Goldgroup Mining Inc. · TSXV:GORO
Goldgroup Mining — Merger or Acquisition (June 2026)
38 slides from Goldgroup Mining's merger presentation, June 2026
Slide 1: Combination of Goldgroup Mining Inc. & Gold Resource Corp.
COMBINATION OF G O LD G R O UP MINING INC . & G O LD R E SO U R C E C O R P . Two Companies. One Vision. Value Creation from Day One. JUNE 2026 CREATING MEXICO'S PREMIER PRECIOUS METALS PRODUCER calugroup.com 1
Slide 2: Cautionary Notes and Technical Disclosure (NI 43-101)
Goldgroup | Gold Resource Corp N I 4 3 -1 0 1 IN FORMATION C a u t i o n a r y N o t e s a n d Te c h n i c a l D i s c l o s u r e Technical aspects of this presentation as they relate to Goldgroup Mining Inc. have been reviewed and approved by Craig Gibson, PhD, CPG, an independent Qualified Perso
Slide 3: Important Notices and Disclaimer – Gold Resource Corp
Goldgroup | Gold Resource Corp I M P O RTA N T N OT I C E S A N D D IS C L AIMER – GOLD RES OURC E CORP FORWARD-LOOKING STATEMENTS that all or any part of inferred or indicated mineral resources will ever be converted into mineral reserves as defined by S-K 1300 or that all or any part of an inferre
Slide 4: Important Notices and Disclaimer – Goldgroup Mining Inc.
Goldgroup | Gold Resource Corp I M P O RTA N T N OT I C E S A N D D IS C L AIMER GOLD GROUP MIN IN G IN C . Certain information contained in this presentation, including any information relating to future financial or operating performance, may be considered “forward-looking information” (within the
Slide 5: A Business Combination Creating a New Investment Opportunity
Goldgroup | Gold Resource Corp A B US I NE S S CO M B I NATI O N C R E ATI NG A NE W IN VESTMEN T OPPORTUN ITY BACK FORTY Michigan, USA DEVELOPMENT Objective to Fast Track Growth to Intermediate Ranking Targeting 250k Au Annual Production NEWCO WILL BE: • A producing gold & silver miner with establi
Slide 6: Diversified Growth
Goldgroup | Gold Resource Corp P R O D U C T I O N , D E V E L O P M E N T, E X P L O R AT I O N D IVERS IFIED GROW TH BACK FORTY Michigan, USA DEVELOPMENT Portfolio in North America with Mexican Focus 2 1 1 + SAN FRANCISCO Sonora, MX DEVELOPMENT PR O DUCTI O N PRODUCTION ADVANCED DI S TR I CT S CA
Slide 7: How Do We Get There
Goldgroup | Gold Resource Corp U LT I M AT E 2 5 0 K A U E Q TA R G E T HOW D O W E GET THERE BACK FORTY Michigan, USA DEVELOPMENT Organic and M&A STEP ONE Complete merger – production visibility by year end of 60,000 oz Au Eq SAN FRANCISCO STEP TWO Sonora, MX DEVELOPMENT Optimize all operations – e
Slide 8: The Deal Structure
Goldgroup | Gold Resource Corp STEP ONE THE D EAL STRUCTURE • Goldgroup Mining Inc. (“Goldgroup” or “GGA”) and Gold Resource Corporation (“Gold Resource” or “GORO”) to merge pursuant to a TRANSACTION reverse triangular merger under Colorado law and a court-approved plan of arrangement under Canadian
Slide 9: Benefits of the Transaction
Goldgroup | Gold Resource Corp THE TRANSACTION B EN EFITS Merger will create a powerful platform for growth. Increased production. Enhanced INCREASED SCALE critical mass and capital markets profile SIGNIFICANT Pro forma production run rate of 100,000+ oz Au Eq within 12 months, driven by Don David,
Slide 10: Combined Company Offers Attractive Valuation
Goldgroup | Gold Resource Corp COM BI NE D COM PA NY OFFE RS ATTRACTI VE VALUATION Major Growth Ahead. Breaking into the $500 Million to $5 Billion Intermediate Producers Market Capitalization (US$M) Production Guidance (Koz Au Eq)(1) Aura Minerals $5,365 West African 300 K92 Mining $4,948 Aura Mine
Slide 11: Share Capital Structure of Combined Company
Goldgroup | Gold Resource Corp PROFORMA S H A R E CA P ST R U CT U R E O F C O M B I N E D C O M PA N Y Solid Shareholder Base & Good Liquidity PRE-CONSOLIDATION POST-CONSOLIDATION Shares Outstanding (M) 527.9 132.0 17.0% Fully Diluted (M) (1) 600.7 150.2 600.7M 9.2% Warrants (M) (1) 61.6 15.4 PRE-C
Slide 12: Strong Cash Position & Zero Debt
Goldgroup | Gold Resource Corp PROFORMA CAP STRUCTURE & BALANCE SHEET STRON G CAS H POS ITION & Z ERO D EBT Clean Balance Sheet GOLDGROUP GOLD RESOURCES CORP PRO FORMA Core Exchange TSX Venture NYSE American TSX Venture Share Price (C$) $1.53 $1.66 $1.53 Share Price (US$) $1.10 $1.19 $1.10 FD In-the
Slide 13: Leadership Team
Goldgroup | Gold Resource Corp PROFORMA LEA D ERS HIP TEAM Highly successful track record in Mexico Operations MANAGEMENT TEAM POST-MERGER BOARD Exploration Allen Palmiere Javier Reyes President & CEO Chairman Finance Ron Little Armando Alexandri Lila Manassa Murphy Proven COO Nicole Adshead-Bell Op
Slide 14: Why Mexico?
