August 07, 2009 17:03 ET

Golconda Provides Update

CALGARY, ALBERTA--(Marketwire - Aug. 7, 2009) - GOLCONDA RESOURCES LTD. ("Golconda") (TSX VENTURE:GA) is pleased to provide an update regarding its exploration activities.

Mitchell Creek Property

Further to a previous press release dated March 13, 2009, approval has been received from British Columbia Ministry of Energy, Mines and Petroleum Resources for work permits to conduct a bulk sampling program in relation to the Mitchell Creek property. The subject property overlays Seabridge Gold Inc.'s "Mitchell Zone" which has been described by Seabridge as "one of the world's largest undeveloped gold/copper deposits".

Kinross Earn-In Agreement

Kinross Gold U.S.A. Inc. has elected not to proceed with further phases of exploration pursuant to the earn-in agreement with Golconda of April, 2007 pertaining to the South Monitor and Monitor Flat properties in Nye County, Nevada. Golconda will be releasing information relating to Kinross exploration drilling activity upon conclusion of internal examination and review. In addition, Golconda will announce further plans pertaining to the subject claims and additional neighboring claims.

Golconda Resources Ltd. is a Calgary based exploration and diamond drilling company with properties in Canada and the U.S. In addition, Golconda owns a diamond drilling company, Lyncorp Drilling Services Inc. based in Smithers B.C. and providing drilling and related services in Western and Northern Canada.

The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.

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