Golconda Resources Ltd.: Corporate Update- Drilling Completed

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


Golconda Resources Ltd. (TSX VENTURE:GA) (the "Corporation" or "Golconda") is
pleased to announce the successful drilling of its first vertical well of the 10
well program as previously announced on March 22, 2013, on Cold Lake First
Nation lands with its joint venture partners, Tri-Rez Ebay Energy Ltd. and a
Calgary-based private oil and gas company. 


Initial interpretation of this well is that it is analogous to producing wells
in the immediate area based on open hole logs. The well was drilled to a total
depth of 424 metres and the open hole logs indicate the potential of at least
two (2) productive zones with porosities ranging between 30-35%. The well is
currently being equipped for production and the Corporation expects to bring the
well onto production by the end of April 2013, weather permitting. 


The Corporation anticipates that the remaining wells will be drilled after the
spring break-up.


Reader Advisory

This press release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "may", "will",
"should", "believe", "plans", "intends" and similar expressions are intended to
identify forward-looking information or statements. All statements included
herein, other than statements of historical fact, constitute forward-looking
information and such information involves various risks and uncertainties. In
particular, this press release contains forward-looking statements, pertaining
to the initial well being capable of producing oil and the timing of the
drilling of wells on Cold Lake First Nation lands. 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 certain 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. In
particular, with respect to forward-looking statements contained in this press
release, the Corporation has made assumptions regarding, among other things the
timing for receipt regulatory approvals. The Corporation does not undertake to
update any forward-looking information except in accordance with applicable
securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Golconda Resources Ltd.
David Orr
(403) 539-4440
dorr@golconda.ca


Golconda Resources Ltd.
Nicole Robertson
Communications Advisor
(403) 616-4999
nicole.robertson@muskwaproductions.com
www.golcondaresources.com

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