TORONTO, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Golconda Gold Ltd. (“Golconda Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) is pleased to announce that it has been included in the TSX Venture 50 list. TSX Venture 50 is a ranking of the 50 top-performing companies on the TSX Venture Exchange over the last year. Companies are ranked based on three equally-weighted criteria of one-year share price appreciation, market capitalization increase, and Canadian consolidated trading value. Ravi Sood, Chief Executive O ...

TORONTO, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Golconda Gold Ltd. (“Golconda Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) is pleased to announce that it has been included in the TSX Venture 50 list. TSX Venture 50 is a ranking of the 50 top-performing companies on the TSX Venture Exchange over the last year. Companies are ranked based on three equally-weighted criteria of one-year share price appreciation, market capitalization increase, and Canadian consolidated trading value. Ravi Sood, Chief Executive O ...

Core Viewpoint - Golconda Gold Ltd. reported a significant increase in gold production for FY 2025, achieving 13,020 ounces, which represents a 69% increase compared to FY 2024 [1][7]. Mining Performance - The company mined a total of 135,428 tonnes of ore in FY 2025, with an average grade of 3.46 g/t, compared to 87,695 tonnes at 3.18 g/t in FY 2024, marking a 54% increase in ore tonnes mined year on year at a 9% higher grade [6]. - The Princeton Top mining area was established in Q2 2025, contributing 16,477 tonnes of ore at a grade of 3.03 g/t during FY 2025 [6]. - The mining fleet was expanded with the addition of one new drill rig, three LHDs, and two dump trucks during FY 2025 [6]. Processing Performance - Golconda Gold produced 11,289 tonnes of concentrate at an average grade of 35.9 g/t, containing 13,020 ounces of gold in FY 2025, compared to 6,661 tonnes at 36.0 g/t containing 7,712 ounces in FY 2024, reflecting a 69% increase in gold production year on year [6]. - The company reported provisional gold sales of 10,143 ounces of payable gold at an average realized price of $3,458 per ounce in FY 2025, compared to 6,049 ounces at an average price of $2,394 per ounce in FY 2024, indicating a 68% increase in gold sold at a 44% higher realized gold price [6]. Management Commentary - The CEO of Golconda Gold highlighted that 2025 was a transformational year, with significant investments in mining equipment and the re-establishment of historic mining areas leading to increased production [7].

Core Viewpoint - Golconda Gold Ltd. has appointed Alan Linden as the General Manager of its Summit mine in New Mexico, targeting a restart in the second quarter of 2026, which is expected to enhance the company's silver exposure and operational capacity [1][3]. Company Overview - Golconda Gold is an un-hedged gold producer and explorer with operations in South Africa and New Mexico, listed on the TSX Venture Exchange and OTCQB [4]. - The management team consists of senior mining professionals with extensive experience in mining operations and exploration [4]. Management Appointment - Alan Linden brings over 35 years of experience in mining engineering and project management, focusing on underground mining and mine restart projects [2]. - His previous experience includes working for a large multinational mining contractor, and he holds a Mining Engineering degree from Queens University in Ontario, Canada [2]. Strategic Goals - The company aims to restart operations at the Summit mine in Q2 2026, which will add a second operating asset in a tier 1 jurisdiction [3]. - The commencement of production at Summit is anticipated to significantly increase the company's exposure to silver [3].

