Golconda Gold Ltd. (‘Golconda Gold’ or the ‘Company’) (TSX-V: GG; OTCQB: GGGOF) is pleased to announce production of 3,455 ounces of gold for the fourth quarter of 2025 (‘Q4 2025’) and 13,020 ounces of gold for the year ended December 31, 2025 (‘FY 2025’) at its Galaxy Gold Mine (‘Galaxy’), a 69% increase in gold production compared to the year ended December 31, 2024 (‘FY 2024’).

The production numbers for FY 2025 are as follows:

Year ended December 31, 2025 Highlights

Mining

• mined 135,428 tonnes of ore from its Galaxy and Princeton ore bodies, with an average grade of 3.46 g/t in FY 2025 compared to 87,695 tonnes at 3.18 g/t in FY 2024, an increase of 54% in ore tonnes mined year on year at a 9% higher grade;
• established stoping at a new mining area, Princeton Top, in Q2 2025, contributing 16,477 tonnes of ore at a grade of 3.03 g/t during FY 2025;
• completed the refurbishment of the sub-vertical shaft and associated infrastructure on Galaxy 26 and 27 levels, with the first ore development blast occurring in December 2025;
• increased the size of the mining fleet, with the addition of one new drill rig, three LHD’s and two dump trucks during FY 2025; and
• ended Q4 2025 with 6,410 tonnes of stockpiled ore on surface and underground at an average grade of 3.21 g/t, representing approximately 660 ounces of contained gold that is expected to be processed in the first quarter of 2026⁽¹⁾.

Processing

• 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 of gold in FY 2024, an increase of 69% in gold production year on year; and

Golconda Gold CEO, Ravi Sood, commented: ‘2025 was a transformational year for Galaxy and Golconda Gold. In line with the Company’s development plan, two historic mining areas were re-established during the year, Princeton Top and Galaxy 26/27 levels, which along with significant investment in mining equipment from both a capital and preventative maintenance perspective enabled gold production to increase 69% compared to 2024. This significant increase in production, combined with the material increase in realised gold price during 2025 has enabled the Company to invest further in the Galaxy development plan and sustainable future production growth while also significantly improving the Company’s balance sheet and working capital position. We are confident that our investments will continue to result in increasing production at Galaxy.’⁽¹⁾

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.

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 intention to process the stockpiled ore in the first quarter of 2026, the Company’s expectation that its investments will result in increasing production at Galaxy, 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
ravi@golcondagold.com
www.golcondagold.com

Rio Silver Inc. (‘Rio Silver’ or the ‘Company’) (TSX-V: RYO | OTC: RYOOF) today outlined the clear steps required to begin accessing high-grade silver mineralization at surface and advance into underground development at the Maria Norte Project, located in Peru’s prolific Huachocolpa silver district.

Recent NI 43-101 verification sampling confirmed high-grade silver mineralization exposed at surface, reinforcing the Company’s confidence in a development strategy that targets the most accessible and economically attractive portions of the system first. Initial development is expected to commence by accessing surface and near-surface mineralization, with material transported to nearby third-party processing facilities, eliminating the need to construct standalone processing infrastructure.

Maria Norte benefits from established site access, proximity to operating mills, and a regulatory framework that allows development and exploration activities to proceed in parallel. Together, these factors support a low-capital, fast-track pathway from exposed mineralization toward potential cash flow, while preserving meaningful upside as underground access expands.

Five Clear Steps to Development

Rio Silver’s near-term plan prioritizes accessing exposed, high-grade mineralization first, followed by advancing portal access to unlock additional high-grade zones below surface. Several steps are expected to occur concurrently over the coming two quarters:

1. Community Engagement and Site Access Finalization
The Company continues constructive engagement with local leadership. The newly appointed community president is expected to convene a local assembly in the coming weeks to support final site access arrangements, enabling development activities to proceed in alignment with community priorities.

2. Camp Mobilization Using Existing Infrastructure
Rio Silver has identified existing camp facilities in the area that can be leased, allowing rapid mobilization of personnel and equipment. This approach enables camp operations and early development work to begin without delays associated with new construction.

