Goldgroup Mourns Passing of Board Member
Goldgroup Mourns Passing of Board Member
VANCOUVER
,
Jan. 30, 2017
/CNW/ - Goldgroup Mining Inc. ("Goldgroup" or the "Company") (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) announces
David
Laurence Ingram
, a member of its Board of Directors, passed away at the age of 76.
Keith Piggott
, Chairman and President of Goldgroup commented: "We are deeply saddened by David's untimely passing and extend our sincere condolences to
his family. He will be greatly missed as he was a good friend and a valued colleague to many of us at Goldgroup." Mr. Ingram was a co-founder of the Company
and served on the Company's Audit, Governance and Compensation Committees.
About Goldgroup
Goldgroup is a Canadian-based gold production, development, and exploration Company with a significant upside in a portfolio of projects in
Mexico
and
Ecuador
,
including a 50% interest in DynaResource de
Mexico
, S.A. de C.V., which owns 100% of the high-grade gold exploration project, San José de
Gracia
located in
the
State of Sinaloa
. The Company operates its 100%-owned
Cerro Prieto
heap-leach gold mine, in the
State of Sonora
, Mexico, and is continuing the
environmental assessment and permitting processes to advance to production the El Mozo property in
Ecuador
.
Goldgroup is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance, and exploration in
Mexico
and
Ecuador
. Goldgroup's mission is to increase gold 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,
Mr.
Keith Piggott
, Chairman and President
Tel: 1-520-247-5753
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 forecasts of future results, estimates of
amounts not yet determinable and assumptions 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 may have been made regarding the Company's plans at the
Cerro 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 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: uncertainties
related to actual capital costs, operating costs and expenditures, production schedules and economic returns from Goldgroup's projects; uncertainties associated
with development activities; uncertainties inherent in the estimation of mineral resources and precious metal recoveries; uncertainties related to current global
economic conditions; fluctuations in precious and base metal prices; uncertainties related to the availability of future financing; potential difficulties with joint
venture partners; risks that Goldgroup's title to its property could be 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 associated with
potential conflicts of interest; Goldgroup's lack of experience in overseeing the construction of a mining project; risks related to the 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 factors 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. 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.
SOURCE
Goldgroup Mining Inc.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/January2017/30/c2558.html
%SEDAR: 00003703E
For further information:
Mr. Keith Piggott, Chairman and President, Tel: 1-520-247-5753; Investor Relations, Toll Free: 1-877-655-ozAu (6928)
CO: Goldgroup Mining Inc.
CNW 22:16e 30-JAN-17