Goldgroup (NYSE: GORO) drills 26km to evaluate Mexico mine restart
Rhea-AI Filing Summary
Goldgroup Mining Inc. (GORO) reports several strategic developments. Javier Reyes, Chair of the Board, was appointed Interim Chief Executive Officer on July 27, 2026, while a comprehensive search for a permanent CEO is underway. Former President and CEO Allen Palmiere is expected to remain in an advisory role to support the transition.
The company became a non-venture issuer on July 20, 2026 through a dual listing on the NYSE American alongside its TSX Venture Exchange listing. At its 100%-owned San Francisco Gold Project in Sonora, Mexico, Goldgroup reports Measured and Indicated Mineral Resources totaling about 1.23 million ounces of gold, plus Inferred Mineral Resources of about 178,000 ounces, and has begun a 26,053‑metre diamond drill program and a technical study to evaluate a potential production restart.
At the Don David Gold Mine complex in Oaxaca, Mexico, Goldgroup completed 25,726 metres of drilling in 123 holes in the seven months ended July 31, 2026, largely focused on infill and expansion at the Arista and Alta Gracia mines, returning high-grade gold-silver intercepts that support production replacement and potential future resource additions. Goldgroup also entered short-term digital marketing and investor-relations agreements totaling EUR 250,000 and USD 800,000, each subject to TSX Venture Exchange acceptance.
Positive
- San Francisco project hosts 1.23 million oz combined Measured & Indicated gold resources plus 178,000 oz Inferred, providing a substantial resource base for potential restart work.
- A 26,053-metre drill program and parallel technical study at San Francisco aim to define an optimized mine plan and evaluate a potential production restart using existing infrastructure.
- Don David complex completed 25,726 metres of drilling in 123 holes in seven months, with high-grade intercepts that support near-term mine planning and potential future resource additions.
- Goldgroup became a non-venture issuer via dual listing on NYSE American and TSX Venture, potentially broadening its capital markets visibility and investor access.
Negative
- None.
Filing Explained
Alta Gracia mining had restarted by February 20; San Francisco remains in drilling and study, and El Llano is not yet a Mineral Resource.
The filing records that Alta Gracia mining restarted on
At San Francisco, the El Llano target is described as conceptual: the release gives a possible 40 million to 78 million tonnes at 0.38 to 0.61 g/t Au, but says insufficient exploration exists to define a Mineral Resource and that further exploration may not do so.
The Don David update also reports 6,101 metres in 29 holes at Alta Gracia from the drilling restart through
The next stated project milestone is expected completion of the 26,053-metre San Francisco drilling program in the fourth quarter of 2026; the technical study and any production restart remain prospective rather than completed.
Key Figures
Key Terms
Measured Mineral Resources financial
Inferred Mineral Resources financial
non-venture issuer regulatory
Estimated True Width technical
AuEq technical
National Instrument 43-101 regulatory
FAQ
What leadership change did Goldgroup Mining Inc. (GORO) announce in this 6-K?
What are the key resource figures for Goldgroup’s San Francisco Gold Project disclosed in the filing?
What exploration work is Goldgroup Mining (GORO) conducting at the San Francisco project?
What drilling activity did Goldgroup report at the Don David Gold Mine complex?
What marketing and investor relations agreements did Goldgroup Mining (GORO) enter into?
How did Goldgroup’s listing status change according to this 6-K?
