GOLCONDA RESOURCES LTD.

GOLCONDA RESOURCES LTD.

March 09, 2005 08:00 ET

Golconda Resources Ltd.: Update on Shulin Lake, Alaska Diamond Project


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GOLCONDA RESOURCES LTD.

TSX VENTURE SYMBOL: GA

MARCH 9, 2005 - 08:00 ET

Golconda Resources Ltd.: Update on Shulin Lake, Alaska
Diamond Project

CALGARY, ALBERTA--(CCNMatthews - March 9, 2005) - Golconda Resources
Ltd. (TSX VENTURE:GA)

Reinterpretation of our airborne magnetic survey showed three magnetic
anomalies as the main target of our drill project. These anomalies seem
to be part of a larger volcanic centre.

Two of these anomalies have now been drilled to a depth of 301m and
332m, respectively. The drill core will be moved this week from the
property and shipped to Lakefield Laboratories to be tested for
diamonds.

The rock encountered in the drill holes contained the same material that
also made up part of the sample from holes 10 and 22. These samples
contained the previously discovered diamonds and indicator minerals. The
drill rig has now been moved to the third target and drilling has
commenced.

Guenter Liedtke and Gerhard Jacob are the designated qualified persons
responsible for exploration on the project under NI 43-101.

The project is a joint venture between Golconda (51%), Shulin Lake
Mining Inc., a private company (39.8%), and Shear Minerals Ltd. (9.2%).

On behalf of Golconda Resources Ltd.,

Guenter J. Liedtke, President

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Golconda Resources Ltd.
    Guenter Liedtke
    (403) 232-6828
    (403) 232-8650 (FAX)
    Email: golcondaresources@telus.net
    Website: www.golcondaresources.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.