Goldgroup Mining Inc. announced a non-brokered private placement of up to 5,700,000 common shares at issue price of CAD 0.10 for gross proceeds of CAD 570,000 on December 19, 2022. No commissions or fees are payable in connection with the transaction. The closing of the Private Placement is subject to receipt of all necessary approvals, including approval of the Toronto Stock Exchange.

All securities issued under the private placement will be subject to statutory hold periods expiring four months and one day from the date of closing of the transaction.