What notable drill assay highlights were reported from Goldgroup’s operations?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of: August 2026
Commission File Number: 001-43406
Goldgroup Mining Inc. |
(Translation of registrant’s name into English) |
1111 Melville Street, Suite 410 |
Vancouver, British Columbia, V6E 3V6, Canada |
(Address of principal executive office) |
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F | ☐ | Form 40-F | ☒ |
EXHIBIT INDEX
Exhibit | | Description |
99.1 | | Material Change Report dated July 31, 2026 |
99.2 | | Notice of Change in Status dated August 13, 2026 |
99.3 | | News Release dated August 14, 2026 |
99.4 | | News Release dated August 17, 2026 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| GOLDGROUP MINING INC. | ||
| (Registrant) | ||
Date: August 19, 2026 | By: | /s/ Chet Holyoak | |
| | Name: | Chet Holyoak |
| | Title: | Chief Financial Officer |
Exhibit 99.1
FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1 | | Name and Address of Company Goldgroup Mining Inc. (the “Company” or “Goldgroup”) 1111 Melville Street, Suite 410 Vancouver, BC V6E 3V6 |
Item 2 | | Date of Material Change July 27, 2026 |
Item 3 | | News Release A news release announcing the material change described herein was disseminated on July 27, 2026 and was subsequently filed on the System for Electronic Document Analysis and Retrieval + (“SEDAR+”) at www.sedarplus.ca. |
Item 4 | | Summary of Material Change On July 27, 2026, Javier Reyes, Chair of the Board of Directors of the Company (the “Board”), was appointed Interim Chief Executive Officer while the Board commenced a comprehensive search for a permanent Chief Executive Officer. Allen Palmiere has transitioned from his role as President and Chief Executive Officer and is expected to remain in an advisory capacity to support an orderly leadership transition. |
Item 5 | | Full Description of Material Change |
Item 5.1 | | Full Description of Material Change On July 27, 2026, Javier Reyes, Chair of the Board, was appointed Interim Chief Executive Officer while the Board commenced a comprehensive search for a permanent Chief Executive Officer. Mr. Reyes will continue to work closely with the Company’s experienced executive and operational leadership team to execute Goldgroup’s strategic priorities. Allen Palmiere has transitioned from his role as President and Chief Executive Officer and is expected to remain in an advisory capacity to support an orderly leadership transition. |
Item 5.2 | | Disclosure for Restructuring Transactions Not applicable. |
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Item 6 | | Reliance on subsection 7.1(2) of National Instrument 51-102 |
| | Not applicable. |
Item 7 | | Omitted Information Not applicable. |
Item 8 | | Executive Officer Javier Reyes Interim Chief Executive Officer Goldgroup Mining Inc. (604) 306-6867 |
Item 9 | | Date of Report July 31, 2026 |
Cautionary Note Regarding Forward-Looking Information
Certain information contained in this material change report 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). Forward-looking statements relate to analyses and other information that are based on forecasts of future results, as well as estimates and assumptions of management.
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 statements include the Company's expectations regarding Mr. Palmiere's continued service as an advisor to the Company and the Company's expectations regarding a search for a new Chief Executive Officer.
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, the timing of a search for the next Chief Executive Officer, whether the parties will agree on an arrangement whereby Mr. Palmiere will continue to serve the Company in an advisory role, and the risk factors disclosed in Goldgroup's annual information form dated June 10, 2026 and other continuous disclosure materials available under the Company's profile on SEDAR+ at www.sedarplus.ca . Any and all of the forward-looking information contained in this material change report is qualified by these cautionary statements.
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Although Goldgroup believes that the forward-looking information contained in this material change report 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.
Exhibit 99.2
Notice of Change of Status
Goldgroup Mining Inc. (the “Issuer”) hereby files this Notice of Change of Status pursuant to Section 11.2 of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”). The issuer became a non-venture issuer effective July 20, 2026 when it became dual-listed on the NYSE American LLC (along with its existing TSX Venture Exchange listing).
DATED this 13th day of August, 2026.
GOLDGROUP MINING INC.
Per: | /s/ Javier Reyes | | |
| Name: | Javier Reyes | |
| Title: | Chairman and Interim CEO | |
Exhibit 99.3
NEWS RELEASE
GOLDGROUP ADVANCES SAN FRANCISCO TOWARD
POTENTIAL PRODUCTION RESTART
26,000-Metre Drill Program Underway as Company Advances Technical Study
and Mine Plan for Formerly Producing Sonora Gold Mine
VANCOUVER, BRITISH COLUMBIA – August 14, 2026 – Goldgroup Mining Inc. (“Goldgroup” or the “Company”) (TSXV: GORO, NYSE American: GORO, FSE: 55G) is pleased to provide an update on its 100%-owned San Francisco Gold Project in Sonora, Mexico which represents a potentially transformative growth opportunity for Goldgroup. The project is a large-scale, formerly producing open-pit gold operation with substantial existing resources, established infrastructure, permitted mining operations and a significant exploration package.
Goldgroup is now moving the project through the critical technical and development work required to determine the optimal path toward a potential production restart.
A Cornerstone Gold Asset with Exploration Potential
San Francisco currently hosts Measured Mineral Resources of approximately 48.3 million tonnes grading 0.37 grams per tonne (“g/t”) gold and containing approximately 582,000 ounces of gold and Indicated Mineral Resources of approximately 56.8 million tonnes grading 0.35 g/t gold and containing approximately 645,000 ounces of gold. Combined Measured and Indicated Mineral Resources contain approximately 1.23 million ounces of gold. In addition, San Francisco hosts Inferred Mineral Resources of approximately 17.3 million tonnes grading 0.32 g/t gold and containing approximately 178,000 ounces of gold. The Mineral Resource estimate has an effective date of April 30, 2026. For additional information regarding the Mineral Resource estimate, including the key assumptions, parameters and methods used, please refer to the NI 43-101 technical report entitled “Technical Report for the San Francisco Project, Sonora, Mexico,” with an effective date of April 30, 2026, available under the Company’s profile on SEDAR+.