3. Accessing High-Grade Surface Mineralization
Initial development efforts will focus on exposed surface veins and near-surface mineralization, where high-grade silver has already been confirmed. These areas represent the most direct and capital-efficient opportunity to begin extracting mineralized material while portal access is prepared.

4. Portal Preparation and Transition Underground
In parallel with surface access, the Company will advance portal preparation to enable underground entry. Portal access is expected to provide direct access to the vein system at shallow depths, allowing Rio Silver to systematically advance along strike and at depth toward additional high-grade zones.

5. Processing Readiness and Logistics Optimization
Maria Norte is located within trucking distance of multiple operating processing facilities. The Company intends to utilize contract (toll) milling, enabling mined material to be transported and processed without constructing a standalone plant, significantly reducing capital intensity and accelerating the development timeline.

The Company’s initial focus is on accessing high-grade mineralization exposed at surface while advancing portal access in parallel, enabling early tonnes to be mined while underground development progresses along the vein system.

A Proven, Capital-Efficient Development Model

The Company’s strategy at Maria Norte reflects a well-established development model used throughout Peru’s historic silver districts. High-grade mineralization is exposed at surface and continues along known structures, allowing development to begin with the most accessible material while progressing underground.

By focusing first on surface and shallow mineralization, Rio Silver can advance portal access and underground development while minimizing upfront capital expenditures. This approach allows the Company to prioritize high-grade mineralization, manage risk, and preserve flexibility as additional exploration and development opportunities are evaluated.

Strategic Location Within a Mature Milling Corridor

Maria Norte is located approximately 2.5 kilometres from a planned 3,000 tonne-per-day processing facility outlined in a recently published preliminary economic assessment by a nearby operator in the district. Rio Silver controls approximately 400 metres of the Tangana West vein, a structure historically recognized as one of the most prospective trends in the area.

While multiple operators have worked within the broader corridor, Rio Silver’s ownership of this portion of the system provides direct exposure to a mineralized trend that has supported development activity elsewhere in the district, reinforcing the project’s strategic positioning.

‘What makes Maria Norte compelling is the ability to start with high-grade silver already exposed at surface while systematically moving underground to capture additional low-hanging, high-value mineralization,’ said Chris Verrico, President and Chief Executive Officer of Rio Silver. ‘This is not a long-dated mine build. It is a short and staged, practical execution plan designed to move from exposed mineralization to underground development as efficiently as possible, while taking advantage of existing infrastructure in a strong silver price environment. It is increasingly rare to find projects where silver is the predominant value driver, as most global silver supply is produced as a by-product of base metal mining. With both Maria Norte and Santa Rita, we are uniquely positioned with silver-dominant assets and a capital-efficient execution strategy designed to minimize risk and create shareholder value.’

Next Steps

• Advance Metallurgical Test Work: Metallurgical testing at Maria Norte is underway to confirm processing characteristics consistent with conventional flotation, a key step in validating the Company’s toll milling and near-term development strategy. In parallel, metallurgical testing at Santa Rita is progressing to support longer-term development and scalability assessments. Results from both programs are expected to be reported to the market in the near term.
• Complete Community Access Milestones: Continue constructive engagement with local leadership, including upcoming community assembly discussions, to finalize site access arrangements in support of near-term development activities.
• Mobilize Site Operations: Utilize existing camp infrastructure to mobilize personnel and equipment, while advancing planning for permanent camp facilities to support sustained operations.
• Initiate Portal Access and Blasting Readiness: Advance portal access preparation and underground development planning, alongside progress toward explosives permitting approval.
• Transition to Underground Development: Begin staged underground access targeting high-grade surface and near-surface mineralization, positioning the Company to advance toward initial production activities over the coming quarters.

Why This Matters to Investors

For investors, the significance of Maria Norte lies in its ability to transition quickly from development planning to physical execution. Surface-accessible high-grade silver, proximity to operating processing facilities, and Peru’s established regulatory framework combine to reduce capital intensity and shorten development timelines relative to traditional mine builds. With silver prices at generational highs, projects capable of advancing efficiently toward near-term cash flow are increasingly scarce. Several development activities are expected to progress concurrently over the coming quarters, positioning the Company to move underground and advance toward initial cash flow thereafter, subject to permitting and operational progress.

