• The company announced a releaching project on existing heap‑leach pads, with initial production expected in Q1 2026, potentially adding up to 8,000 oz Au per year.
• A media services agreement was entered into with Market One Media Group for a 12‑month term at a fee of $100,000 (plus GST).

Key Details

• Crushing Capacity: Second circuit installed; total capacity now >4,500 tonnes per day.
• Production Goal: Targeting >24,000 oz Au annually from enhanced mine production.
• Releaching Project:
• Independent study (Anddes Mexico S.A. de C.V., July 2025) confirms economic feasibility of residual gold recovery.
• Equipment sourcing, permitting, and financing to occur over coming months.
• Initial releach output targeted for Q1 2026; up to 8,000 oz Au additional annual production anticipated.
• Exploration Program: Ongoing work on advanced and newly discovered zones to expand resources and potentially double current annual output (≈11,500 oz Au).
• Historical Production: Approx. 11,500 oz Au per year in recent years.
• Media Services Agreement:
• Partner: Market One Media Group (Vancouver/Toronto).
• Term: 12 months; fee $100,000 plus GST.
• Finder’s Fees Disclosure Update: Corrected prior release – only 78,013 finder units issued (each unit = 1 common share + 1 warrant at $1.05, exercisable until Sept 12 2027).

Notable Quotes

“The Goldgroup team is committed to increasing gold output from the Cerro Prieto mine… Successfully adding a second crushing circuit … is an important milestone towards that goal.” – Ralph Shearing, CEO

Materiality: Material – Positive (significant operational expansion and production upside).