Business
Goldgroup Secures Ownership of the San Francisco Gold Mine Acquiring 100% of Molimentales del Noroeste, S.A. De C.V.
VANCOUVER, BC / ACCESS Newswire / December 24, 2025 / Goldgroup Mining Inc. (" Goldgroup " or ...
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"Goldgroup Secures Ownership of the San Francisco Gold Mine Acquiring 100% of Molimentales del Noroeste, S.A. De C.V.VANCOUVER, BC / ACCESS Newswire / December 24, 2025 / Goldgroup Mining Inc. (\"Goldgroup\" or the \"Company\") (TSX-V:GGA)(OTC:GGAZF).Further to the Company's news release dated September 18, 2025, Goldgroup is pleased to announce that, subject to the final approval of the TSX Venture Exchange (the \"TSXV\"), it has acquired all of the issued and outstanding Series \"A\" shares in the fixed capital and all the issued and outstanding Series \"B\" shares in the variable capital (collectively the \"Molimentales Shares\") of Molimentales del Noroeste, S.A. de C.V. (\"Molimentales\") through a Concurso Mercantil process (restructuring proceeding equivalent to Chapter 11 in the United States). Goldgroup has received approval from the Second District Court for Commercial Bankruptcy Matters (the \"MexicanCourt\") to the plan of arrangement (the \"Plan of Arrangement\") the Company filed with the Mexican Court under the Concurso Mercantil process. The judgement issued by the Mexican Court in favour of Goldgroup's Plan of Arrangement completes the bankruptcy and restructuring of Molimentales. Molimentales' primary asset is the formerly producing San Francisco Mine concessions, located in Sonora State, Mexico. The acquisition of Molimentales is an Arm's Length Transaction and there are no finder's fees payable.\"This transaction marks a truly transformational milestone for Goldgroup,\" said Ralph Shearing, CEO of Goldgroup Mining. \"The San Francisco Mine, located 44 km in a straight line from our Cerro Prieto Gold Mine in Sonora, represents a unique opportunity to consolidate a highly prospective gold district. Its most recent historic NI 43-101 technical report (dated August 8, 2020 prepared by Micon International Limited) outlines 1.4 million ounces of gold* in measured and indicated resources within 99,700,000 Tonnes at 0.446 g/t** calculated at gold price of $1,500/oz, providing a strong foundation for renewed development.Over the coming months, we will launch an aggressive drilling campaign aimed at confirming and upgrading these resources, while also testing for additional mineralization both within and beyond the current open-pit footprint. Our goal is to unlock the full potential of this asset and advance a robust, l...