Importantly, the existing resource is only part of the opportunity.
The project encompasses 46,932 hectares of mining concessions, which includes the historic San Francisco and La Chicharra open pits as well as several areas with potential for resource expansion and new discoveries.
One of the most compelling exploration opportunities is the El Llano zone, immediately contiguous to the San Francisco pit and target for drilling from surface. “Scattered exploration drilling east of the San Francisco Pit, in what has been termed the El LIano exploration target area, has indicated that the mineralization identified and mined in the pit could potentially continue to the east towards Mexican State Highway 15 (Pan American Highway), While the drilling at this time is too widely spaced to infer continuity between the individual mineralized intersections identified in the drill holes, the general intersections are similar to those mined in the San Francisco Pit and generally lie in the easterly strike direction of mineralization located in the San Francisco Pit. Therefore, Micon’s QPs believe that the El Llano exploration target area has the potential to host a mineralized zone similar to that found in the San Francisco Pit.” (“Technical Report for the San Francisco
Project, Sonora, Mexico,” with an effective date of April 30, 2026, available under the Company’s profile on SEDAR+)
The Company's current technical report identifies an exploration target at El Llano of possibly 40 million tonnes to 78 million tonnes with grades ranging from 0.38 to 0.61 g/t Au. The potential quantity and grade of the El Llano exploration target are conceptual in nature. There has been insufficient exploration to define a Mineral Resource at El Llano, and it is uncertain whether further exploration will result in the target being delineated as a Mineral Resource.
The project also includes the North Pit resource providing Goldgroup with multiple opportunities to potentially expand the resource and extend the mine life.
Additionally, a geological review of the entire land package is also being conducted to identify additional exploration targets near the existing mine.
26,000-Metre Drill Program Underway
Goldgroup has commenced a diamond drilling program totalling 26,053 metres at San Francisco, representing the first significant new drilling campaign at the project in many years.
The program is designed to:
| ● | Upgrade and confirm portions of the existing mineral resource; |
| ● | Reduce drill spacing and improve geological confidence; |
| ● | Provide additional structural and geological information; |
| ● | Refine the resource model and support additional metallurgical testing; |
| ● | Support optimization of the mine plan; |
| ● | Evaluate mineralization extensions within and around the existing pits; and |
| ● | Generate information required to support the potential restart of mining operations. |
The Company expects the current drilling program to be completed during the fourth quarter of 2026.
Technical Study Underway to Evaluate Production Restart
In parallel with the drilling program, Goldgroup is advancing a technical study focused on the potential restart of mining and processing operations at San Francisco.
The study is being undertaken to integrate the updated geological and resource information with mine planning, processing, infrastructure, capital requirements and operating considerations and to establish the technical basis for a potential restart of production.
The objective is to evaluate potential mining and production scenarios considering the extensive infrastructure already present at the project.
The work will also help establish the appropriate sequencing and timing for mining, processing, plant refurbishment and other restart activities.
Javier Reyes, Chairman and Interim CEO of Goldgroup, commented:
“San Francisco has many of the characteristics we look for in a company-building asset. It is a large-scale gold project with a substantial existing resource, a history of production, permitted mining operations and significant infrastructure already in place. We are now moving aggressively to put all of those pieces together.”
“Our immediate focus is on the drilling program and the technical work required to optimize the resource and mine plan. At the same time, we are refurbishing the processing infrastructure. Our goal is to establish a clear pathway toward a potential restart of production.”
“What makes San Francisco particularly exciting is that we are not relying on a single opportunity. We have an existing resource, opportunities to optimize and expand the known deposits, and multiple exploration targets across a very large land package. If we can successfully restart the operation and demonstrate additional resource potential, San Francisco could become a significant contributor to Goldgroup’s next phase of growth.”
