Goldgroup Closes Record US$122 Million Non-Brokered Private Placement

Vancouver, British Columbia--(Newsfile Corp. - September 25, 2026) - Goldgroup Mining Inc. (TSXV: GORO) (NYSE American: GORO) (FSE: 55G) ("Goldgroup" or the "Company") has closed (the " Closing ") its previously announced non-brokered private placement (the " Offering "), issuing 33,382,326 units (the " Units ") at US$3.65 per Unit for aggregate gross proceeds of US$121,845,490.

Each Unit consists of one common share of the Company (a " Share ") and one-half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant entitles the holder to acquire one common share (a " Warrant Share ") at an exercise price of US$5.10 until March 25, 2028.

The Company intends to use the net proceeds for working capital and general corporate purposes, including advancing its existing mining and development portfolio and evaluating strategic investments and M&A opportunities in the mining sector.

The Offering exceeded Goldgroup's initial US$75 million target by more than 60%, strengthening the Company's balance sheet and increasing its financial flexibility. Goldgroup has not made a final allocation of the net proceeds and may reallocate them in response to business opportunities, market conditions and other circumstances. Pending deployment, the net proceeds may be held in cash, cash equivalents or short-term investments. There can be no assurance that any acquisition, investment or other transaction will be identified or completed on acceptable terms or at all.

Javier Reyes, Chairman and CEO, commented, "This financing is an important milestone for Goldgroup. Raising approximately US$122 million on a non brokered basis—more than 60% above our initial target and the largest financing in the Company's history—reflects strong support from new and existing shareholders and gives us greater flexibility to advance our portfolio and evaluate strategic opportunities. We believe it reflects Goldgroup's growing profile in the mining investment community. The participation of leading institutional and sophisticated mining investors is especially meaningful to us, and we do not take their trust for granted."

Goldgroup's four wholly owned assets include the producing Don David Gold Mine in Oaxaca and Cerro Prieto Gold Mine in Sonora, Mexico; the San Francisco Gold Project in Sonora, which is being advanced toward a potential production restart; and the Back Forty Project in Michigan, which is advancing through permitting and feasibility.

The Company's strategy is to build a larger-scale mid-tier mining company through production growth, exploration, mine optimization, project development and disciplined M&A.

The securities issued under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any U.S. state securities laws, and may not be offered or sold in the "United States" (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable U.S. state securities laws or an available exemption from those registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Shares and Warrants comprising the Units, and the Warrant Shares issuable upon exer...