CALGARY, ALBERTA--(Marketwire - June 15, 2011) - GOLCONDA RESOURCES LTD. ("Golconda") (News - Market indicators) is pleased to announce that through its wholly- owned subsidiary Lyncorp Drilling Services Inc. ("Lyncorp"), that it has entered into a Limited Partnership Agreement with Birch Narrows Dene Development Limited Partnership ("Birch Narrows") to form Northern Nations Diamond Drilling Limited Partnership. The Limited Partnership is owned 51% by Birch Narrows, and 49% by Lyncorp, and will be focused on providing diamond drilling services to mineral resource companies in the resource rich, mining province of Saskatchewan.

"We are pleased to enter into this partnership that will allow us to participate equally with industry in the development of resources in our traditional territories as well as the rest of Saskatchewan", says Chief Robert Sylvester of the Birch Narrows First Nation. "We look forward to working closely with Lyncorp and industry in our territory to develop and deliver environmentally responsible and socially acceptable projects in our region."

"We are very pleased to partner with Birch Narrows", said David Orr, Golconda's and Lyncorp's President. "We have made First Nations partnerships an integral component of our strategic growth plan, and believe that it takes this level of mutual respect with all parties to develop and deliver successful projects."

Golconda is in the business of exploration drilling in western and northern Canada and mineral property exploration and development in Nevada.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.