Marketing Services Agreements
Goldgroup has entered into an arms-length Consulting Services Agreement, effective as of August 11, 2026, with Milestone Capital Partners – IFZA (“Milestone Capital”) of Silicon Oasis, Dubai, U.A.E. to support Goldgroup’s digital investor communications strategy. Goldgroup will pay Milestone a total of EUR 250,000 for their services which will include:
| ● | Newsletter mailings via Milestone Capital’s proprietary owned email lists; |
| ● | Introduction of the Company to prospective investors through Milestone Capital’s website and email distribution list; |
| ● | Introductions to German analysts; and |
| ● | Such other marketing and similar services as mutually agreed upon between the Parties. |
The term of the Consulting Services Agreement expires 30 days from the Effective Date. The Milestone Consulting Services Agreement is subject to the acceptance of the TSX Venture Exchange (“TSXV”).
Milestone Capital is a consultancy and advisory firm registered at the IFZA Business Park (Dubai Digital Park, Dubai Silicon Oasis, Dubai, United Arab Emirates). It provides corporate marketing, advisory, and investor relations services to international corporate entities and emerging enterprises. To the knowledge of the Company, Milestone Capital and its principals are arm’s length to the Company and currently do not own any securities of the Company, nor do they have any right or intent to acquire such securities, except as may be acquired through normal market transactions.
The Company has also engaged Sideways Frequency, LLC, (“Sideways”) a Delaware Limited Liability Company to provide digital marketing services for a period of 3 months effective as of Aug 11, 2026. Sideways’ consulting services include preparing advertisements from publicly available information, building profiles of the Company, disseminating advertising or marketing materials, and building a digital community of potential investors for the client and distribution to newsletters. Sideways Frequency will, build, design and host a “landing page” for Goldgroup. Sideways will help build for Goldgroup an investors or potential investors data base that consist of email and SMS subscribers. As full and complete compensation for Sideways’ agreement to perform the services, the Company shall pay to Sideway the upfront sum USD $800,000. The Sideways’ Consulting Services Agreement is subject to the acceptance of the TSXV.
Sideways is a digital marketing and investor relations firm based in Park City, Utah, led by CEO Wesley De Souza. The company specializes in connecting publicly traded small-cap and resource companies with retail and institutional investors through digital advertising campaigns. To the knowledge of the Company, Sideways and its principals are arm’s length to the Company and currently do not own any securities of the Company, nor do they have any right or intent to acquire such securities, except as may be acquired through normal market transactions.
About Goldgroup Mining Inc.
Goldgroup is a Canadian-based precious metals company focused on building a premier intermediate gold and silver producer through disciplined operations, organic growth and strategic acquisitions. The Company owns producing mines and development-stage assets in Mexico and the Unites States, providing multiple opportunities for resource growth, production expansion and long-term value creation.
The Company’s portfolio includes the producing Don David Gold Mine in Oaxaca, the Cerro Prieto Gold Mine and the San Francisco Project in Sonora, Mexico, together with the Back Forty Project in Michigan.
Goldgroup is led by an experienced team with extensive expertise in mine development, operations, exploration and corporate finance throughout the Americas.
For additional information, please visit www.goldgroupmining.com.
On behalf of the Board of Directors
Javier Reyes
Chairman and Interim CEO
Goldgroup Mining Inc.
For more information:
+1 (604) 306-6867
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.
QUALIFIED PERSON
The scientific and technical information contained in this news release was prepared under the supervision of and has been reviewed and approved by David R. Turner, B.Sc., MAIG, Director of Geology of Goldgroup Mining Inc., a Qualified Person as defined by National Instrument 43-101. David R. Turner is an employee of the Company and is not independent of the Company.
CAUTIONARY NOTES REGARDING FORWARD-LOOKING INFORMATION
Certain information contained in this news release 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). Forward-looking statements relate to analyses and other information that are based on forecasts of future results, as well as estimates and assumptions of management. These statements include, without limitation, statements relating to the mineral resource estimates, the exploration programs and anticipated parameters and objectives thereof, the exploration potential and the planned technical study relating to the San Francisco project.
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: the completion of the planned exploration program and technical study at the San Francisco project; receipt of all required regulatory approvals in connection with the Arrangement, including from the TSX Venture Exchange (the “TSXV”); that the conditions precedent to the completion of the Arrangement, including but not limited to TSXV and regulatory approvals, might not be satisfied in a timely manner or at all; and the risk factors disclosed in the Company’s management information circular dated May 29, 2026, Goldgroup’s annual information form dated June 10, 2026 and other continuous disclosure materials available under the Company’s profile on SEDAR+ at www.sedarplus.ca. 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.
