Goldgroup Mining Inc. announced that its Board of Directors has appointed Chairman & Director, Mr. Keith Piggott, as President and Chief Executive Officer, replacing Dr. Hans von Michaelis. Dr. von Michaelis has resigned as the company's President and CEO to pursue other business interests but remains a committed member of its Board of Directors. Mr. Piggott has a proven track-record of operating companies efficiently through difficult economic times and is also the Company's large shareholder.

The company also announced that its Board has appointed Mr. Donald Siemens as Lead Director.