Golconda Announces Disposition
January 5, 2015
CALGARY, ALBERTA — Golconda Resources Ltd. (the “Corporation” or “Golconda”) announces that its wholly-owned subsidiary, Golconda Gold, Inc. has disposed of an aggregate of 17 “RV” unpatented lode mining claims and associated data situated in Nye County, Nevada (the “Assets”) to Mountain Gold Claims, LLC, Series 27 (“Mountain Gold”) (the “Disposition”). As consideration for the Disposition, Mountain Gold granted Golconda Gold a royalty equal to 1% of the Net Smelter Return received from the sale of minerals produced from the Assets.
Mountain Gold is controlled by Thomas Callicrate, a director of the Corporation. Together, Thomas Callicrate and Mountain Gold hold less than 0.1% of the issued and outstanding shares of the Corporation.
Golconda has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the Disposition (Formal Valuation – Issuer Not Listed on Specified Markets; Minority Approval – Fair Market Value Not More Than 25% of Market Capitalization).
For more information please contact:
Ph: (403) 910-1836 e-mail: [email protected]
web site: www.golcondaresources.com
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.