Goldgroup Provides Update on Change of Soil Use Permit Status at Caballo Blanco

NEWS RELEASE.

May 23, 2012: Vancouver, BC – Goldgroup Mining Inc. (Stock Profile – TSX: GGA & OTC:GGAZF) has had its Change of Soil Use Permit, also known as the “Estudio Técnico Justificativo para Cambio de Uso de Suelo” (“ETJ”), returned to the Company, for its 100% owned Caballo Blanco gold project, from the Ministry of Environment and Natural Resources, also known as the Secretaría de Medio Ambiente y Recurso Naturales (“SEMARNAT”). Goldgroup submitted the ETJ to SEMARNAT, which is the federal environmental regulatory agency in Mexico, on December 16, 2011. The ETJ is evaluated by the regional office of SEMARNAT in Veracruz. Comments by SEMARNAT request that the Company provide further details on the following information for its ETJ application:

  • Rescue programs for protected flora species
  • Environmental mitigation measures for the project and how Goldgroup will measure its success
  • Ecosystems affected by the use of environmental services (water, soil, air, etc.) required for the project
  • Economic and social benefits of the project

SEMARNAT stated that Goldgroup is able to resubmit the ETJ application after addressing the above issues. Accordingly, Goldgroup will resubmit the enhanced ETJ application on a timely basis. Within the resubmitted ETJ application, Goldgroup will also include all information on additional land that has been acquired since the time of the initial filing of the ETJ application.

The Company is committed to implementing appropriate designs and measures at Caballo Blanco to ensure the protection of the environment and to create a sustainable mining operation that is expected to benefit all stakeholders, including local and regional communities.

Status of Environmental Impact Statement Permitting Application

Goldgroup requires two independent environmental permits in order to operate the Caballo Blanco project; the Environmental Impact Statement (“EIS”) and the ETJ. The EIS and ETJ are required for the commencement of construction at Caballo Blanco.

The EIS application was submitted by Goldgroup to SERMANAT on December 15, 2011. Formal comments from SEMARNAT in regards to Goldgroup’s EIS application were received by the Company on March 13, 2012. The comments requested more information on risk mitigation, along with environmental protection and rehabilitation of several aspects of the proposed mining operations. In proactively addressing all of the comments from SERMANAT, Goldgroup will continue to ensure that the best interests of all stakeholders are factored into the development process of the project.

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