Golconda Resources Ltd.: Cold Lake First Nations Joint Venture - Operations Update

Golconda Resources Ltd. (the "Corporation" or "Golconda") (TSX VENTURE:GA) is
pleased to provide the following update in respect of the operations of the Cold
Lake First Nations Joint Venture. 


The Joint Venture has drilled and completed the next three wells of the ten well
program at Cold Lake. The 11-30 and 12-31 wells, being the first two wells of
the program, were completed in 2013. The three new wells are on production test
in three separate pay intervals in the Lower Grand Rapids formation, with
results analogous to producing wells in the immediate area. 


The 11-30 well is back on production and is currently producing 10-15 barrels
(5-7.5 net) of oil per day with a sand cut of approximately 2.5 to 4 barrels per
day. The 12-31 well is currently producing approximately 54 barrels (27 net) of
oil per day with a sand cut of approximately 22 barrels per day. Production
results are based on field estimates. Both wells continue to clean up. 


The Joint Venture anticipates construction and drilling of a minimum of two and
up to five additional wells of the ten well program later this summer. 


Forward-Looking Statements

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 sand cut of wells on joint venture lands improving over time and the timing
of the construction and drilling of the next five wells in the Joint Venture
program. 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. The Corporation does not undertake to update any
forward-looking information except in accordance with applicable securities
laws.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Golconda Resources Ltd.
David Orr
President
[phone]
[e-mail]
www.golcondaresources.com