Golconda Gold Ltd. Reports Strong Q2 2025 Production Increase

TORONTO, July 10, 2025 — Golconda Gold Ltd. (“Golconda Gold” or the “Company”), an unhedged gold producer and explorer listed on the TSX Venture Exchange (TSX-V: GG; OTCQB: GGGOF), has announced a significant increase in gold production for the second quarter of 2025. The company reported producing 3,030 ounces of gold at its Galaxy Gold Mine, marking a 3% increase compared to the first quarter of 2025 and a substantial 90% increase over the same period in 2024.

Production Details

The production update highlights improvements across both mining and processing operations:

• Mining Operations:

  • Princeton Section:
    • Ore Mined: 12,346 tonnes in Q2 2025, up from 8,472 tonnes in Q1 2025 and 5,128 tonnes in Q2 2024.
    • Ore Grade: Increased to 4.63 grams per tonne (g/t) in Q2 2025 from 3.50 g/t in Q1 2025 and 3.80 g/t in Q2 2024.
    • Waste: 11,317 tonnes in Q2 2025, compared to 4,906 tonnes in Q1 2025 and 2,741 tonnes in Q2 2024.
  • Galaxy Section:
    • Ore Mined: 19,135 tonnes in Q2 2025, slightly up from 18,899 tonnes in Q1 2025 and 11,495 tonnes in Q2 2024.
    • Ore Grade: 3.06 g/t in Q2 2025, down from 3.46 g/t in Q1 2025 but up from 2.68 g/t in Q2 2024.
    • Waste: 6,577 tonnes in Q2 2025, down from 8,905 tonnes in Q1 2025 and 11,966 tonnes in Q2 2024.
  • Total:
    • Ore Mined: 31,481 tonnes in Q2 2025, up from 27,371 tonnes in Q1 2025 and 16,623 tonnes in Q2 2024.
    • Ore Grade: 3.67 g/t in Q2 2025, up from 3.47 g/t in Q1 2025 and 3.03 g/t in Q2 2024.
    • Waste: 17,894 tonnes in Q2 2025, up from 13,811 tonnes in Q1 2025 and 14,707 tonnes in Q2 2024.

• Processing Operations:

  • Concentrate Produced: 2,480 tonnes in Q2 2025, up from 2,281 tonnes in Q1 2025 and 1,514 tonnes in Q2 2024.
  • Concentrate Grade: 38.0 g/t in Q2 2025, down from 40.2 g/t in Q1 2025 but up from 32.7 g/t in Q2 2024.

Company Overview

Golconda Gold Ltd. is an unhedged gold producer and explorer with operations in the Republic of Botswana. The company is focused on gold exploration at the Mupane Gold Mine. As of July 10, 2025, Golconda Gold’s stock closed at CAD 0.66, with a market capitalization of CAD 33,200,000. The company’s price-to-earnings ratio stands at 30.68.

Management Commentary

Golconda Gold CEO, Ravi Sood, expressed optimism about the company’s performance, stating, “We are excited to share our second quarter production numbers, which show further growth at Galaxy, with a 3% increase in production versus Q1 2025 and a 90% increase versus Q2 2024. Importantly, we started mining at Princeton Top, adding a third working area to the Galaxy mine, which is expected to provide additional production and flexibility going forward. Additional mining equipment was commissioned and put into operation, further enhancing our production capabilities.”

This production update underscores Golconda Gold’s strategic initiatives to expand its mining operations and improve efficiency, positioning the company for continued growth in the metals and mining sector.