2010 News Releases

August 04, 2010

Goldgroup's Cerro Colorado Produces 100,000 Ounces of Gold

Vancouver, British Columbia (August 4, 2010) -- Goldgroup Mining Inc., TSX:GGA, ("Goldgroup" or the "Company") is pleased to announce that its 100% owned Cerro Colorado gold mine in Sonora, Mexico has achieved a production milestone of 100,000 ounces of gold since the commencement of the mine. All gold production is un-hedged and the Company expects to produce approximately 25,000 to 30,000 ounces of gold in 2010.

Keith Piggott, Goldgroup's CEO stated, "We are extremely pleased with this result. With the additional production upgrades near completion at the mine, the Company expects Cerro Colorado to continue delivering strong operating results. Goldgroup is well positioned as a junior gold producer possessing one of the best project portfolios in Mexico relative to our peers."

About Goldgroup

Goldgroup is a Canadian-based gold production and exploration company focused exclusively in Mexico, targeting growth in gold production, mineral resources, profitability and cash flow from a portfolio of production, development and exploration stage projects. The Company's property portfolio includes its flagship project, Caballo Blanco in Veracruz.
Goldgroup is led 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, please visit www.goldgroupmining.com or contact:

Keith Piggott, CEO
T: 604-682-1943

David Fry, Corporate Development
TF: 1-877-655-ozAu (6928)