Goldgroup Mining (TSXV/NYSE American: GORO) reported progress at its 100%-owned San Francisco Gold Project in Sonora, Mexico, a formerly producing open-pit mine with existing infrastructure and permits. The project hosts Measured and Indicated Mineral Resources totaling approximately 1.23 million ounces of gold, plus Inferred resources of about 178,000 ounces (effective April 30, 2026).
The company has started a 26,053‑metre diamond drill program, aimed at upgrading and confirming resources, improving the geological model, testing extensions around existing pits and supporting metallurgical work and mine-plan optimization, with completion expected in Q4 2026. In parallel, Goldgroup is advancing a technical study to evaluate potential restart scenarios using existing infrastructure.
Exploration upside includes the El Llano target, where the current technical report outlines a conceptual exploration target of 40–78 million tonnes grading 0.38–0.61 g/t Au, which is not yet a Mineral Resource. Goldgroup also entered short‑term investor marketing agreements: a 30‑day deal with Milestone Capital for EUR 250,000, and a three‑month digital marketing contract with Sideways Frequency for USD 800,000, both subject to TSX Venture Exchange acceptance.
Goldgroup Mining (TSXV: GORO, NYSE American: GORO) announced a leadership transition as it integrates a recent merger and advances its growth strategy. Effective immediately, Board Chair Javier Reyes has been appointed Interim CEO, while the Board conducts a comprehensive search for a permanent chief executive.
Former President and CEO Allen Palmiere will step down from his role and is expected to remain in an advisory capacity to support an orderly transition. According to Goldgroup, the company’s strategic direction remains unchanged as it focuses on optimizing the Don David Mine, advancing the San Francisco restart strategy, pursuing growth at Cerro Prieto, and progressing the Back Forty Project across its diversified portfolio of producing and development-stage precious metals assets.
Goldgroup (TSXV/NYSE American: GORO) provides a corporate update following its merger with Gold Resource, outlining an accelerated growth and exploration strategy across multiple assets. The company has launched a new website showcasing its enlarged portfolio of producing mines, development projects and exploration properties.
At the 100% owned Don David Mine in Oaxaca, Goldgroup has completed over 23,000 metres of drilling year-to-date, using six underground and one surface rig, focused on resource upgrades and expansion. Drilling is expected to start this quarter at the Margaritas target, where historic work identified high-grade silver epithermal veins.
Three rigs are executing a 24,000-metre diamond drill program at the fully permitted San Francisco project in Sonora as the company evaluates a potential production restart at year-end. At Cerro Prieto, three rigs are advancing resource expansion and confirmatory drilling, while a feasibility study for the Back Forty project in Michigan began in May under SLR Engineering. According to Goldgroup, Don David operations are performing in line with expectations, and recent share trading has been influenced by index rebalancing activity.
Goldgroup Mining (NYSE American: GORO, TSXV: GGA) filed an updated NI 43-101 technical report for its San Francisco Project in Sonora, Mexico, effective April 30, 2026 and dated July 16, 2026. The report, available on SEDAR+, adds author Mohsin Hashmi, includes more pre-2022 drilling information, and makes form updates, with no changes to the previously disclosed mineral resource estimate.
Goldgroup Mining (TSX-V: GGA; OTC: GGAZD) and Gold Resource Corporation (NYSE American: GORO) closed their previously announced merger under an Arrangement Agreement and Plan of Merger dated January 25, 2026, as amended May 15, 2026. GRC merged with Goldgroup Merger Sub, with GRC surviving as a wholly owned subsidiary of Goldgroup. GRC shareholders are entitled to receive 0.3619 Goldgroup common shares for each GRC share.
The merger received shareholder approvals on July 2, 2026, Mexican NAC approval on April 23, 2026, final court approval on July 6, 2026, and TSX Venture Exchange approval. GRC will be delisted from the NYSE American around July 20, 2026, after which Goldgroup expects to trade on NYSE American under “GORO” and change its TSX-V symbol from “GGA” to “GORO” around July 22, 2026. Goldgroup’s board and management have been reconstituted, including the appointment of Allen Palmiere as President and CEO.
Gold Resource (NYSE American: GORO) reported that FTSE Russell has notified the company that, following its previously announced merger with Goldgroup Mining, the combined company will be ineligible for inclusion in the Russell 2000 Comprehensive Factor Index starting July 20, 2026. FTSE Russell’s decision is described as stemming from Goldgroup’s Canadian home country indicators, which do not meet the index family’s nationality eligibility requirements.
According to Gold Resource, the company had been added to certain Russell indexes effective after the close on June 26, 2026 as part of the regular Russell U.S. index reconstitution. The merger remains subject to required approvals and closing conditions and is expected to close after the market close on July 17, 2026.
Goldgroup Mining (TSX-V: GGA; OTC: GGAZD) and Gold Resource Corporation (NYSE American: GORO) announced that, subject to all required approvals and closing conditions for their previously announced merger, Goldgroup’s common shares are expected to trade on the NYSE American under the ticker symbol “GORO”.
According to Goldgroup, the merger is expected to close after market close on July 17, 2026. Following closing, Goldgroup’s shares are expected to begin trading on the NYSE American and GRC’s common stock is expected to be delisted from the NYSE American, in each case prior to the market open on July 20, 2026. Goldgroup’s common shares are also expected to cease quotation on the OTC Markets once NYSE American trading begins.