Golconda Gold Releases Financial and Operating Results for Q2 2026

TORONTO, Aug. 28, 2026 (GLOBE NEWSWIRE) — Golconda Gold Ltd. (“ Golconda Gold ” or the “ Company ”) (TSX-V: GG; OTCQX: GGGOF) is pleased to announce the release of its financial and operating results for the three and six months ended June 30, 2026.

A copy of the unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2026, prepared in accordance with International Financial Reporting Standards, and the corresponding management’s discussion and analysis (the “ MD&A ”), are available under the Company’s profile on www.sedarplus.ca . All references to “$” in this press release refer to United States dollars.

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Golconda Gold CEO, Ravi Sood commented: “Q2 2026 provided solid operational and financial results, with 2026 year-to-date showing a 22% increase in gold production compared to 2025 year-to-date and operating cash flow for the first six months of 2026 of $8.7 million. This strong cash generation enabled the Company to become debt-free in Q1 2026 and continue investment in our fleet replenishment and standardisation program at Galaxy. In Q2 we took delivery of and commissioned three new loaders, one dump truck and one drill rig. This was the largest ever single quarter capital equipment expenditure at Galaxy and is an important part of our ongoing production growth. Additionally, we are pleased to announce commencement of underground mining operations at the Summit Mine in New Mexico, USA, with our mining contractor mobilised, mining fleet delivered and commissioned and first ore being delivered in July. Processing operations are expected to commence in the near future and this is expected to increase our production, revenue and, ultimately profitability, while diversifying geographically and adding significant exposure to silver.” (2)