Exhibit 99.4
NEWS RELEASE
Goldgroup REPORTS SELECTED Drill RESULTS HIGHLIGHTING
GROWTH POTENTIAL AT DON DAVID
Drilling Supports Production Replacement, Defines Mineralized Extensions
and Advances Newly Identified Targets
Vancouver, Canada – August 17, 2026 – Goldgroup Mining Inc. (“Goldgroup” or the “Company”) (TSXV:GORO, NYSE American:GORO, FSE:55G) is pleased to report selected drill results from its Don David Gold Mine (“DDGM”) complex in Oaxaca, Mexico. During the seven months ended July 31, 2026, the Company completed 25,726 meters of diamond drilling in 123 holes, primarily comprising infill and expansion drilling at DDGM’s producing underground Arista and Alta Gracia mines.
Active Exploration Program Advancing Growth Opportunities
The program comprised approximately 16,249 meters of infill drilling, 8,794 meters of expansion drilling and 683 meters of ore-control drilling, with more than 97% of the total directed toward infill and expansion programs. During the period, up to five underground drill rigs and two surface drill rigs were deployed, with a maximum of six rigs operating concurrently.
This release also includes selected previously unpublished results from the second half of 2025 that remain relevant to unmined extensions, emerging targets or the current geological interpretation.
Arista Mine
At the Arista Mine, the program returned mineralized intercepts from the Three Sisters-Gloria and Arista vein systems, including mineralized intersections within the Gloria corridor. Drilling continued to define the Marena North, Splay 31, and Viridiana vein extensions and to advance the recently identified Isabel SE and Laura vein targets. The results support near-term mine planning and ongoing production-replacement drilling while identifying areas with potential for future resource additions.
Alta Gracia Mine
At the Alta Gracia Mine, where exploration drilling recommenced in November 2025, the program progressed from surface expansion drilling to underground infill and expansion drilling. Mining restarted on February 20, 2026, and continued drilling returned significant silver-gold intercepts from the Mirador and Independencia vein systems and related structures.
Drill Highlights
Arista Mine: Three Sisters–Gloria vein system: Sadie 1 – Hole 525086: 1.92 meters ETW grading 13.49 g/t Au, 931 g/t Ag and 26.78 g/t AuEq, including 1.11 meters ETW grading 20.00 g/t Au, 1,155 g/t Ag and 36.48 g/t AuEq.
Arista Mine: Arista vein system: Viridiana – Hole 526010: 5.59 meters ETW grading 0.49 g/t Au, 442 g/t Ag and 6.80 g/t AuEq, including 1.78 meters ETW grading 0.51 g/t Au, 1,309 g/t Ag and 19.19 g/t AuEq.
Alta Gracia Mine: Independencia W1 – Hole 426014: 2.55 meters ETW grading 1.66 g/t Au, 1,695 g/t Ag and 25.85 g/t AuEq, including 0.95 meters ETW grading 3.00 g/t Au, 3,460 g/t Ag and 52.38 g/t AuEq.
“Don David currently has two producing mines with substantial exploration opportunities across multiple mineralized vein systems," said Javier Reyes, Chair and Interim Chief Executive Officer. "Our ongoing drilling continues to improve our understanding of the mineralized systems and identify opportunities beyond current mining areas. Our objective isn't simply to replace what we mine, but also to continue discovering and defining mineralization with the potential to extend mine life, grow our resource base and create long-term shareholder value. We believe we're only beginning to unlock Don David's full potential."
Table 1. Selected Drill Results from the Arista Mine: Arista (ART) and Three Sisters-Gloria (3SG) Vein Systems,
and the Alta Gracia Mine (AGR).
Notes: ETW = Estimated True Width. AuEq is calculated using gold and silver only, based on metal prices of US$3,680/oz Au and US$49.62/oz Ag and 2026 YTD DDGM plant recovery assumptions of 76.79% Au and 81.28% Ag. The resulting recovery-adjusted Au:Ag equivalency ratio is approximately 70.07:1. Individual values may not sum due to rounding.
Table 2. Drill Hole Collar and Orientation Information
Notes: Coordinates are reported in UTM Zone 14N, WGS 84. Azimuth and dip represent surveyed hole orientations at the collar (0 m). Total depth represents the final recorded hole depth.
Detailed Target Descriptions and Maps
Selected results presented in Table 1 are previously unpublished drill results from the second half of 2025 and from drilling completed during the seven months ended July 31, 2026. The following sections provide geological context for these results, including their relevance to production replacement and near-term mine planning, extensions of mineralized vein systems with potential for future resource additions, and the advancement of exploration targets at the Arista and Alta Gracia mines.
