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GG.V ·

Golconda Gold Announces Appointment of New General Manager for the Summit Mine

Management Changes

Golconda Gold Announces Appointment of New General Manager for the

Summit Mine

TORONTO, Jan. 14, 2026 -- Golconda Gold Ltd. (“ Golconda Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) is

pleased to announce that Alan Linden has been appointed as the General Manager of the Corporation’s Summit mine, located

in New Mexico, United States.

Alan Linden has over 35 years’ experience as a Mining Engineer and Project Manager with a focus on underground mining and

mine restart and expansion projects. Most recently working for a large multi-national mining contractor, Alan has spent the

majority of his career working in the United States and Canada and will be based at the Summit mine. Alan is a Professional

Engineer and has a Mining Engineering degree from Queens University in Ontario, Canada.

“I am very pleased to welcome Alan as the General Manager of our Summit mine, which we are targeting a re-start of in the

second quarter of 2026. Alan’s extensive experience in underground mining and project restarts and expansions will be

invaluable to the Company as we start up operations at Summit. We are excited about the commencement of production at

Summit, bringing a second operating asset in a tier 1 jurisdiction into the Company and adding significant exposure to silver

going forward” commented Ravi Sood, Chief Executive Officer of Golconda Gold.

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 OTCQB 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.

Cautionary Notes

Certain statements contained in this press release constitute “forward-looking statements”. All statements other than

statements of historical fact contained in this press release, including, without limitation, those statements regarding the

Company’s intention to restart the Summit mine in the second quarter of 2026, the Company’s expected exposure to silver,

and the Company’s future financial position and results of operations, strategy, proposed acquisitions, plans, objectives, goals

and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”,

“continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions

or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only

the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of

future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may

differ materially from what is expressed, implied or forecasted in such forward-looking statements.

Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited

to the risk factors discussed in the Company’s management’s discussion and analysis for the year ended December 31,

2024. Management provides forward-looking statements because it believes they provide useful information to investors when

considering their investment objectives and cautions investors not to place undue reliance on forward-looking information.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements

and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or

developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on,

the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no

obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required

by law.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Ravi Sood

CEO, Golconda Gold Ltd.

+1 (647) 987-7663

[email protected]

www.golcondagold.com