Golconda Gold Ltd. (TSX-V: GG) (OTCQX: GGGOF) is pleased to announce record quarterly production of 3,693 ounces of gold for the first quarter of 2026 at its Galaxy Gold Mine, a 7% increase in gold production compared to Q4 2025 and a 25% increase on Q1 2025.

The Q1 production numbers are as follow:

Golconda Gold CEO, Ravi Sood commented: “We had a strong first quarter of 2026, with increases seen in ore mined, development and gold production compared to Q4 2025. Mining at Galaxy 26 Level continued its ramp-up, adding a fourth working area to the mine, which is expected to further increase gold production going forward.⁽¹⁾ Q1 2026 was a record at Galaxy for quarterly gold production and the strong gold price enabled us to generate significant cash flow, enabling us to continue investing in Galaxy while bolstering our balance sheet. We are pleased to announce that we ended Q1 2026 debt-free following repayment of the short-term loan note.”

About Golconda Gold

Golconda Gold is an un-hedged 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 OTCQX under the symbol “GGGOF”. Golconda Gold’s management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes. Golconda Gold is committed to operating at the highest standards, focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates.

Note:

(1) This is forward-looking information and is based on a number of assumptions. See “Cautionary Notes”.

For further information please contact:
Ravi Sood
CEO, Golconda Gold Ltd.
+1 (647) 987-7663
ravi@golcondagold.com
www.golcondagold.com