Arista Mine Plan View - 2026 Drill Holes through July 31, 2026, with Selected 2025-2026 Results Highlighted
Notes: Selected 2025-2026 drill holes are highlighted in black. All other 2026 drill holes through July 31, 2026 are shown in blue. Existing underground mine development is shown in grey for reference.
Arista Mine – Three Sisters-Gloria Vein Systems
Drilling within the Three Sisters–Gloria vein systems focused on infill and expansion of the Sandy, Sadie and Sasha vein sets, the Dalia vein, and the Gloria vein system. Infill drilling adjacent to current and planned mining areas continued to refine vein geometry and grade distribution, supporting ongoing production replacement and near-term mine planning. Drilling from the Level 800 Gloria drill station intersected multiple mineralized structures, including Gloria and associated splays, improving the geological interpretation and identifying additional areas for follow-up drilling. Three Sisters has progressed from an exploration target into an established source of mine feed, while the broader Three Sisters–Gloria area remains a priority for continued resource definition and potential future resource additions.
Cross Section A–A′ – North Arista and Three Sisters–Gloria Vein Systems – Selected 2025–2026 Drill Holes
Notes: Selected 2025-2026 drill holes are highlighted in black. Other 2026 drill holes through July 31, 2026 are shown in grey. Existing underground mine development is shown in brown for reference.
Hole No. 525086 – Sadie 1: 1.92 meters ETW grading 13.49 g/t Au, 931 g/t Ag and 26.78 g/t AuEq, including 1.11 meters ETW grading 20.00 g/t Au, 1,155 g/t Ag and 36.48 g/t AuEq.
Hole No. 526018 – Sandy 5: 5.59 meters ETW grading 1.29 g/t Au, 413 g/t Ag and 7.18 g/t AuEq, including 1.63 meters ETW grading 1.67 g/t Au, 969 g/t Ag and 15.50 g/t AuEq.
Hole No. 526035 – Gloria: 3.80 meters ETW grading 3.39 g/t Au, 74 g/t Ag and 4.44 g/t AuEq, including 0.74 meters ETW grading 5.44 g/t Au, 107 g/t Ag and 6.97 g/t AuEq. Splay Gloria: 4.40 meters ETW grading 0.57 g/t Au, 31 g/t Ag and 1.01 g/t AuEq.
Hole No. 525061 – Marena North: 5.53 meters ETW grading 3.21 g/t Au, 169 g/t Ag and 5.62 g/t AuEq, including 2.56 meters ETW grading 6.32 g/t Au, 287 g/t Ag and 10.42 g/t AuEq.
Hole No. 526012 – Marena North: 4.60 meters ETW grading 1.69 g/t Au, 106 g/t Ag and 3.20 g/t AuEq, including 1.60 meters ETW grading 4.72 g/t Au, 297 g/t Ag and 8.96 g/t AuEq. Splay 31: 10.90 meters ETW grading 0.42 g/t Au, 38 g/t Ag and 0.97 g/t AuEq, including 2.54 meters ETW grading 1.51 g/t Au, 135 g/t Ag and 3.44 g/t AuEq.
Arista Mine – Arista Vein System
Drilling within the Arista vein system focused on infill drilling of established structures, including the Viridiana–Gisela vein set, and on further definition of the Marena North and Splay 31 northwest extensions. Results from areas adjacent to current and planned mining continued to refine vein geometry and support ongoing production replacement and near-term mine planning. Drilling at Marena North and Splay 31 extended the geological interpretation toward the northwest and down-dip. These areas remain open to the northwest, up-dip and down-dip and will require additional drilling to evaluate their potential for future resource additions. Surface expansion drilling also tested the Isabel SE and Laura vein targets, located immediately southwest of the principal underground Arista mine area.
Cross Section B–B′ – Central Arista Vein System and Isabel SE and Laura Targets – Selected 2026 Drill Holes
Notes: Selected 2026 drill holes are highlighted in black. Other 2026 drill holes through July 31, 2026 are shown in grey. Existing underground mine development is shown in brown for reference.
Hole No. 526010 – Viridiana: 5.59 meters ETW grading 0.49 g/t Au, 442 g/t Ag and 6.80 g/t AuEq, including 1.78 meters ETW grading 0.51 g/t Au, 1,309 g/t Ag and 19.19 g/t AuEq.
Hole No. 526031 – Viridiana: 4.19 meters ETW grading 0.33 g/t Au, 662 g/t Ag and 9.77 g/t AuEq, including 2.07 meters ETW grading 0.21 g/t Au, 1,134 g/t Ag and 16.40 g/t AuEq.