Goldgroup | Gold Resource Corp WHY MEXICO? J U RIS D ICTION A Global Mining Powerhouse & America's #1 Trade Partner #1 Silver Producer 12 Critical Minerals $873B Trade 25% of global supply | 6,300 MT in 2025 Of 60 on US critical list | USGS 2025 USA's #1 partner since 2023 | USTR MINING POWERHOUSE S
Slide 15: Combined Asset Overview
Goldgroup | Gold Resource Corp COMBINED AS S ET OVERVIEW PRODUCTION DEVELOPMENT Run Rate Pro Forma Annual Au DON DAVID CERRO PRIETO SAN FRANCISCO BACK FORTY Eq Production Estimate Location Oaxaca Sonora Sonora Michigan (2027E) M&I Resources(1,2) (000”s Tons) 1,500(3) 37(4) 105,000 14,500(6) (3.88 g/
Slide 16: Multiple Near Term Value Catalysts
Goldgroup | Gold Resource Corp M U LT I P L E N E A R T E R M VALUE CATALYSTS Optimize and Expand High Growth Gold Operations ANTICIPATED CAPITAL & SUSTAINING 2026 2027 2028 2029+ EXPENDITURES COMMENTARY Continue development of extensive high- PRODUCTION grade zone at Don David. Ongoing US$35M Total
Slide 17: A Quick Look at Our Operations
Goldgroup | Gold Resource Corp BACK FORTY Michigan, USA DEVELOPMENT SAN FRANCISCO Sonora, MX DEVELOPMENT A QUICK LOOK AT OUR OPERATION S CERRO PRIETO Sonora, MX PRODUCING DON DAVID Oaxaca, MX PRODUCING calugroup.com 17
Slide 18: Don David
Goldgroup | Gold Resource Corp D ON DAVID PRODUCING GLOBAL M&I GOLD ZINC COPPER SILVER 1,490.0 Kt M&I 56.3 Koz M&I 65.9 Mlbs M&I 6.2 Mlbs M&I 7.8 Moz M&I 21.5 Mlbs M&I Location Oaxaca State, Mexico Processing 1,800 tpd flotation CAMPO MARADO 55,000 hectares + 300 tpd agitated leach Ownership 100% 20
Slide 19: Arista Mine Complex at Don David
Goldgroup | Gold Resource Corp ARISTA MIN E COMPLEX AT D ON DAVID Arista Mine Complex: Underground Workings & • Structurally controlled intermediate-sulfidation epithermal Identified Vein Systems vein system and associated stockwork zones – Containing gold, silver, copper, lead and zinc • Mined by a
Slide 20: Arista Mine & Exploration Plan
Goldgroup | Gold Resource Corp ARISTA MIN E & EX PLORATION PL AN Main Ramp Access Block Model NSR & 3D View Inferred looking W Splay 31 Resource Sandy Splay 5 Sadie Candelaria Arista Gisela Gloria Este-N Index Map Viridiana N 3SG 3SG SWB Switchback ART Soledad /Sagrario 2025 Drill Targets 2026 Drill
Slide 21: Greenfield Projects
Goldgroup | Gold Resource Corp GREENFIELD PROJECTS Key Factors for Ranking •Geological Potential: The likelihood of a significant deposit, based on geological context. •Stage of Exploration: Ranking by maturity, with higher rankings given to those closer to feasibility. •Risk Mitigation: The potenti
Slide 22: Alta Gracia Exploration & Development
Goldgroup | Gold Resource Corp February factors Q1 – 2026: Alta IAGracia MIN EExploration Development February factors ALTA GRAC EX PLORATION & D EVELOPMEN T Main ramp Main ramp access 0.15 m access 0.25 m 0.25 m 1370.00 0.15 m 1.95 m 0.25 m 669.00 1370.00 1.95 m 0.35 m0.25 m 0.30 m 669.00 0.35 m In
Slide 23: Regional Don David Exploration – Margaritas Project
Goldgroup | Gold Resource Corp REGION AL D ON DAVID EX PLORATION – MA RGARITAS PROJ ECT • Location: encompasses a broad area 5 to 12 km north-west of the Arista Mine, centrally located within the San Jose structural corridor. • Drilling Program (2012-2016): a total of 21,299 m of core drilling was c
Slide 24: Don David Regional Exploration – El Rey Project
Goldgroup | Gold Resource Corp D ON DAVID REGION AL EX PLORATION – EL REY PROJ ECT El Rey North-South Cross Section No. 766,835E (looking west) • Location: situated 44 km NW of the Arista mine, within the San Jose structural corridor. • Phase 1 Drill Campaign (2007-2008): 5,273 m of core drilling co
Slide 25: San Francisco
Goldgroup | Gold Resource Corp SA N FRAN C IS CO IN DEVELOPMENT GOLD 56.3 Koz &I Location Sonora State, Mexico Processing 16,875 tpd throughput capacity ~33,667 hectares (+ 13,284 (utilizing two existing and parallel hectares of regional concessions) crushing circuits 15 ktpd + 7 ktpd with down time
Slide 26: San Francisco Mine Complex
Goldgroup | Gold Resource Corp SAN FRAN C IS CO MIN E COMPLEX CHEMICAL PLANT NORTH PIT 26
Slide 27: San Francisco Key Initiatives
Goldgroup | Gold Resource Corp SA N FRAN C IS CO K EY IN ITIATIVES • 24,000 M diamond drilling, $8.5 million, complete in Q3, objective is to confirm block model and provide the input into the mine plan. • Refurbish the crushing circuit and ARD plant, capital estimate $5 million, completion Q4 2026.
