Goldgroup Mining Sells Minera Apolo, S.A. de C.V.

Goldgroup Mining Inc. has agreed to sell its subsidiary, Minera Apolo, S.A. de C.V., subject to TSX Venture Exchange approval. The transaction involves selling all Apolo Shares to a private British Columbia company. Apolo holds a 100% interest in the Pinos gold/silver project in Zacatecas, Mexico. The sale capitalizes on Pinos as a non-core asset, redirecting resources to Goldgroup’s primary focus: the Cerro Prieto heap-leach gold mine and the San Francisco gold mine.

The deal is structured at US$5 million, with an initial deposit upon signing and staggered payments thereafter. The purchaser assumes all liabilities related to Apolo, including outstanding debts. This strategic divestment follows Goldgroup’s acquisition of the larger San Francisco mine, aiming at optimizing operations in Sonora, Mexico.