Core Viewpoint - Golconda Gold Ltd. reported strong financial and operational results for Q3 2025, highlighting significant increases in gold production and cash generation, alongside ongoing investments in production ramp-up and debt repayment [4][9]. Financial Performance - In Q3 2025, Golconda Gold generated revenue of $9.0 million from the sale of 2,747 payable ounces of gold at an average price of $3,385 per ounce, compared to $7.7 million in Q2 2025 [9]. - The operating cash cost per payable ounce was $1,530 in Q3 2025, up from $1,436 in Q2 2025 [9][10]. - Total operating cash costs for Q3 2025 were $4,798,834, with year-to-date costs reaching $12,087,019 [8][10]. Production Highlights - The company achieved record quarterly gold production in Q3 2025, with an 18% increase compared to Q2 2025 and a 51% increase compared to Q3 2024 [4]. - A total of 40,503 tonnes of ore were mined at an average grade of 3.31 g/t, marking a 29% increase in ore mined compared to Q2 2025 [9]. - Gold production for Q3 2025 included 3,588 ounces of contained gold, with 2,823 ounces being payable [10]. Operational Developments - Significant progress was made on the refurbishment of the sub-vertical shaft and the 26 level of Galaxy, with the first ore blast occurring post-quarter end, expected to add an additional ore source in Q4 2025 [4]. - The company is targeting a restart of the Summit Mine in New Mexico in Q2 2026, which is anticipated to enhance production with a significant silver component [5]. Shareholder Actions - Following Q3 2025, the company cancelled 438,671 common shares held as security in full satisfaction of loans to certain former executive officers [5].

Core Viewpoint - Golconda Gold Ltd. reported a significant increase in gold production for Q3 2025, achieving 3,588 ounces, marking an 18% rise from Q2 2025 and a 51% increase from Q3 2024, driven by enhanced mining activities at the Princeton orebody [1]. Production Summary - Q3 2025 gold production: 3,588 ounces - Q2 2025 gold production: 3,030 ounces - Q3 2024 gold production: 2,384 ounces - Ore mined from Princeton increased by 81% compared to Q2 2025 [1]. Mining and Processing Data - Total ore mined in Q3 2025: 40,503 tons - Total ore grade in Q3 2025: 3.31 g/t - Total waste in Q3 2025: 18,290 tons - Concentrate produced in Q3 2025: 3,229 tons with a grade of 34.6 g/t [1]. Future Plans - The company plans to commence mining on a second level of the Galaxy ore body by the end of 2025, which will add an additional ore source to the processing plant [1]. - The company is focused on de-leveraging its balance sheet and investing in further expansion at Galaxy, including refurbishing existing infrastructure [1]. Company Overview - Golconda Gold is an un-hedged gold producer and explorer with operations in South Africa and New Mexico, committed to world-class operational standards and community contributions [2]. - The management team consists of senior mining professionals with extensive experience in mining and processing operations [2].

Core Viewpoint - Golconda Gold Ltd. reported strong financial and operational results for Q2 2025, highlighting increased ore mined and gold production, alongside significant cash flow generation and debt repayment [4][8]. Financial Performance - Generated $7.7 million in revenue from the sale of 2,452 payable ounces of gold at a price of $3,254 per ounce, compared to $6.6 million in Q1 2025 [8]. - Operating cash flow reached $3.3 million for Q2 2025, an increase from $2.4 million in Q1 2025 [4][8]. - Operating cash cost per payable ounce was $1,436, up from $1,369 in Q1 2025 [8]. Operational Highlights - Mined 31,481 tonnes of ore at an average grade of 3.67 g/t, a 15% increase from 27,371 tonnes at 3.47 g/t in Q1 2025 [8]. - Produced 2,480 tonnes of concentrate containing 3,030 ounces of gold, a 3% increase from 2,947 ounces in Q1 2025 [8]. - Established stoping at a new mining area, Princeton Top, delivering 2,828 tonnes of ore to the processing plant during the second half of the quarter [8]. Debt Management - Repaid $850,000 of short-term loans during the quarter, with the Ocean Partners prepayment facility fully repaid post quarter-end, aiding in balance sheet deleveraging [4][8]. Future Plans - Targeting a restart of the Summit Mine in New Mexico in Q2 2026, with various workstreams already commenced [5]. - Plans to hoist the first ore from the lower levels of Galaxy in early Q4 2025 [10].

