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CALGARY, ALBERTA--(Marketwired - May 24, 2013) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Golconda Resources Ltd. (the "Corporation" or "Golconda") (News - Market indicators) is pleased to announce that further to its press release dated May 14, 2013 and subsequent TSX Venture Exchange approval, its wholly-owned subsidiary, Lyncorp Drilling Services Inc. ("Lyncorp Drilling") has successfully closed the sale of four hard-rock drilling rigs and related inventory and equipment to Lyncorp International Ltd. ("Lyncorp International") in consideration of Lyncorp International reducing the amount owed to it by Lyncorp Drilling by $750,000. The total indebtedness of Lyncorp Drilling to Lyncorp International as at December 31, 2012 and prior to giving effect to the Transaction was $3,192,773.

Lyncorp International is controlled by David Mullen, a director of the Corporation. Together, David Mullen and Lyncorp International hold approximately 48.5% of the outstanding common shares of the Corporation.

Neither 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.

Golconda Resources Ltd.
David Orr
(403) 539-4440
dorr@golconda.ca
www.golcondaresources.com

Golconda Resources Ltd

	EXPLORATION STAGE
	CODE : GA.V
	ISIN : CA38046F1027

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Golconda Res. is a silver and gold producing company based in Canada.

Golconda Res. holds various exploration projects in Canada.

Its main exploration properties are SOUTH MONITOR, 4 ACES, SHULIN LAKE, RALSTON VALLEY, MERGE, MONITOR FLAT, WAPAWEKKA, ENNIS LAKE, SHULIN LAKE and WAPAWEKKA WEST in Canada.

Golconda Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 3.3 millions as of today (US$ 2.7 millions, € 2.3 millions).

Its stock quote reached its lowest recent point on July 10, 2015 at CA$ 0.01, and its highest recent level on September 22, 2021 at CA$ 1.20.

Golconda Res. has 133 509 992 shares outstanding.

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