Golconda Gold Ltd. Releases Q2 2025 Production Update
Golconda Gold Ltd. Releases Q2 2025 Production Update
TORONTO, July 10, 2025 -- Golconda Gold Ltd. (“Golconda Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) is
pleased to announce production of 3,030 ounces of gold for the second quarter of 2025 (“Q2”) at its Galaxy Gold Mine
(“Galaxy”), a 3% increase in gold production compared to Q1 2025 and a 90% increase on Q2 2024.
The Q2 production numbers are as follow:
Mining Q2
2025
Q1
2025
Q2
2024
Princeton
Ore Mined (t) 12,346 8,472 5,128
Ore Grade (g/t) 4.63 3.50 3.80
Waste (t) 11,317 4,906 2,741
Galaxy
Ore Mined (t) 19,135 18,899 11,495
Ore Grade (g/t) 3.06 3.46 2.68
Waste (t) 6,577 8,905 11,966
Total
Ore Mined (t) 31,481 27,371 16,623
Ore Grade (g/t) 3.67 3.47 3.03
Waste (t) 17,894 13,811 14,707
Processing Q2
2025
Q1
2025
Q2
2024
Concentrate produced (t) 2,480 2,281 1,514
Concentrate grade (g/t) 38.0 40.2 32.7
Gold produced (oz) 3,030 2,947 1,591
Golconda Gold CEO, Ravi Sood commented: “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 service during Q2,
increasing equipment availabilities and allowing a record quarter for development, with a total of 258 metres advanced, a 69%
increase over Q1 2025 and a 269% increase over Q2 2024. The continued positive trend in gold production and development,
along with the record realised gold price in Q2, is providing meaningful cash generation allowing continued investment in
Galaxy and repayment of debt. Galaxy is well positioned to continue increasing production, especially with the addition of new
working faces, and to generate material cashflow now and into the future1.”
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 world-class standards and is 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”.
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, statements regarding the Company’s
ability to continue increasing production and to generate material cashflow in the future, 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.
Information of a technical and scientific nature that forms the basis of the disclosure in the press release has been approved
by Kevin Crossling Pr. Sci. Nat., MAusIMM. Geological Consultant for Golconda Gold, and a “qualified person” as defined by
National Instrument 43-101. Mr. Crossling has verified the technical and scientific data disclosed herein and has conducted
appropriate verification on the underlying data.
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
www.golcondagold.com