🕐29.09.10 - 22:54 Uhr

Goldgroup Mining Inc.: New 18,500 Metre Drilling Program Begins at San Josè de Gracia





New 18,500 Metre Drilling Program Begins at San Jos� de Gracia

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Vancouver, British Columbia (September 29, 2010) - Goldgroup Mining Inc. ("Goldgroup" or the "Company"), in coordination with DynaResource, Inc. ("DynaUSA"-"DYNR-OTCBB"), is pleased to announce that, further to the news release dated September 20, 2010, a new multi-drill 18,500 metre diamond drilling program has commenced at the San Jos� de Gracia* high grade gold project ("San Jos� de Gracia") in Sinaloa, Mexico.

Keith Piggott, CEO of Goldgroup stated, "We have been extremely successful with the drilling programs at San Jos� de Gracia and I�m especially pleased with the recent results from the Tres Amigos zone where we recently announced results of 105.51 grams per ton over 1.75 metres. This next round of drilling will give us the opportunity to further explore many new targets in San Jos� de Gracia�s high grade multi-vein system. We also anticipate the release of an updated NI 43-101 mineral resource estimate early in Q4".

The San Jos� de Gracia District, covering 99,500 hectares is a high-grade advanced exploration project hosting an NI 43-101 compliant mineral resource estimate, as contained in the technical report dated March 22, 2010. The estimated mineral resource is hosted in four separate veins: Tres Amigos, San Pablo, La Union area and the La Purisima trend. Historically, in excess of one million ounces of gold have been produced from the property from high-grade veins grading between 30.0 g/t Au to 60.0 g/t Au. Since Goldgroup began its earn-in on San Jos� de Gracia, 188 diamond drill holes have been completed at an average depth of 235m. Goldgroup, in coordination with DynaUSA, is targeting a mineral resource estimate capable of sustaining annual production of 100,000 ounces of gold from San Jos� de Gracia.

A complete summary of assay results from the last round of drilling and a map of the San Jos� de Gracia property detailing the relative locations of the drill holes used in estimating the current NI 43-101 mineral resource and future proposed drilling will be posted on the Company�s website under "Projects - San Jos� de Gracia" at

The San Jos� de Gracia drilling program is under the direct supervision of Kevin Sullivan, B.Sc., MAusIMM, contracted by Mineras de DynaResource S.A. de C.V., an affiliate of DynaUSA, and the operating entity at San Jos� de Gracia. Mr. Sullivan is the Company Vice President, Exploration and is a qualified person, as defined by NI 43-101. Mr. Sullivan has reviewed the technical information contained in this news release and reviewed the release.

About Goldgroup

Goldgroup is a well-funded Canadian-based gold production and exploration Company focused exclusively on Mexico, targeting growth in gold production, mineral resources, profitability and cash flow from a portfolio of production, development and exploration stage projects. The Company owns and operates the Cerro Colorado Gold Mine in Sonora, Mexico. All gold production is un-hedged and the Company expects to produce approximately 25,000 ounces of gold in 2010. The Company�s property portfolio includes its interests in the Caballo Blanco project in Veracruz and the San Jos� de Gracia high-grade gold project in Sinaloa. Goldgroup is lead by a team of highly successful and seasoned individuals with extensive expertise in exploration, corporate finance and mine development in Mexico.

For further information on Goldgroup and San Jos� de Gracia, please visit

* The San Jos� de Gracia project is 100%-owned by DynaResource de Mexico S.A. de C.V ("DynaMexico"). Goldgroup currently owns 25% of DynaMexico after completing the initial stages of its earn-in and has the right to earn an additional 25% (total of 50%) by expending US$5.5 million by March 15, 2011. Drilling expenditures are being incurred in connection with the earn-in of the additional 25% of DynaMexico. The remaining interest in DynaMexico is owned by DynaUSA.

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CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed "forward-looking". All statements in this news release, other than statements of historical fact, that address events or developments that Goldgroup expects to occur, are "forward-looking information". These statements relate to future events or future performance and reflect Goldgroup�s expectations regarding the future growth, results of operations, business prospects and opportunities of Goldgroup. These forward-looking statements reflect Goldgroup�s current internal projections, expectations or beliefs and are based on information currently available to Goldgroup. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Certain assumptions have been made regarding the forecasted 2010 production at the Cerro Colorado mine of approximately 25,000 ounces of gold and regarding the Company�s plans at the San Jos� de Gracia property, including planned drilling programs, the planned updated resource estimate and the targeted annual production of 100,000 ounces of gold. Many of these assumptions are based on factors and events that are not within the control of Goldgroup and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the United States and Mexico; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country Goldgroup currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which Goldgroup does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as "Risks and Uncertainties" included in the Annual Information Form and MD&A for Goldgroup available at Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in the forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although Goldgroup believes that the forward-looking information contained in this news release are based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Goldgroup expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.

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