Day: March 2, 2011

VANCOUVER, March 2 /CNW/ – Goldgroup Mining Inc. (TSX: GGA) (“Goldgroup” or the “Company”) is pleased to announce that it has entered into an underwriting agreement with a syndicate of underwriters to complete an increased offering of 25.0 million common shares at a price of Cdn$1.40 per share (the “Offering Price”) to raise aggregate gross proceeds of Cdn$35.0 million (the “Offering”). This represents an increase of 5.0 million common shares from the previously announced financing. The Company has also granted the underwriters an option to purchase up to 3.75 million additional common shares at the Offering Price within 30 days following closing to cover over-allotments, if any, and for market stabilization purposes. A final short form prospectus has been filed in connection with the Offering with the securities regulators in Alberta, British Columbia and Ontario. The Company expects to close the Offering on or about March 9, 2011.

“SSRI reported headline Q4 EPS of $4.75; however after adjusting for the gain from the sale of Snowfield in Dec 2010, and other smaller items, we view adjusted EPS as closer to $0.10. We were forecasting Q4 EPS of $0.08 and consensus was $0.13.”

Silver Wheaton closed Tuesday at $43.58, jumping $1.03, or 2.42 percent. iShares Silver Trust closed at $33.87, up $0.76, or 2.30 percent. Coeur d`Alene Mines closed at $32.86, gaining $1.35, or 4.28 percent. Pan American Silver closed at $39.90, up $0.80, or 2.05 percent. Mines Management closed at $3.93, increasing $0.45, or 12.93 percent.

Goldcorp Inc. rose sharply in early trade Tuesday and took out the session highs around midday. The stock finished up by 1.54 at $49.35 on strong volume.

Timmins Gold Corp. (TSX VENTURE:TMM) (“Timmins” or the “Company”) is pleased to report to shareholders on its operating and financial results for the three and nine month periods ending December 31, 2010. All currency in this report is in Canadian dollars unless otherwise indicated.