Mr. Ravi Sood reports

GOLCONDA GOLD LTD. RELEASES Q1 2025 PRODUCTION UPDATE

Golconda Gold Ltd. produced 2,947 ounces of gold for the first quarter of 2025 (Q1) at its Galaxy gold mine, a 32-per-cent increase in gold production compared with Q4 (fourth quarter) 2024 and a 96-per-cent increase on Q1 (first quarter) 2024.

The Q1 production numbers are provided in the attached table.

Golconda Gold chief executive officer Ravi Sood commented: "We have had a strong start to 2025, with a 32-per-cent increase in production compared to the previous quarter, selling into a record gold price market, enabling Galaxy to further invest in new mining machines, equipment refurbishments and critical stock. Two additional loaders and a drill rig were put into service during Q1, with additional equipment scheduled for Q2. Importantly, $950,000 (U.S.) of debt was also paid down in Q1, an important step in deleveraging the company. The team at Galaxy continues to work hard and we are excited to continue our positive trend in increasing production further through the remainder of 2025."

About Golconda Gold Ltd.

Golconda Gold is an unhedged gold producer and explorer with mining operations and exploration tenements in South Africa and New Mexico. Golconda Gold is a public company and its shares are quoted on the TSX Venture Exchange under the symbol GG and the OTCQB under the symbol GGGOF. Golconda Gold's management team comprises senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programs. Golconda Gold is committed to operating at world-class standards, and is focused on the safety of its employees, respecting the environment and contributing to the communities in which it operates.

We seek Safe Harbor.