February 5, 2013: Vancouver, BC – Goldgroup Mining Inc. (Stock Profile – TSX:GGA & OTC:GGAZF) announced that it has completed the purchase of five million units in Oroco Resource Corp., which was previously announced on January 28, 2013. Each unit was purchased at a price of CDN$0.20 and is comprised of one common share and one non-transferable share purchase warrant, with each warrant exercisable for two years at a price of CDN$0.25.
Goldgroup is a Canadian-based gold production, development, and exploration company with a portfolio of projects in Mexico, including its flagship 100%-owned advanced stage gold development project Caballo Blanco in the state of Veracruz, and a 50% interest in DynaResource de Mexico, S.A. de C.V., which owns 100% of the high-grade gold exploration project, San José de Gracia located in the state of Sinaloa. The Company also operates its 100%-owned Cerro Colorado gold mine in the state of Sonora.
Goldgroup remains in a flexible financial position with a strong cash balance, no debt and no gold hedging. The Company is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance, and exploration in Mexico. Goldgroup’s mission is to increase gold production, mineral resources, profitability and cash flow, building a leading gold producer in Mexico.
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