VANCOUVER,
June 28, 2013 /PRNewswire/ - Oroco
Resource Corp. ("Oroco") (TSXV:OCO, Frankfurt:OR6) and
Goldgroup Mining Inc. ("Goldgroup") (TSX:GGA, OTC:GGAZF, BMV
SIC:GGAN.MX) announce that they have agreed to extend, to
July 15, 2013, the closing date for
the acquisition of the Cerro Prieto Project by Goldgroup.
About Goldgroup
Goldgroup is a 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 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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 considered "forward-looking
information" (within the meaning of applicable Canadian securities
law) and "forward-looking statements" (within the meaning of the
United States Private Securities Litigation Reform Act of 1995).
These statements relate to analyses and other information that are
based on forecasts of future results, estimates of amounts not yet
determinable and assumptions of management. Actual results could
differ materially from the conclusions, forecasts and projections
contained in such forward-looking information. 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
Company's plans at the Caballo Blanco project. 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.
Forward-looking information is subject to a variety of known and
unknown risks, uncertainties and other factors that could cause
actual events or results to materially differ from those reflected
in the forward-looking information, and are developed based on
assumptions about such risks, uncertainties and other factors
including, without limitation: uncertainties related to actual
capital costs, operating costs and expenditures, production
schedules and economic returns from Goldgroup's projects;
uncertainties associated with development activities; uncertainties
inherent in the estimation of mineral resources and precious metal
recoveries; risks related to the continued operation of the
Cerro Colorado mine without a
current economic analysis; risks related to the planned expansion
of the Cerro Colorado mine;
uncertainties related to current global economic conditions;
fluctuations in precious and base metal prices; uncertainties
related to the availability of future financing; potential
difficulties with joint venture partners; risks that Goldgroup's
title to its property could be challenged; political and country
risk; risks associated with Goldgroup being subject to government
regulation; risks associated with surface rights; environmental
risks; Goldgroup's need to attract and retain qualified personnel;
risks associated with operating hazards at the Cerro Colorado mine; risks associated with
potential conflicts of interest; Goldgroup's lack of experience in
overseeing the construction of a mining project; risks related to
the integration of businesses and assets acquired by Goldgroup;
uncertainties related to the competitiveness of the mining
industry; risk associated with theft; risk of water shortages and
risks associated with competition for water; uninsured risks and
inadequate insurance coverage; risks associated with potential
legal proceedings; risks associated with community relations;
outside contractor risks; risks related to archaeological sites;
foreign currency risks; risks associated with security and human
rights; and risks related to the need for reclamation activities on
Goldgroup's properties, as well as the risk factors disclosed in
Goldgroup's Annual Information Form and MD&A. Any and 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 is 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 as ay be required by, and
in accordance with, applicable securities laws.
SOURCE Goldgroup Mining Inc.