Qualified Person

Jeffrey Reeder, P.Geo., is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. Mr. Reeder is a consultant to the Company and is not independent within the meaning of NI 43-101.

About Rio Silver Inc.

Rio Silver Inc. (TSX-V: RYO | OTC: RYOOF) is a Canadian resource company advancing high-grade, silver-dominant assets in Peru, the world’s second-largest silver producer. The Company is focused on near-term development opportunities within proven mineral belts and is supported by a seasoned technical and operational team with deep experience in Peruvian geology, underground mining, and district-scale exploration. With a clear development strategy and a growing portfolio of highly prospective silver assets, Rio Silver is establishing the foundation to become one of Peru’s next emerging silver producers.

Learn more at www.riosilverinc.com

ON BEHALF OF THE BOARD OF DIRECTORS OF Rio Silver INC.

Chris Verrico
Director, President and Chief Executive Officer

To learn more or engage directly with the Company, please contact:
Christopher Verrico, President and CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilverinc.com
Website: www.riosilverinc.com

Cautionary Note Regarding Forward-Looking Information

This news release contains ‘forward-looking statements’ within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding anticipated development activities, underground access timing, permitting progress, community engagement, processing strategies, and the Company’s ability to advance toward potential production and cash flow. Forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements. Rio Silver undertakes no obligation to update such statements except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Osisko Metals Incorporated (the ‘Company’ or ‘Osisko Metals’) (TSX: OM,OTC:OMZNF; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

New analytical results are presented below (see Table 1), including 35 mineralized intercepts from ten new drill holes. Infill intercepts are located inside the 2024 MRE model (see November 14, 2024 news release), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as ‘Both’). Maps showing hole locations are available at www.osiskometals.com.

Highlights:

• Drill hole 30-1144
  • 748.0 metres averaging 0.27% Cu (0.37% CuEq – infill and expansion)
• Drill hole 30-1146
  • 729.0 metres averaging 0.21% Cu (0.29% CuEq – infill and expansion)
• Drill hole 30-1142
  • 585.0 metres averaging 0.24% Cu (0.31% CuEq – infill and expansion)
  • 245.0 metres averaging 0.55% Cu (0.70% CuEq – expansion)
• Drill hole 30-1143 (Southern Extension)
  • 163.5 metres averaging 0.47% Cu (0.50% CuEq – expansion)
• Drill hole 30-1141
  • 171.5 metres averaging 0.42% Cu (0.46% CuEq – infill)
• Drill hole 30-0881 (historical re-assay)
  • 62.5 metres averaging 0.29% Cu (0.38% CuEq – expansion)
  • 421.8 metres averaging 0.28% Cu (0.39% CuEq – expansion)
• Drill hole 30-1135
  • 201.0 metres averaging 0.20% Cu (0.31% CuEq – expansion)

Table 1: Infill and Expansion Drilling Results

* See explanatory notes below on copper equivalent values and Quality Assurance/Quality Controls.
** ‘Both’ indicates drill holes that have contiguous shallower infill as well as deeper expansion intercepts.

Discussion

Drill hole 30-0881, located on the western margin of the Copper Mountain pit, was a historical hole that was re-analyzed from available core to include sections that had not been previously assayed. New results added three new significant mineralized intervals (expansion) including 62.5 metres averaging 0.29% Cu, 2.20 g/t Ag and 0.020% Mo, followed by 45.4 metres averaging 0.20% Cu and 1.67 g/t Ag and an additional 421.8 metres averaging 0.28% Cu, 1.24 g/t Ag and 0.026% Mo. The last portion of 144.4 metres of the latter intersection confirmed previously reported results, and this historical hole will now constitute a depth expansion in the upcoming MRE update.

Drill holes 30-1132 and 30-1137, located near the eastern margin of the 2024 MRE model, cut multiple intersections of mineralization, 15 to 125 metres thick and distributed in ‘layer cake’ fashion from surface, including 125.2 metres averaging 0.20% Cu, 1.25 g/t Ag and 0.009% Mo (expansion in 30-1137), extending mineralization in this area to vertical depths of 783 and 851 metres, respectively.

