Goldgroup Completes Sale of Pinos Project

Rhea-AI Summary

Goldgroup (OTCQX:GGAZF) has completed the sale of Minera Apolo, owner of 100% of the Pinos gold/silver project, for US$5,000,000 payable in stages: US$2,450,000 on signing, US$550,000 on closing and US$2,000,000 within six months secured by a promissory note.

The Purchaser assumed all project liabilities, including US$400,000 payable under the original purchase agreement and US$1,500,000 owed to previous owners; previous owners released Goldgroup from further recourse. Pinos covers 3,816 hectares across 30 contiguous concessions in Zacatecas. Goldgroup also engaged Investing News Network for a six-month C$30,000 digital investor campaign (Nov 15, 2025–May 15, 2026).

Positive

• Completed asset sale for US$5,000,000 with staged payments
• Purchaser assumed US$1,900,000 of project-related liabilities
• Pinos divests 30 concessions totaling 3,816 hectares
• Engaged INN for investor outreach under a six-month C$30,000 campaign

Negative

• Final payment of US$2,000,000 due within six months exposes contingent cash timing
• Sale triggered US$1,500,000 debt payable to prior Apolo owners

VANCOUVER, BC / ACCESS Newswire / February 27, 2026 / Goldgroup Mining Inc. ("Goldgroup" or the "Company") (TSXV:GGA)(OTCQX:GGAZF).

Goldgroup announces that, further to its news release dated December 31, 2025, it has completed the sale of Minera Apolo, S.A. de C.V. ("Apolo"), which owns all the issued and outstanding shares of Minera Catanava, S.A. de C.V. ("MC"), to a private arm's-length British Columbia company (the "Purchaser") in consideration of the payment to Goldgroup of US$5,000,000 in stages, with US$2,450,000 paid on signing, US$550,000 paid on closing and US$2,000,000 to be paid within six (6) months following the closing, which payment is secured by a promissory note.

Apolo and MC collectively hold a 100% interest in the Pinos gold/silver project ("Pinos") located in Zacatecas State, the second largest mining state in Mexico. Pinos comprises 30 contiguous mining concessions over 3,816 hectares. The sale of Apolo is an arm's length transaction and no finder's fees were paid in connection therewith.

Further, the Purchaser has assumed all liabilities of Goldgroup associated with Apolo, MC and the Pinos project, including the assumption of US$400,000 remaining payable on the original purchase agreement in addition to debt in the amount of US$1,500,000 payable to the previous owners of Apolo that was triggered by the sale of Apolo. Goldgroup, the Purchaser and the previous owners of Apolo have also entered into an assumption and acknowledgement agreement under which the previous owners acknowledge and agree that they will have no further recourse against Goldgroup for any liabilities related to Apolo, MC and the Pinos project, all of which have been assumed by the Purchaser.

Engagement of Investing News Network

Goldgroup also announces that it has entered into an investing news campaign agreement (the "INN Agreement") with Dig Media Inc. dba Investing News Network ("INN").

Pursuant to the INN Agreement, INN will execute a six-month digital marketing and investor outreach campaign which will include investor lead generation, press release syndication, targeted advertising across selected channels and newsletters, and participation in sector reports and interviews to increase the Company's visibility with investors.

INN publishes investor-focused news and educational content and has an office at 1166 Alberni Street, Suite 1201, Vancouver, British Columbia, V7X 1L3. Mike Rodger will provide services on behalf of INN. The campaign was launched on or before November 15, 2025 and will continue through to May 15, 2026, pursuant to which INN will receive C$30,000 plus GST. The services will be conducted in accordance with applicable TSX Venture Exchange ("TSXV") policies. INN and Mike Rodger are arm's length to the Company and have no other relationship with the Company other than under the INN Agreement. The INN Agreement has been accepted by the TSXV.

About Goldgroup

Goldgroup is a Canadian-based mining Company with two high-growth gold assets in Mexico. In addition to the San Francisco gold mine, the Company has a 100% interest in the producing Cerro Prieto heap-leach gold mine located in the State of Sonora. An optimization and exploration program is underway at Cerro Prieto to significantly increase existing production and resources. The acquisition of Molimentales del Noroeste, S.A. de C.V. ("Molimentales"), the owner of the San Francisco gold mine is subject to final approval from the TSXV.