Core Viewpoint - Golconda Gold Ltd. reported a significant increase in gold production for Q2 2025, achieving 3,030 ounces, which represents a 3% increase from Q1 2025 and a 90% increase compared to Q2 2024 [1]. Production Summary - Q2 2025 production details include: - Total ore mined: 31,481 tons, up from 27,371 tons in Q1 2025 and 16,623 tons in Q2 2024 - Average ore grade: 3.67 g/t, compared to 3.47 g/t in Q1 2025 and 3.03 g/t in Q2 2024 - Total waste: 17,894 tons, an increase from 13,811 tons in Q1 2025 and 14,707 tons in Q2 2024 [1]. - Processing metrics for Q2 2025: - Concentrate produced: 2,480 tons, up from 2,281 tons in Q1 2025 and 1,514 tons in Q2 2024 - Concentrate grade: 38.0 g/t, down from 40.2 g/t in Q1 2025 but up from 32.7 g/t in Q2 2024 - Gold produced: 3,030 ounces, compared to 2,947 ounces in Q1 2025 and 1,591 ounces in Q2 2024 [1]. Operational Developments - The company commenced mining at Princeton Top, adding a third working area to the Galaxy mine, which is expected to enhance production and operational flexibility [1]. - Additional mining equipment was commissioned, leading to a record development advancement of 258 meters, which is a 69% increase over Q1 2025 and a 269% increase over Q2 2024 [1]. Financial Outlook - The positive trend in gold production, coupled with a record realized gold price in Q2, is generating significant cash flow, enabling continued investment in the Galaxy mine and debt repayment [1].

Core Viewpoint - Golconda Gold Ltd. reported strong financial and operational results for Q1 2025, highlighting a significant increase in gold production and a reduction in operating cash costs, alongside a favorable gold price environment [4][5]. Financial Performance - The company generated revenue of $6.6 million from the sale of 2,324 payable ounces of gold at a price of $2,830 per ounce, marking a 57% increase in revenue compared to Q4 2024 [9]. - Operating cash costs were reported at $1,369 per payable ounce, a 27% reduction from $1,873 per payable ounce in Q4 2024 [9]. - Total operating cash costs amounted to $3,497,401 for Q1 2025 [8]. Production Metrics - Golconda Gold mined 27,371 tonnes of ore with an average grade of 3.47 grams per tonne, compared to 29,479 tonnes at 3.17 grams per tonne in Q4 2024 [9]. - The company produced 2,281 tonnes of concentrate at an average grade of 40.2 grams per tonne, containing 2,947 ounces of gold, which is a 32% increase in gold production compared to Q4 2024 [9]. Operational Developments - The company is planning to restart the Summit Mine in New Mexico, USA, aiming for the first half of 2026, supported by improved financial conditions and reduced debt [5]. - Golconda Gold's management team consists of experienced professionals in mining and processing operations, emphasizing a commitment to world-class standards and community contributions [6].

Core Viewpoint - Golconda Gold Ltd. reported significant improvements in its operating and financial performance for the year ended December 31, 2024, driven by record gold prices and increased production, positioning the company for sustainable growth in 2025 and beyond [4]. Financial Performance - For FY 2024, Golconda Gold's operating costs totaled $11,950,037, with a total operating cash cost excluding royalties of $10,506,255 [5]. - The company mined 87,695 tonnes of ore with an average grade of 3.18 g/t, a 38% increase in ore tonnes mined compared to 63,386 tonnes at 3.30 g/t in FY 2023 [7]. - Gold production reached 7,712 ounces, a 22% increase from 6,339 ounces in FY 2023, with revenue generated from gold sales amounting to $13.8 million [7]. - The operating cash cost per payable ounce was $1,721, compared to $1,596 in FY 2023 [7]. Production Growth - The second half of 2024 saw a 91% increase in ore mined, a 95% increase in waste development, and a 49% increase in gold produced compared to the first half of 2024 [7]. - The company is well-positioned to capitalize on production growth in 2025 and beyond, as stated by the CEO [4]. Company Overview - Golconda Gold is an un-hedged gold producer and explorer with operations in South Africa and New Mexico, committed to world-class standards and community contributions [4]. - The management team consists of senior mining professionals with extensive experience in mining and processing operations [4].