November 19, 2007 17:10 ET

Golconda Resources Ltd. Closes $170,000 Private Placement- Warrants Extended

CALGARY, ALBERTA--(Marketwire - Nov. 19, 2007) - Golconda Resources Ltd. (TSX VENTURE:GA):

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered Private Placement announced on October 29, 2007.

The Private Placement, which raised $170,000, consists of 1 million units. Each unit was priced at $0.17 and included one common share and one-half of one share purchase warrant. Each warrant can be exercised into one common share at a price of $0.25 until the close of business on November 18, 2008. The 1,000,000 common shares issued as part of the units, and those to be issued upon the exercise of the 500,000 warrants, are subject to a hold period until March 21, 2008.

Lyncorp International Ltd. (David Mullen), an insider of Golconda Resources Ltd., subscribed for all the units. The proceeds from this Private Placement will be used to fund drilling in Nevada.

On October 31, 2007, the TSX Venture Exchange consented to the second and final extension of the expiry date of 2,750,000 warrants to May 14, 2008. The exercise price remains unchanged at $0.30 per share. The warrants were issued on May 15, 2006 pursuant to a private placement of 5,500,000 shares with attached 2,750,000 warrants.

On behalf of Golconda Resources Ltd.,

Guenter J. Liedtke, President

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

Contact Information