Goldgroup Mining Submits Updated NI 43-101 Report for San Francisco Gold Project in Sonora, Mexico

Technical Report Update and Compliance Details

Goldgroup announced the filing of an updated NI 43-101 technical report titled "NI 43-101 Technical Report for the San Francisco Project, Sonora, Mexico," effective April 30, 2026. The updated report was submitted on July 16, 2026, and is accessible on SEDAR+ under Goldgroup’s regulatory profile. The document was prepared by a team of four qualified experts with extensive mining and engineering backgrounds.

This filing serves as an administrative update to prior technical reports for the San Francisco Project. The update includes the addition of Mohsin Hashmi, a professional engineer and project management professional, to the author team. It also incorporates supplementary information on drilling activities conducted before 2022 and updates to ensure compliance with current regulatory standards.

Mineral Resource Estimate Remains Consistent

Goldgroup confirmed that the updated report contains no changes to the previously disclosed mineral resource estimate. This clarification indicates that the report does not revise resource calculations or alter the established resource base of the San Francisco Project. The updates primarily reflect administrative enhancements and added technical information.

Maintaining the existing mineral resource estimate provides stability for investors monitoring the project’s asset base. The inclusion of historical drilling data and technical details strengthens the report’s foundation without necessitating a material recalculation of Goldgroup’s mineral inventory.

San Francisco Project Overview and Infrastructure

Goldgroup holds a 100% interest in the San Francisco Project, situated in Sonora, Mexico. The project is fully permitted to support a rapid restart of mining operations. It features two open pits, heap leach processing facilities, and associated infrastructure already in place, positioning it for production advancement upon completion of permitting and development activities.

The company describes the San Francisco Project as "a robust project with significant gold resources and strong upside potential through optimized development and multiple large-scale exploration targets." This characterization highlights opportunities for near-term production and long-term resource expansion via exploration success. The combination of existing permitted infrastructure and exploration potential forms the core development narrative for this asset within Goldgroup’s portfolio.

Goldgroup’s Expansive Mexican Mining Portfolio

In addition to the San Francisco Project, Goldgroup operates other producing gold assets in Mexico. The company owns 100% of the Cerro Prieto heap leach gold mine in Sonora and operates the Don David Gold Mine in Oaxaca. These producing assets generate operational revenue while the San Francisco Project advances toward development.

Goldgroup’s diversified holdings across Sonora and Oaxaca provide geographic and operational diversification. The consistent use of heap leach processing at Cerro Prieto and San Francisco reflects a unified operational approach. This blend of producing mines and a development-stage project positions Goldgroup as a multi-asset gold producer with both immediate cash flow and growth potential.

Technical Team and Professional Credentials

The updated report was authored by four qualified professionals: William J. Lewis (BSc, PGeo), Richard M. Gowans (PEng), Tudorel Ciuculescu (BSc, MSc, PGeo), and Mohsin Hashmi (PEng, PMP). The addition of Mohsin Hashmi underscores the project’s focus on engineering and project management aspects. The team’s combined expertise in geology, engineering, and project management reflects a comprehensive approach to the technical evaluation.

Regulatory Filing and Investor Access

The report was filed on SEDAR+, Canada’s electronic system for regulatory filings, fulfilling National Instrument 43-101 requirements. This ensures that mineral resource and reserve estimates are supported by qualified professionals. Availability on SEDAR+ provides investors and market participants access to detailed technical analyses underpinning the San Francisco Project.

The July 16, 2026 filing date and April 30, 2026 effective date indicate the report’s preparation timeline. This update likely reflects ongoing due diligence and administrative refinements, demonstrating Goldgroup’s commitment to transparent and current technical disclosures in compliance with Canadian securities regulations.

Integration of Pre-2022 Drilling Data

The updated report includes additional data on drilling activities conducted prior to 2022 at the San Francisco Project. Incorporating historical drilling information enhances the technical basis for resource estimation and development planning. Such data provide valuable insights into mineralization patterns, grade distribution, and deposit geometry that support optimized mine design.

This comprehensive compilation of historical exploration and development data strengthens the project’s technical record, benefiting future regulatory submissions, financing efforts, and operational strategies. Specific details on the scope or results of pre-2022 drilling were not disclosed in the announcement.

Management Expertise and Operational Leadership

Goldgroup is led by a team of seasoned professionals with extensive experience in mine development, corporate finance, and exploration within Mexico. While detailed biographies were not provided, the company emphasizes its leadership’s Mexico-focused expertise, critical for navigating regulatory and operational environments.

The management team’s strength is a key qualitative factor for investors assessing the company’s capacity to execute development and operational plans across its Mexican gold properties.

Market Position and Strategic Assets

Goldgroup positions itself as a Canadian-based mining company with three high-growth gold assets in Mexico. This highlights its Canadian corporate base (TSXV listing) alongside its operational focus on Mexican projects. The "high-growth" designation signals expectations for resource expansion and production increases, particularly from the San Francisco Project and ongoing exploration.

The company is publicly traded on the TSX Venture Exchange (TSXV:GGA), NYSE American (GORO), and Frankfurt Stock Exchange (FSE: 55G0), reflecting efforts to engage diverse investor bases. No immediate share price impact from the technical report filing has been reported.