Goldgroup to Acquire NGEx's Option to Earn a 70% Interest in the Caballo Blanco Gold Property

VANCOUVER, November 26 - Goldgroup Resources Inc. (the "Company" or "Goldgroup") is pleased to
announce the Company has entered into a Share Purchase Agreement (the
"Agreement") with NGEx Resources Inc. ("NGEx"), the Lundin Group's primary
exploration company, to acquire NGEx's 70% earnable interest in the Caballo
Blanco Gold Project located in Mexico, for CDN$15 million, comprised of
staged cash payments totaling CDN$6 million and 9 million shares (the
"Consideration Shares") of Goldgroup at a deemed price of CDN$1.00 per share.
Goldgroup is seeking to complete a going public event which will result in a
listing of its shares. After the issuance of the Consideration Shares, NGEx
will own 19.6% of Goldgroup's issued shares. In addition, and pursuant to the
Agreement, NGEx will receive a 1.5% net smelter return royalty and, upon the
project reaching commercial production, shall receive a one-time advance
royalty payment in the amount of CDN$5.0 million.

Goldgroup's seasoned management team believes Caballo Blanco has the
potential to fast track to production of approximately 75,000 ounces gold per
annum with relatively low cash cost of production. With Caballo Blanco and
its two other near-term production properties, El Porvenir and San Jose de
Gracia, Goldgroup is positioning itself as an aggressive player in the
Mexican gold arena.

About Caballo Blanco

Caballo Blanco is in the State of Veracruz, Mexico. The property was
optioned to Canadian Gold Hunter Corp., (now renamed NGEx), by Almaden
Minerals Ltd. The concession area is 15,000 hectares covering a large
mineralized system with a multitude of gold and gold-copper anomalies. It is
a short distance off the main highway, 70 kilometres north of Veracruz, one
of Mexico's principal ports. It is very accessible and has power, water and
infrastructure nearby.

In the northern part of the concession there is a giant ring structure
approximately 3 kilometres in diameter, indicated by a magnetic anomaly, and
around this are five large silica caps forming 600-metre-high hills. One of
these is the La Paila anomaly, which is presently indicated to be
approximately 900 metres by 450 metres in size. NGEx has drilled 32 diamond
drill holes, the deepest being to a depth of 334 metres. The weathering
profile is deeper than this, as all 32 holes are oxidized.

There is no official NI 43-101 resource yet for the Caballo Blanco
project but Goldgroup has commissioned Jim F. Cuttle, B.Sc., P. Geo. to
prepare a NI 43-101 compliant technical report. Initial drilling data
indicates significant gold mineralization. The diamond drill hole
intersections of gold are long, the longest being 216 metres (at) 0.6 g/t Au
and the highest being 94.5 metres (at) 2.09 g/t Au. The drill lines are
approximately 50 metres apart. Goldgroup management believes this deposit has
significant potential as it appears to be open on three sides. There is also
considerable exploration potential to increase ounces in the other four
anomalies of the northern ring structure as well as in numerous anomalies in
the concession area.

About Goldgroup

Goldgroup's mission is to become a premier gold producer in Mexico by
organic growth and through mergers and acquisitions. Goldgroup is led by a
team of highly successful and seasoned individuals with extensive expertise
in mining and corporate finance. www.goldgroupresources.com.

Goldgroup is a private company and is not listed on a securities
exchange. The statements made about the Caballo Blanco Gold Project reflect
the opinions of Goldgroup management and not those of NGEx or Almaden.
Neither the TSX, the TSX Venture Exchange nor their Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) has reviewed or accepts responsibility for the adequacy or accuracy
of this release. The foregoing information contains forward-looking
statements relating to the future performance of Goldgroup Resources Inc.
Forward-looking statements, specifically those concerning future performance,
are subject to certain risks and uncertainties including the risk that the
indicative results of mineral exploration activities that have been
undertaken to date could differ from the results of future exploration and
mining activities, and actual results may differ materially. These risks and
uncertainties will be detailed in any future filings submitted by the Company
with the appropriate securities commissions.

For further information: Keith Piggott, President & CEO, +1-604-608-0834;
Gregg Sedun, Executive Chairman, +1-604-345-6642; David Fry, Corporate
Development, +1-778-330-2759

For further information: Keith Piggott, President & CEO, +1-604-608-0834; Gregg Sedun, Executive Chairman, +1-604-345-6642; David Fry, Corporate Development, +1-778-330-2759