Goldgroup Announces Mexican Federal Government Order to Temporarily
Goldgroup Announces Mexican Federal Government Order to Temporarily
Suspend All Non-Essential Businesses Until April 30, 2020 Due to COVID-19
Vancouver, British Columbia ( April 8 , 20 20) – Goldgroup Mining Inc. (“Goldgroup” or the “Company”)
(TSX:GGA, OT C:GGAZF, BMV SIX:GGAN.MX) announces that the Mexican federal government has mandated
that all non -essential businesses, temporar ily suspend operations until April 30 due to the COVID-19 virus. The
Company will work towards an orderly reduction of mining, crushing and stacking activities. Given that the
Company operates a heap leach mine, the Company expects metal production and metal sales will continue during this
time.
“While we have no confirme d ca ses of COVID-19 in the Company, the safety and the health of our employees,
contractors, and communities is our top priority in this unprecedented time. All essential employees for this operation
will follow safety protocols and precautionary measures. This is a rapidly evolving situation and we will take f urther
action based on the best available information,” said Anthony Balic, Interim CEO.
About Goldgroup
Goldgroup is a Cana dian-based gold production, development, and exploration Company with a significant upside in
a portfolio of projects in Mexico, including a n interest in DynaResource de Mexico, S.A. de C.V., which owns 10 0%
of the high- grade gold explorati on project, San José de Gracia located in the State of Sinaloa. In addition, the
Company operates its 100%-owned Cerro Prieto heap-leach gold mine, in the State of Sonora, Mexico.
Goldgroup is le d by a team of highly successf ul and seasoned individuals with extensive expertise in mine
development, cor porate fin ance, an d exploration in Mexico . Goldgroup's mission is to increase go ld production,
mineral resources, profitability and cash flow, with a view to building a leading gold producer.
For further information on Goldgroup, please visit www.goldgroupmining.com
On behalf of the Board of Directors
Investor Relations
Toll Free: 1-877-655-ozAu (6928)
CAUTIONARY NOTE 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 forecas ts of fu ture results, estimates of
amounts not yet determinable and a ssumptions 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. Certain assumptions have been made regarding the Company's plans at the C erro Prieto project. Many of these assumptions are based on factors and
events that are not within the control of Goldgroup and there is no assurance they will prove to be correct. Forward -looking information is subject to a variety of
known and unknown risks, uncertainties and other factors that could cause actual events o r 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 includi ng, without limitation: the scope, duration and impact
of the COVID-19 pandemic, the scope, duration and impact of regulatory responses to the pandemic on the employees, business and operations , uncertainties related
to actual capital costs, o perating costs a nd expenditures, production schedules and economic returns from Goldgroup's projects; uncertainties associated with
development activities; uncertainties inherent in the estimatio n of mineral resources and precious metal recoveries; uncerta inties related to current global economic
conditions; fluctuations in precious and base metal prices; uncertainties related to the availability of future financing; po tential difficulties with jo int venture
partners; risks that Goldgroup's title to its pro perty could b e 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 asso ciated with p otential
conflicts of interest; Goldgroup's lack of experience in overseeing the construction of a mining project; risks related to th e 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 fa ctors disclosed in Goldgroup's Annual Information Form and MD&A. Any and all
of the forward-looking information contained in this news release is qualified by these cautionary statements. Althoug h 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 st atements.
Accordingly, readers are cautioned against placing undue reliance on forward- looking information. Goldgro up 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.