GOLDGROUP MINING INC. CLARIFIES CERTAIN DISCLOSURE WITH RESPECT TO THE CERRO COLORADO MINE AND ANNOUNCES RESTATEMENT OF INTERIM FINANCIAL STATEMENTS AND MD&A

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[{"type":"text","content":"\n\n\n Mar. 1, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS\n NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR\n DISSEMINATION IN THE UNITED STATES/\n\n\nVANCOUVER, March 1 /CNW/ - As a result of a review by the British\n Columbia Securities Commission, Goldgroup Mining Inc. (TSX: GGA)\n ("Goldgroup" or the "Company") is issuing the following news release to\n clarify its disclosure with respect to its Cerro Colorado Mine in\n Sonora, Mexico. The Company also announces that it has restated its\n previously filed interim consolidated financial statements for the\n three and nine month periods ended September 30, 2010 and 2009 and\n related MD&A. The Company advises that the clarified disclosure with\n respect to the Cerro Colorado Mine is being made in connection with its\n previously announced filing of a preliminary short form prospectus and\n represent items that were in the Company's disclosure record prior to\n the Company's reverse take-over of Sierra Minerals Inc. completed in\n April 2010.\n\n\nClarification of Technical Disclosure Relating to the Cerro Colorado\n Mine\n\n\nThe technical report entitled "Independent Technical Report, Cerro\n Colorado Gold Mine, Sonora Mexico" prepared by Michelle Stone, Ph.D.,\n P.Geo., with an effective date of April 29, 2009 and a submission date\n of March 15, 2010 (the "Cerro Colorado Report"),...

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