Goldgroup Mining Inc. announce it has entered into a loan agreement dated August 10, 2022 (the "Loan Agreement") with Sail Natural Resources LP (the "Lender") in the principal amount of USD 550,000 (the "Loan"). The Lender is a resource focused private investment vehicle, with a focus on supporting growth stage mining companies. The Loan bears interest at 5% per annum, will be repaid in 11 equal monthly installments of USD 50,000 commencing on October 10, 2022, maturing on August 10, 2023.

The Loan is initially being advanced on an unsecured basis, however, under the Loan Agreement, the Company has agreed to use reasonable efforts going forward to reorganize certain security granted by the Company under a credit facility from Accendo Banco S.A. ("Accendo") so that the Loan is secured behind the Accendo credit facility. There is no guarantee that such security will ultimately be granted in favor of the Lender. The Company is not issuing any securities, or paying any bonus, commission or finder's fees in respect of the Loan.

The Loan is repayable at any time before maturity without penalty. The proceeds from the Loan will be used to maintain the Company's existing operations and general working capital requirements.