2011 News Releases

April 07, 2011

Goldgroup Hits 3.47 g/t Gold Over 48.50 Metres at Caballo Blanco

Vancouver, British Columbia (April 7, 2011) -- Goldgroup Mining Inc. ("Goldgroup" or the "Company"), is pleased to announce that the current drilling program at its Caballo Blanco gold project in Veracruz, Mexico has encountered gold mineralization yielding 3.47 g/t Au over 48.50 metres (Hole 10 CBN 73). The 500 km² Caballo Blanco property hosts multiple mineralized zones comprising numerous geological targets. Keith Piggott, President & CEO of Goldgroup, stated: "I am very excited by these results as this latest drill hole demonstrates that the mineralization at the La Paila zone extends strongly in a southerly direction. As a result, Goldgroup has decided to expand its 30,000 metre drill program at Caballo Blanco by increasing to five diamond drills."


Drill Hole


From (m)

To (m)

Interval (m)

Au grade (g/t)

10 CBN 73





The hole presented above intersected mineralization well in excess of the 0.2 g/t Au cut-off grade used in estimating the inferred mineral resource presented in the current Caballo Blanco NI 43-101 technical report amended February 28, 2011. However, with current gold prices and the mineralized zone consisting of vuggy silica breccias, coupled with a potentially low strip ratio and good accessibility, Goldgroup feels that a lower cut-off grade may be more appropriate. This result is part of the current drill program that commenced in October, 2010 and is intended to be used in the preparation of an updated mineral resource estimate.

About Caballo Blanco

Goldgroup owns a 70% interest in Caballo Blanco. The remaining 30% interest is owned by Almaden Minerals Ltd. The current estimated indicated mineral resource of 139,000 ounces of gold (6.7 million tonnes grading 0.65 g/t Au) and inferred resource of 517,000 ounces of gold (27.6 million tonnes grading 0.58 g/t Au) covers only the La Paila area in the Northern Zone of Caballo. This estimate was compiled from 32 diamond drill holes totaling approximately 7,000 meters completed by NGEx Resources Inc. prior to Goldgroup's acquisition of its interest in the project from NGEx in November 2009.

Assaying and Qualified Person

After project geologists logged and marked the core, technicians cut the individual lengths with a diamond saw, then tagged the bags and secured them with security clips. The samples were then collected by Inspectorate America Corp. ("Inspectorate") and transported to their preparation facility at Durango, Mexico where they were dried and crushed to -150 mesh. The rejects remained with Inspectorate while the pulps were air couriered to Inspectorate's Richmond, BC, Canada facility and analyzed for gold by fire assay with Atomic Absorption ("AA") finish. In addition, a 30 element Inductively Coupled Plasma ("ICP") analysis (aqua regia digest) was conducted on all samples. A QA/QC program was implemented as part of the sampling procedure for the drill program. One standard, one blank or one duplicate was inserted per group of 15 samples sent the laboratory. The Caballo Blanco drill program is under the direct supervision of Kevin Sullivan, B.Sc., MAusIMM, the Company's Vice President, Exploration and a qualified person, as defined by NI 43-101. Mr. Sullivan has reviewed the technical information contained in this news release and reviewed the news 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. Goldgroup's property portfolio includes its interests in its flagship project, Caballo Blanco in Veracruz and the San José de Gracia 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, please visit www.goldgroupmining.com
or contact:

Keith Piggott, President & CEO

T: 604-682-1943

David Fry, Corporate Development

Toll Free: 1-877-655-ozAu (6928)