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Golconda Resources Ltd. (the "Corporation" or "Golconda") (TSX VENTURE:GA) is
pleased to announce that its wholly-owned subsidiary, Lyncorp Drilling Services
Inc. ("Lyncorp Drilling") has entered into an Asset Purchase Agreement with
Lyncorp International Ltd. ("Lyncorp International") (the "Transaction")
pursuant to which Lyncorp Drilling agreed to sell four hard-rock drilling rigs
and related inventory and equipment (the "Assets") to Lyncorp International in
consideration of Lyncorp International reducing the amount owed to it by Lyncorp
Drilling by $750,000. The total indebtedness of Lyncorp Drilling to Lyncorp
International as at December 31, 2012 and prior to giving effect to the
Transaction is $3,192,773.


The sale of these assets is in-line with the Corporation's strategic move into
the oil and gas exploration and production business. 


Lyncorp International is controlled by David Mullen, a director of the
Corporation. Together, David Mullen and Lyncorp International hold approximately
48.5% of the outstanding common shares of the Corporation. 


The Corporation has determined that the exemptions from the various requirements
of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are
available for the sale of the Assets to Lyncorp International (Minority Approval
- Fair Market Value Not More Than 25% of Market Capitalization).


The closing of the Transaction is subject to final approval from the TSX Venture
Exchange.


Golconda's first vertical well, drilled on Cold Lake First Nation land with its
joint venture partners, Tri-Rez E-bay Energy Ltd., and a Calgary-based private
oil and gas company, has been equipped for production and testing and clean-up
has been ongoing for the past month. Golconda expects to announce further
results in the coming weeks.


Reader Advisory

Forward-Looking Statements. Certain statements contained in this press release
may constitute forward-looking statements. These statements relate to future
events or the Golconda's future performance. All statements other than
statements of historical fact may be forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of words such as
"seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will",
"project", "predict", "potential", "targeting", "intend", "could", "might",
"should", "believe" and similar expressions. These statements involve known and
unknown risks, uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such forward-looking
statements. Golconda believes that the expectations reflected in those
forward-looking statements are reasonable, but no assurance can be given that
these expectations will prove to be correct and such forward-looking statements
included in this press release should not be unduly relied upon by investors.
These statements speak only as of the date of this press release and are
expressly qualified, in their entirety, by this cautionary statement. In
particular, this press release contains forward-looking statements, pertaining
to Golconda being in a position to announce further results in the coming weeks.



There can be no assurance that forward-looking information will prove to be
accurate, as results and future events could differ materially from those
expected or estimated in such statements. Accordingly, readers should not place
undue reliance on forward-looking information. Except as required by law, the
Corporation undertakes no obligation to publicly update or revise any
forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Golconda Resources Ltd.
David Orr
(403) 539-4440
dorr@golconda.ca
www.golcondaresources.com

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