Golconda Gold produces 13,020 oz Au in 2025

Executive Summary

• Golconda Gold Ltd. reported a 69% year-over-year increase in gold production at its Galaxy mine for the full year ended December 31, 2025, totaling 13,020 ounces.
• The company achieved a 68% increase in gold sales volume and a 44% increase in average realized gold price compared to FY 2024, significantly improving the balance sheet and working capital position.
• Operational highlights include the establishment of stoping at the new Princeton Top area, completion of subvertical shaft refurbishment, and a 54% increase in ore tonnes mined.

Key Details

• Full-Year 2025 Production: 13,020 ounces of gold produced at the Galaxy mine.
• Quarter 4 2025 Production: 3,455 ounces of gold.
• Mining Volume: Mined 135,428 tonnes of ore from Galaxy and Princeton orebodies at an average grade of 3.46 g/t (up from 87,695 tonnes at 3.18 g/t in FY 2024).
• New Mining Area: Established stoping at Princeton Top in Q2 2025, contributing 16,477 tonnes of ore at 3.03 g/t.
• Infrastructure: Completed refurbishment of the subvertical shaft and associated infrastructure on Galaxy 26 and 27 levels; first ore development blast occurred in December 2025.
• Equipment: Added one new drill rig, three LHDs, and two dump trucks to the mining fleet.
• Stockpile: Ended Q4 2025 with 6,410 tonnes of stockpiled ore (avg grade 3.21 g/t), containing approx. 660 ounces of contained gold to be processed in Q1 2026.
• Processing Output: Produced 11,289 tonnes of concentrate at an average grade of 35.9 g/t.
• Gold Sales: Sold 10,143 ounces of payable gold at an average realized price of $3,458/oz (up from 6,049 ounces at $2,394/oz in FY 2024).
• Production Growth: 69% increase in gold production year-over-year.
• Sales Growth: 68% increase in gold sold year-over-year.
• Price Increase: 44% increase in average realized gold price year-over-year.

Notable Quotes

• "Two thousand twenty-five was a transformational year for Galaxy and Golconda Gold. In line with the company's development plan, two historic mining areas were re-established during the year -- Princeton Top and Galaxy 26/27 levels -- which, along with significant investment in mining equipment from both a capital and preventative maintenance perspective, enabled gold production to increase 69 per cent compared to 2024. This significant increase in production, combined with the material increase in realized gold price during 2025, has enabled the company to invest further in the Galaxy development plan and sustainable future production growth while also significantly improving the company's balance sheet and working capital position. We are confident that our investments will continue to result in increasing production at Galaxy." — Ravi Sood, CEO