Hole No. 126007 – Isabel SE: 0.57 meters ETW grading 6.54 g/t Au, 136 g/t Ag and 8.48 g/t AuEq.
Alta Gracia Mine – Mirador and Independencia Vein Systems
Exploration drilling at the Alta Gracia Mine recommenced in mid-November 2025 with surface drilling targeting the southwest extension of the Mirador vein system toward the Independencia system. From the restart of drilling through July 31, 2026, the Company completed a total of 6,101 meters of surface and underground drilling in 29 holes at Alta Gracia. The program has progressed from surface expansion drilling to underground infill and expansion drilling with a primary focus on the Independencia, Independencia West and related vein structures.
Mining at Alta Gracia restarted on February 20, 2026. The ongoing exploration drilling program has continued to improve the geological understanding of the mineralized vein systems. Drilling has returned significant silver-gold intercepts from the Mirador West, Independencia West and Independencia South RM1 veins, supporting current mine planning and identifying areas for additional follow-up drilling and potential future resource additions. More recently, exploration drilling has begun evaluating additional targets, including the San Juan vein set immediately southeast of the Independencia vein system. Alta Gracia mineralization is predominantly silver-bearing with subordinate gold and generally contains lower base-metal concentrations than the polymetallic vein systems at the Arista Mine.
Alta Gracia Mine Plan View – 2025-2026 Drill Holes Through July 31, 2026 
Notes: Selected 2025-2026 drill holes are highlighted in black. All other 2025-2026 drill holes through July 31, 2026 are shown in blue. Existing underground mine development is shown in grey for reference.
Cross Section A–A′ – Independencia Vein System, San Juan and Victoria Veins – Selected 2026 Drill Holes
Notes: Selected 2026 drill holes are highlighted in black. Other 2026 drill holes through July 31, 2026 are shown in grey.
Existing underground mine development is shown in brown for reference.
Hole No. 426001 – Mirador West: 2.08 meters ETW grading 0.40 g/t Au, 363 g/t Ag and 5.59 g/t AuEq, including 1.00 meter ETW grading 0.74 g/t Au, 697 g/t Ag and 10.69 g/t AuEq.
Hole No. 426014 – Independencia South RM1: 2.11 meters ETW grading 0.42 g/t Au, 271 g/t Ag and 4.28 g/t AuEq, including 0.70 meters ETW grading 0.69 g/t Au, 530 g/t Ag and 8.26 g/t AuEq. Independencia W1: 2.55 meters ETW grading 1.66 g/t Au, 1,695 g/t Ag and 25.85 g/t AuEq, including 0.95 meters ETW grading 3.00 g/t Au, 3,460 g/t Ag and 52.38 g/t AuEq.
Hole No. 426017 – Independencia South RM1: 3.26 meters ETW grading 3.34 g/t Au, 1,079 g/t Ag and 18.75 g/t AuEq, including 0.73 meters ETW grading 8.49 g/t Au, 2,820 g/t Ag and 48.74 g/t AuEq. Independencia W1: 2.33 meters ETW grading 0.63 g/t Au, 171 g/t Ag and 3.08 g/t AuEq, including 0.39 meters ETW grading 0.84 g/t Au, 361 g/t Ag and 5.99 g/t AuEq.
Quality Assurance, Quality Control and Data Verification
All drill core samples reported in this release were collected under the supervision of qualified geological personnel at the Don David operations. Drill core was logged, photographed, marked for sampling and typically halved using a
diamond saw. Sample security and chain-of-custody procedures were maintained from the drill site through delivery to the analytical laboratory. The quality assurance and quality control program included the regular insertion of certified reference materials, blanks and duplicate samples.
All selected results presented in Table 1 and throughout this release are based on analyses performed by ALS Global (Vancouver, BC, Canada), an independent laboratory accredited to ISO/IEC 17025:2017. Assays from the DDGM lab are used for operational/check purposes only. The Company maintains a rigorous QA/QC program, including the insertion of certified reference materials, blanks, and duplicates, to monitor assay accuracy and precision across both laboratories.
Samples were prepared at ALS Global in Hermosillo, Mexico and analyzed at ALS Global in Vancouver, Canada, an independent laboratory accredited to ISO/IEC 17025:2017 and ISO 9001:2015, and at the Company-operated DDGM mine laboratory in Oaxaca, Mexico. The DDGM mine laboratory is not independent of the Company and is not ISO accredited. All selected results in this release are based on ALS results. Duplicate samples analyzed at the DDGM mine laboratory were used to compare results with those returned by ALS. No material discrepancies were identified in the results disclosed in this release.
