Vancouver, British Columbia – (May 2, 2012) – Goldgroup Mining Inc. (“Goldgroup” or the “Company”) (TSX:GGA) is pleased to announce the appointment of Mr. Chester F. Millar to the Board of Directors. Mr. Millar is considered a pioneer of heap leach gold production and large-scale bulk mining methods and techniques used for mining low-grade gold deposits worldwide. Considered one of the mining industry’s most successful company builders, Mr. Millar was inducted to the Canadian Mining Hall of Fame in 2008, with a career that includes being a founder and former Chairman of such notable large and successful gold companies as Glamis Gold Ltd., Eldorado Gold Corporation and Alamos Gold Inc. Under his strategic direction, these companies were able to grow from junior exploration and early production companies to world class gold producers.

Mr. Millar’s illustrious career in the mining industry commenced in the 1960’s when he discovered and developed the highly successful Afton Mines Ltd. open-pit copper-gold mine near Kamloops, Canada. Afton Mines Ltd. was ultimately acquired by Teck Cominco Ltd. (now Teck Resources Limited). Mr. Millar was also Chairman of Castle Gold Corporation (acquired by Argonaut Gold Inc.) from August 2004 to September 2008, and Chairman of Pediment Gold Corp. (acquired by Argonaut Gold Inc.) from April 2008 to January 2011. Mr. Millar is a graduate from the University of British Columbia with a degree in geological engineering.

Keith Piggott, President and CEO of Goldgroup, stated, “We are looking forward to the addition of Mr. Millar, a world renowned heap leach gold production expert, to Goldgroup’s Board of Directors. Mr. Millar’s experience, judgment and vast knowledge, particularly in heap leach gold production and mining methods, will be a strong asset to Goldgroup’s flagship development project, Caballo Blanco. His background in the mining industry, including extensive experience in Mexico, will assist in maximizing value of all Company assets and ultimately create value for the Company’s shareholders.”

Goldgroup also announces that Dr. Paul Zweng has resigned from the Board of Directors of Goldgroup and has taken a strategic advisory role as part of Goldgroup’s Advisory Board. Dr. Zweng’s contribution to Goldgroup over the course of 16 months as a Board Director has significantly contributed to the Company’s progress and development. The Company is pleased to continue working with Dr. Zweng in his new advisory role, which will further support Goldgroup’s growth objectives.

Goldgroup’s Advisory Board now comprises of Dr. Allen Born, Mr. Harry Burgess, and Dr. Paul Zweng. Dr. Born has extensive mining experience as a former senior mining executive, including as former Chairman and CEO of Placer Dome Inc., which was later acquired by Barrick Gold Corporation. Dr. Born is also a three-time winner of the Mining Industry CEO of the Year awarded by Financial World Magazine. He was previously Co-Chairman of Cyprus Amax Minerals Company and Chairman and CEO of Alumax Inc., once the third largest American aluminum company, until it was acquired by Alcoa Inc. in 1998. Mr. Burgess is a mining engineer and founding partner of Micon International Limited, one of Canada’s largest independent mineral industry consultants.

About Goldgroup

Goldgroup is a well-funded Canadian-based gold production, development, and exploration Company with significant upside in 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.