Goldgroup completed 25,726 metres of diamond drilling across 123 holes during the seven months ended July 31, 2026, targeting infill and expansion zones at the producing underground Don David Gold Mine complex in Oaxaca, Mexico.

The active program deployed up to five underground rigs and two surface rigs concurrently. More than 97% of the meterage was directed toward infill and expansion work, comprising approximately 16,249 metres of infill drilling, 8,794 metres of expansion drilling, and 683 metres of ore-control drilling.

At the Arista Mine, drilling focused on the Three Sisters-Gloria and Arista vein systems. Standout results include Hole 525086 within the Sadie 1 structure, which returned 1.92 metres of estimated true width grading 13.49 g/t gold, 931 g/t silver, and 26.78 g/t gold equivalent, including a higher-grade core of 1.11 metres grading 20.00 g/t gold, 1,155 g/t silver, and 36.48 g/t gold equivalent.

At the Alta Gracia Mine, where exploration drilling recommenced in November 2025 and mining restarted on February 20, 2026, total drilling reached 6,101 metres across 29 holes. Highlights include Hole 426014 within the Independencia W1 structure, returning 2.55 metres grading 1.66 g/t gold, 1,695 g/t silver, and 25.85 g/t gold equivalent, including a 0.95-metre intercept grading 3.00 g/t gold, 3,460 g/t silver, and 52.38 g/t gold equivalent.

Gold-silver equivalency grades use metal prices of US$3,680 per ounce for gold and US$49.62 per ounce for silver, with 2026 plant recovery assumptions of 76.79% for gold and 81.28% for silver, yielding a recovery-adjusted ratio of about 70.07 to one.

Goldgroup completed its business combination with Gold Resource Corporation on July 17, 2026. Beyond Don David, the company is advancing a 24,000-metre diamond drilling program at the 100%-owned San Francisco gold project in Sonora, expected to be completed in the third quarter of 2026, with a production restart targeted for late 2026 or early 2027.

“Our ongoing drilling continues to improve our understanding of the mineralized systems and identify opportunities beyond current mining areas,” said Javier Reyes, Chair and Interim Chief Executive Officer. “Our objective isn't simply to replace what we mine, but also to continue discovering and defining mineralization with the potential to extend mine life, grow our resource base and create long-term shareholder value.”

— Javier Reyes, Chair and Interim Chief Executive Officer

Read the full announcement: Goldgroup Reports Selected Drill Results Highlighting Growth Potential at Don David