Goldgroup is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance, and exploration in Mexico.

For further information on Goldgroup, please visit www.goldgroupmining.com

On behalf of the Board of Directors

"Ralph Shearing"

Ralph Shearing, CEO

For more information:
+1 (604) 306-6867
410 - 1111 Melville St.
Vancouver, BC, V6E 3V6
www.goldgroupmining.com
ir@goldgroupmining.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

CAUTIONARY NOTES REGARDING FORWARD-LOOKING INFORMATION

Certain information contained in this news release, including any information relating to future financial or operating performance, may be considered "forward-looking information" (within the meaning of applicable Canadian securities law) and "forward-looking statements" (within the meaning of the United States Private Securities Litigation Reform Act of 1995). These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Actual results could differ materially from the conclusions, forecasts and projections contained in such forward-looking information.

These forward-looking statements reflect Goldgroup's current internal projections, expectations or beliefs and are based on information currently available to Goldgroup. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to materially differ from those reflected in the forward-looking information, and are developed based on assumptions about such risks, uncertainties and other factors including, without limitation: receipt of all required TSXV, regulatory and other interested party approvals; uncertainties related to actual capital costs operating costs and expenditures; production schedules and economic returns from Goldgroup's projects; timing to integrate acquisitions (San Francisco Mine) and timing to complete additional exploration and technical reports; uncertainties associated with development activities; uncertainties inherent in the estimation of mineral resources and precious metal recoveries; uncertainties related to current global economic conditions; fluctuations in precious and base metal prices; uncertainties related to the availability of future financing; potential difficulties with joint venture partners; risks that Goldgroup's title to its property could be challenged; political and country risk; risks associated with Goldgroup being subject to government regulation; risks associated with surface rights; environmental risks; Goldgroup's need to attract and retain qualified personnel; risks associated with potential conflicts of interest; Goldgroup's lack of experience in overseeing the construction of a mining project; risks related to the integration of businesses and assets acquired by Goldgroup; uncertainties related to the competitiveness of the mining industry; risk associated with theft; risk of water shortages and risks associated with competition for water; uninsured risks and inadequate insurance coverage; risks associated with potential legal proceedings; risks associated with community relations; outside contractor risks; risks related to archaeological sites; foreign currency risks; risks associated with security and human rights; and risks related to the need for reclamation activities on Goldgroup's properties, as well as the risk factors disclosed in Goldgroup's MD&A. Any and all of the forward-looking information contained in this news release is qualified by these cautionary statements.

Although Goldgroup believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Goldgroup expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except as may be required by, and in accordance with, applicable securities laws.

SOURCE: Goldgroup Mining, Inc.

View the original press release on ACCESS Newswire

FAQ

What were the payment terms for Goldgroup's sale of the Pinos project (GGAZF) on Feb 27, 2026?

Goldgroup received US$5,000,000 in staged payments: US$2,450,000 on signing, US$550,000 on closing, and US$2,000,000 due within six months. According to the company, the final amount is secured by a promissory note and paid to Goldgroup in stages.

Who assumed liabilities after Goldgroup sold Apolo/MC and what amounts were involved for GGAZF?

The Purchaser assumed all liabilities, including US$400,000 remaining under the original purchase agreement and US$1,500,000 owed to prior owners. According to the company, previous owners agreed they have no further recourse against Goldgroup.

What does the Pinos project comprise and where is it located for GGAZF shareholders?

Pinos comprises 30 contiguous mining concessions covering 3,816 hectares

How will the INN marketing agreement affect Goldgroup's investor visibility and cost (GGAZF)?

Goldgroup engaged Investing News Network for a six-month digital campaign costing C$30,000 plus GST. According to the company, services include lead generation, press syndication, targeted ads, newsletters, sector reports and interviews to increase investor visibility.

Did Goldgroup pay any finder's fees or retain recourse after the sale of Pinos (GGAZF)?

No finder's fees were paid and previous owners waived further recourse against Goldgroup. According to the company, the sale was arm's length and the assumption and acknowledgement agreement removes Goldgroup from future Apolo-related liabilities.

What is the timing and security for the final payment to Goldgroup for the Pinos sale (GGAZF)?

The final US$2,000,000 payment is due within six months of closing and is secured by a promissory note. According to the company, that promissory note secures the remaining staged payment to Goldgroup.