Drill hole 30-1135, located in the south-central portion of the 2024 MRE model, cut multiple intersections of mineralization, 26 to 201 metres thick and distributed in ‘layer cake’ fashion from surface, including a deeper intersection of 201.0 metres averaging 0.20% Cu, 1.59 g/t Ag and 0.026% Mo (expansion), extending mineralization in this area to a vertical depth of 729 metres.

Drill hole 30-1141, located on top of Copper Mountain near the centre of the 2024 MRE model and inclined 61 degrees to the north, cut 171.5 metres averaging 0.42% Cu and 3.12 g/t Ag (infill) as well as multiple short 10 to 28 metre intersections to a depth of 695 metres.

Drill hole 30-1142, located near the southwestern lip of the Copper Mountain open pit, cut one mineralized interval of 585.0 metres averaging 0.24% Cu, 0.96 g/t Ag and 0.017% Mo (infill and expansion), followed by 245.0 metres averaging 0.55% Cu, 2.25 g/t Ag and 0.035% Mo (expansion). This hole confirmed mineralization in this area to a vertical depth of 1006 metres.

Drill hole 30-1143, located 50 metres south of the southern margin of the 2024 MRE model in the Southern Extension Zone, cut 163.5 metres averaging 0.47% Cu and 3.41 g/t Ag followed by 48.0 metres averaging 0.67% Cu and 6.15 g/t Ag, once again confirming the higher copper and silver grades of mineralization in this zone.

Drill hole 30-1144, located on the western flank of Copper Mountain and inclined 67 degrees to the north, cut two mineralized intervals including 40.0 metres averaging 0.23% Cu and 1.70 g/t Ag (infill) followed by 748.0 metres averaging 0.27% Cu, 1.84 g/t Ag and 0.023% Mo (infill and expansion), extending mineralization in this area to a vertical depth of 895 metres.

Drill hole 30-1145, located between holes 30-1135 and 30-1137, cut five intersections of mineralization, 28 to 57 metres thick and distributed in ‘layer cake’ fashion from surface to a depth of 462 metres (all infill), followed by 149.3 metres averaging 0.15% Cu, 1.11 g/t Ag and 0.016% Mo (expansion) and 52.3 metres averaging 0.18% Cu, 1.24 g/t Ag and 0.024% Mo (expansion), extending mineralization in this area to a vertical depth of 770 metres.

Drill hole 30-1146, located on top of Copper Mountain near the centre of the 2024 MRE, cut 192.0 metres averaging 0.31% Cu and 2.36 g/t Ag (infill) followed by 135.0 metres averaging 0.13% Cu, 1.02 g/t Ag and 0.014% Mo (infill) and then 729.0 metres averaging 0.21% Cu, 1.48 g/t Ag and 0.019% Mo (infill and expansion), extending mineralization in this area to a vertical depth of 1152 metres.

Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. One prograde and at least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier, bedding replacement skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-parallel mineralization, which is mostly stratigraphically controlled, dominates in the area of lower Copper Mountain, Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization (see May 6, 2024 MRE press release). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category (see November 14, 2024 MRE press release).

The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

Most holes are being drilled sub-vertically into the altered calcareous stratigraphy that dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.

Table 2: Drill hole locations

Explanatory note regarding copper-equivalent grades

Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum, and US$24/oz silver; 3) estimated recoveries of 92%, 70%, and 70% for Cu, Mo, and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7%, and 75.0% for Cu, Mo, and Ag respectively.

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).

Quality Assurance / Quality Control

Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 10 metres or less are not reported unless indicating significantly higher grades. True widths are estimated at 90 – 92% of the reported core length intervals.

Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec‘s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada‘s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Photos accompanying this announcement are available at 
https://www.globenewswire.com/NewsRoom/AttachmentNg/704df619-458e-4636-a360-a7c147b0444c
https://www.globenewswire.com/NewsRoom/AttachmentNg/e312e542-f64b-4ee5-a179-e0cd809917ed

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
ravi@golcondagold.com
www.golcondagold.com