At ALS, gold was analyzed using a 30-gram fire assay with an atomic absorption spectroscopy finish. Silver was analyzed using aqua regia digestion of 0.5 g sample followed by an ICP-AES finish. Any sample exceeding 100 ppm silver was reanalyzed using an aqua regia digestion on a 0.4 g sample, followed by an ICP-AES finish. Any samples exceeding 1,500 ppm silver were reanalyzed using a 30 g fire assay with a gravimetric finish. Copper, lead, and zinc were analyzed using aqua regia digestion of a 0.5 g sample followed by an ICP-AES finish. Any sample with copper, lead, or zinc concentrations exceeding 10,000 ppm was reanalyzed using ore-grade methods. The DDGM mine laboratory uses fire-assay and multi-element digestion methods for gold, silver and base metal analysis under established internal QA/QC protocols, and its results are routinely cross-validated against those from ALS Global.
The Qualified Person verified the data disclosed in this release through review of original assay certificates, drill logs, collar and downhole survey information, sampling records, QA/QC results and the drill-hole database. Selected composite intervals, Estimated True Width calculations and AuEq grades were also independently checked against the underlying analytical and geological data. No material limitations or issues affecting the reliability of the disclosed results were identified.
Qualified Person
The scientific and technical information contained in this news release was prepared under the supervision of and has been reviewed and approved by David R. Turner, B.Sc., MAIG, Director of Geology of Goldgroup Mining Inc., a Qualified Person as defined by National Instrument 43-101. David R. Turner is an employee of the Company and is not independent of the Company.
About Goldgroup Mining Inc.
Goldgroup is a Canadian-based precious metals company focused on building a premier intermediate gold and silver producer through disciplined operations, organic growth and strategic acquisitions. The Company owns producing mines and development-stage assets in Mexico, together with the Back Forty Project in Michigan, providing multiple opportunities for resource growth, production expansion and long-term value creation.
The Company’s portfolio includes the producing Don David Gold Mine in Oaxaca, the Cerro Prieto Gold Mine and the San Francisco Project in Sonora, Mexico, together with the Back Forty Project in Michigan.
Goldgroup is led by an experienced team with extensive expertise in mine development, operations, exploration and corporate finance throughout the Americas.
For additional information, please visit www.goldgroupmining.com.
On behalf of the Board of Directors
“Javier Reyes”
Javier Reyes, Chairman and Interim CEO
For more information:
+1 (604) 306-6867
410 – 1111 Melville St.
Vancouver, BC, V6E 3V6
www.goldgroupmining.com
ir@goldgroupmining.com
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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 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. Forward-looking statements relate to analyses and other information that are based on forecasts of future results, as well as estimates and assumptions of management.
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 in this news release includes, but is not limited to, statements regarding the potential for ongoing infill and expansion drilling to support production replacement and near-term mine planning; the potential for continued exploration and drilling to extend mine life and support future mineral resource growth; the continuity and extension of mineralized vein systems at the Arista and Alta Gracia mines; the potential for areas identified through drilling to contribute to future mineral resource additions; planned follow-up, infill and expansion drilling; the continued evaluation and advancement of exploration targets; and the potential significance of mineralized structures and extensions that remain open for further exploration.
Forward-looking information is based on a number of assumptions that management believes are reasonable as of the date of this news release, including assumptions regarding the accuracy and reliability of assay, survey and geological data; the interpretation and continuity of mineralized structures; Estimated True Width calculations; the availability of drill rigs, personnel, underground access and other required infrastructure; the availability of sufficient funding to carry out planned exploration activities; prevailing metal prices and other assumptions used in calculating AuEq values; and the ability of the Company to continue its exploration and mining activities as currently contemplated.
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. Such
risks include, without limitation, the possibility that additional drilling will not confirm the interpreted continuity, grade or width of mineralized structures; that mineralized extensions or exploration targets will not result in the definition or addition of mineral resources or mineral reserves or an extension of mine life; changes in metal prices, recoveries, operating costs or other economic assumptions; delays or interruptions related to drilling, underground access, equipment, personnel, permitting or operations; geological and technical uncertainties inherent in mineral exploration and resource estimation; and regulatory, environmental, community, political, financing and other risks associated with mineral exploration and mining. Additional risk factors and uncertainties include the risk factors disclosed in Goldgroup's annual information form dated June 10, 2026 and other continuous disclosure materials available under the Company's profile on SEDAR+ at www.sedarplus.ca. 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.