Goldgroup Provides a Legal Update
Goldgroup Provides a Legal Update
Vancouver, British Columbia ( December 31, 201 9) – Goldgroup Mining Inc. (“Goldgroup” or the “Company”)
(TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) provides a response to DynaResource, Inc.’s (“DynaUSA”) news
release from December 20, 2019. The Company is currently awaiting the written judgment of the 11th Federal Circuit
Collegiate Court in México to be published to assess its contents and reasons for judg ment. The Company will
continue to pursue all legal avenues in Mexico to achieve a favorable resolution to the DynaUSA dispute.
In addition, the Company will continue t he enforcement of the final judgment from the United States Distr ict Court
for the District of Colorado (the “Court”) which confirmed the Company’s previously announced favorable award in
the arbitration against DynaUSA. See news release s dated August 31, 201 6 and May 14, 2019 . The order
accompanying the final judgment, date d May 9, 2019, rejected every argument DynaUSA raised since the favorable
result Goldgroup reached in the 2016 arbitration.
Further legal proceedings might occur in the U.S. or Mexico. As of the date of this release, however, Goldgroup has a
final judgment and detailed order confirming the expansive relief set forth in the arbitration award.
About Goldgroup
Goldgroup is a Can adian-based gold production, development, and exploration Company with a significant upside in
a portfolio of projects in Mexico , including a 50% interest in Dyna Resource de Mexico, S.A. de C.V., which owns
100% of the high-grade gold exploration project, San Jos é 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 and Ecuador. 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 foreca sts 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 re flect 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 Cerro Pri eto project. Many of these assumptions are based on factors a nd
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, unc ertainties 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 including, without limitation: uncertainties related to actual
capital costs, o perating costs and 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; potential diff iculties with joint venture partners; risks that
Goldgroup's title to its pro perty 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 asso ciated with potential conflicts of interest;
Goldgroup's lack of experience in overseeing the construction of a mining project; risks related to the integration of busine sses 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 ri sks 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 con tained
in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent wit h such statements. Accordingly, readers
are cautioned against p lacing 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.