Golconda Resources Ltd. Announces Meeting Results

CALGARY, ALBERTA — Golconda Resources Ltd. (the “Corporation” or “Golconda”) announces that at the annual general and special meeting held in Calgary, Alberta on January 23, 2015 (the “Meeting”) holders of common shares of the Corporation: (i) re-elected Howard G. Coopersmith, David E. Mullen, Gerald N. Gilewicz, Thomas E. Callicrate and Robert J. Hunt to the board of directors; (ii) re-appointed KPMG LLP as the auditors of the Corporation; (iii) ratified the stock option plan; (iv) approved the consolidation of the common shares of the Corporation on the basis of one (1) post-consolidation share for up to every 10 pre-consolidation shares; and (v) approved the sale of the Corporation’s interest in the joint venture agreement with respect to oil and gas exploration and development on approximately 1,600 acres of lands in the Cold Lake area in northeast Alberta (the “Asset Sale Transaction”). The Asset Sale Transaction is expected to close in the next two weeks and is subject to customary closing conditions, including the approval of the TSX Venture Exchange.

Further disclosure on the matters approved at the Meeting, including the Asset Sale Transaction, can be found in the management information circular dated December 22, 2014 which was filed on SEDAR on December 29, 2014.

For more information please contact:
David Orr
Ph: (403) 910-1836 e-mail: dorr@golconda.ca
web site: www.golcondaresources.com

NT3