Golconda Resources Ltd.: Initial Sale of Oil Production by Cold Lake First Nations Joint Venture

Golconda Resources Ltd. (the "Corporation" or "Golconda") (TSX VENTURE:GA) is
pleased to announce that the first 2 loads of heavy oil (a total of
approximately 377 barrels) were sold by the Cold Lake First Nations Joint
Venture on Wednesday, October 9.


David Orr, Golconda's President, commented," This is a great day for Golconda,
our shareholders, our joint venture partners Tri Rez Energy Ltd. and Kasten
Energy Inc., and for all of the members of Cold Lake First Nations. We
anticipate that the coming months will see many more milestones achieved as we
work together to further advance our project."


"Cold Lake First Nations has been producing oil continuously for more than 20
years. The shipment of oil we sent to market on October 9, 2013, marked a
historic occasion for our Nation because it was the first shipment of oil that
was produced by an entity that is majority owned by Cold Lake First Nations. We
are very pleased with the progress we have achieved with our Joint Venture
partners Golconda and Kasten and we look forward to even greater success," said
Walter Janvier, President, Tri Rez Energy.


As a project update, the 11-30 well is cleaning up as expected relative to the
analog pool and is currently making approximately 10-15 barrels per day, with a
sand cut of approximately 2.5 to 4 barrels per day. The 12-31 well is exceeding
expectations and is currently producing approximately 60 barrels per day with a
sand cut of approximately 24 barrels per day. Both wells, as noted, continue to
clean up. 


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 expected production rates and sand cut of wells on joint venture lands
improving over time. 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 comparability of its well to offsetting wells
in the area. 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