Golconda Gold Ltd. (“Golconda Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) is pleased to announce the production of 3,588 ounces of gold for the third quarter of 2025 (“Q3”) at its Galaxy Gold Mine (“Galaxy”), an increase of 18% in gold production compared to Q2 2025 and an increase of 51% compared to with Q3 2024.
The production figures for the third quarter are as follows:
| Mining | Q3 2025 | Question 2 2025 | Q3 2024 | ||
| Princeton | Ore extracted | (T) | 22,303 | 12,346 | 7,231 |
| Ore grade | (g/t) | 3.39 | 4.63 | 3.95 | |
| Waste | (T) | 11,037 | 11,317 | 10,669 | |
| Milky Way | Ore extracted | (T) | 18,200 | 19,135 | 20,870 |
| Ore grade | (g/t) | 3.22 | 3.06 | 2.91 | |
| Waste | (T) | 7,253 | 10,410 | 14,580 | |
| Total | Ore extracted | (T) | 40,503 | 31,481 | 28,101 |
| Ore grade | (g/t) | 3.31 | 3.67 | 3.18 | |
| Waste | (T) | 18,290 | 21,727 | 25,249 |
| Processing | Q3 2025 | Question 2 2025 | Q3 2024 | ||
| Concentrate produced | (T) | 3,229 | 2,480 | 2,129 | |
| Concentrate quality | (g/t) | 34.6 | 38.0 | 34.8 | |
| Gold produced | (oz) | 3,588 | 3,030 | 2,384 |
CEO of Golconda Gold, Ravi Sood, commented: “Galaxy achieved record gold production in the third quarter, with a total of 3,588 ounces of gold, up 18% from the second quarter of 2025 and up 51% from the third quarter of 2024. This was largely due to increased ore extraction from the ore of Princeton, an increase of 81% compared to the second quarter of 2025, due to the commencement of mining in the Princeton Top section during the quarter the first three quarters of 2025 are 74% higher than the same period in 2024. With the significantly higher gold price, the company is generating significant operating cash flow and continues to deleverage its balance sheet and invest in further expansion at Galaxy, including renovation of the existing sub-vertical shaft and associated infrastructure to enable second level mining at the Galaxy ore body by the end of 2025, adding an additional ore source to the Galaxy ore base. processing plant, which has significant spare capacity 1 .”
About Golconda Gold
Golconda Gold is an unhedged gold producer and explorer with mining operations and exploration properties in South Africa and New Mexico. Golconda Gold is a publicly traded company and its shares are listed on the TSX Venture Exchange under the symbol “GG” and the OTCQB under the symbol “GGGOF”. Golconda Gold’s management team consists of experienced mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programs. Golconda Gold is committed to operating to world-class standards and is focused on the safety of its employees, respecting the environment and contributing to the communities in which it operates.
Remark:
(1) This is forward-looking information and is based on a number of assumptions. See “Warnings”.
Warnings
Certain statements in this press release constitute “forward-looking statements.” All statements other than statements of historical fact contained in this press release, including, but not limited to, statements regarding the Company’s expectation that mining on a second level of the Galaxy ore body will commence by the end of 2025, the Company’s future financial position and results of operations, its strategy, proposed acquisitions, plans, objectives, goals and targets, and all statements preceded by, followed by or containing the words “believe,” “expect,” “seek,” “intend,” “plan,” “continue,” “will,” “may,” “would,” “anticipate,” “estimate,” “predict,” “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 those expressed, implied or predicted 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 management’s discussion and analysis of the Company for the year ended December 31, 2024. Management makes forward-looking statements because it believes they provide useful information to investors in considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Accordingly, all forward-looking statements contained in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and no assurance can be given that actual results or developments will be achieved or, even if substantially achieved, that they will have the expected effects on or on the Company. These forward-looking statements are made as of the date of this press release and the Company undertakes 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 for the disclosure contained in the press release has been approved by Kevin Crossling Pr. Science 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 contained herein and has appropriately verified 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 more information please contact:
The swamp of treatment
CEO, Golconda Gold Ltd.
+1 (647) 987-7663
ravi@golcondagold.com
www.golcondagold.com
#Golconda #Gold #releases #production #update