GG.V · 2026-04-14 12:00:00

Golconda Gold Releases Q1 2026 Production Update and Announces Record Quarterly Production at the Galaxy Gold Mine

Production Results

Golconda Gold Releases Q1 2026 Production Update and Announces Record

Quarterly Production at the Galaxy Gold Mine

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

pleased to announce record quarterly production of 3,693 ounces of gold for the first quarter of 2026 (“Q1”) at its Galaxy Gold

Mine (“Galaxy”), a 7% increase in gold production compared to Q4 2025 and a 25% increase on Q1 2025.

The Q1 production numbers are as follow:

Mining Q1

2026

2025

Princeton

Ore Mined (t) 17,953 16,307 59,428 8,472

Ore Grade (g/t) 3.41 4.18 3.88 3.50

Waste (t) 274 313 952 124

Galaxy

Ore Mined (t) 26,089 19,766 76,000 18,899

Ore Grade (g/t) 2.77 2.81 3.13 3.46

Waste (t) 128 87 371 89

Total

Ore Mined (t) 44,042 36,073 135,428 27,371

Ore Grade (g/t) 3.03 3.43 3.46 3.47

Waste (t) 402 400 1,323 213

Processing

2026

2025

Concentrate produced (t) 4,422 3,299 11,289 2,281

Concentrate grade (g/t) 26.0 32.6 35.9 40.2

Gold produced (oz) 3,693 3,455 13,020 2,947

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”.

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 expectation that the fourth working area at the mine will increase gold production, 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

[email protected]

www.golcondagold.com

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