Slide 28: Resource Sensitivity Analysis
Goldgroup | Gold Resource Corp RES OURC E S EN S ITIVITY AN ALYS IS Sensitivity Analysis Graph for the San Francisco Project All Pits Combined SF Project Sensitivity All Pits Compined 160,000,000 1.60 140,000,000 1.40 Average Grade (Au g/t) 120,000,000 1.20 Tonnage (t) 100,000,000 1.00 80,000,000 0.
Slide 29: Cerro Prieto
Goldgroup | Gold Resource Corp C ERRO PRIETO PRODUCING Location Sonora State, Mexico Processing 4,200 tpd throughput capacity 4,335 hectares 2026E Full Year 17,000 – 20,000+ oz Au Ownership 100% Production In-house estimate with ongoing mine production Royalty 2% Mine Type Shallow Open Pit Infrastru
Slide 30: Cerro Prieto Mine
Goldgroup | Gold Resource Corp Socorro Zone – 4km Puma Pit Mined Zones Reyna Tajo Viejo Esperanza Zone Currently in Production Nueva Esperanza Advanced Exploration Zones Esperanza Union Pit Early Exploration Zones Centro Pit Reforma – New Zone Definition drilling underway Cata Project South Pit Coat
Slide 31: Back Forty
Goldgroup | Gold Resource Corp BAC K-FORTY IN DEVELOPMENT GOLD DEFINITIVE FEASIBILITY STUDY UNDERWAY 56.3 Koz &I Location Michigan, USA History Acquired Aquila Resources in 2021, over $95M spent in exploration by Ownership 100% Aquila and various JV partners including HudBay Minerals Stage Late-stag
Slide 32: Back Forty: Compelling Project Economics
Goldgroup | Gold Resource Corp BAC K FORTY: COMPELLIN G PROJ ECT ECON OMIC S Open pit and underground polymetallic VMS project “Base” Case3 “Spot” Case4 “Consensus” Case5 US$1,800/oz Au US$2,700/oz Au US$3,036/oz Au US$214 Million After-Tax NPV6% US$433 Million After-Tax NPV6% US$556 Million After-T
Slide 33: Fast Track to Intermediate Producer
Goldgroup | Gold Resource Corp Producing assets with pipeline of GROWTH PORTFOLIO development and exploration projects. K E Y M E RG E R TA K E AWAY OF ASSETS 100% owned and Mexico projects FAST TRAC K TO permitted IN TERMED IATE MERGED LEADERSHIP Strengthened and focused on re-rating PROD UC ER and
Slide 34: Why Invest?
IN CONCLUSION Goldgroup | Gold Resource Corp GOLDGROUP + GOLDRESOURCE WHY IN VEST ? BACK FORTY Michigan, USA DEVELOPMENT Investment Summary 7 KEY POINTS: SAN FRANCISCO • Quality gold & silver assets Sonora, MX DEVELOPMENT • Production and cash flow exposure • Exploration upside • Strong management t
Slide 35: Thank you
Goldgroup | Gold Resource Corp Thank you. Allen Palmiere, CEO Gold Resource Corporation Allen.Palmiere@GRC-USA.com NYSE American: GORO Ralph Shearing, CEO Goldgroup Mining Inc. rshearing@goldgroupmining.com TSXV:GGA, OTC:GGAZF, FSE:55G0 Sophia Shane Investor Relations sshane@goldgroupmining.com Ph.
Slide 36: Appendix
Goldgroup | Gold Resource Corp Appendix calugroup.com 36
Slide 37: The world at an impasse: the role of Mexico
Goldgroup | Gold Resource Corp “The world at an impasse: what is the role of Mexico in the new world order?“ calugroup.com 37
Slide 38: The Current Global Situation
Goldgroup | Gold Resource Corp • The Americas cannot produce the critical materials for our critical industries: energy, health, agriculture, computing. The current • Together, these gaps create structural national security risks. global situation • They leave our countries dependent on fragile glob