Golconda Resources Ltd. Dissolution

CALGARY, ALBERTA--(Marketwired - April 29, 2016) - Golconda Resources Ltd. (NEX:GA.H) (the "Corporation" or "Golconda") announces that at the special meeting (the "Meeting") of the shareholders of the Corporation (the "Shareholders") held on April 29, 2016, more than 98% of the common shares of the Corporation represented at the Meeting voted in favour of a special resolution to voluntarily dissolve the Corporation (the "Dissolution"). The Corporation has no assets or liabilities and the board of directors has resolved to proceed with the Dissolution.

The common shares of the Corporation are currently listed on the NEX and the Corporation is a reporting issuer in the provinces of Alberta and British Columbia. The Corporation will take the appropriate steps to voluntarily delist from the NEX and following the Dissolution will submit the certificate of dissolution to the Alberta Securities Commission and British Columbia Securities Commission causing it to cease to be a reporting issuer.

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. Specifically, and without limitation, this press release contains forward-looking statements and information relating to the Dissolution. In respect of the forward-looking statements and information set out in this press release, the Corporation has provided such in reliance on certain assumptions that they believe are reasonable at this time, including the timing of the Dissolution. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include risks and uncertainties inherent in the nature of the Dissolution, the possible delay in the timing of the Dissolution and unknown liabilities which may be asserted in connection with the Dissolution. 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.