Golconda Gold (TSXV:GG) is a growth-focused junior producer with operations in prolific gold districts in South Africa and the US. Positioned as one of the sector’s highest-torque opportunities, Golconda offers investors profitable production, exposure to both gold and silver, and a disciplined, capital-efficient path to meaningful growth.

Golconda Gold is anchored by two cornerstone assets: Galaxy, its cash-flowing South African gold mine, and Summit, a high-grade silver-gold project in New Mexico set for restart. Together, they provide self-funded growth, U.S. exposure, and strong leverage to rising gold prices.

Galaxy, Golconda’s cornerstone asset, is a producing mine in South Africa’s prolific Barberton Greenstone Belt. The operation hosts 941,000 oz gold (M&I, 2.79 g/t) and 1.37 Moz inferred (2.62 g/t), supported by strong infrastructure and access to skilled mining services.

Company Highlights

• Significant Production Growth: On track to triple production over three years at Galaxy while bringing Summit online in Q2 2026.
• Summit Restart and Spin-out: Fully permitted past-producing mine in New Mexico, expected to restart in Q2 2026 and spin out as a standalone US-focused gold-silver producer in Q4 2026.
• No Dilution Strategy: Growth funded through operating cash flow rather than equity raises, ensuring torque to gold without shareholder dilution.
• Insider Alignment: Management and insiders control more than 40 percent of shares, aligning leadership directly with shareholder interests.
• Jurisdictional Strengths: Operations in South Africa’s Barberton Greenstone Belt (long history of gold mining, strong infrastructure) and in the US southwest.
• Exploration Upside: Both Galaxy and Summit hold substantial untested upside with additional ore bodies and underexplored zones.

This Goldconda Gold profile is part of a paid investor education campaign.*

Click here to connect with Goldconda Gold (TSXV:GG) to receive an Investor Presentation

Locksley Resources (ASX:LKY,OTCQB:LKYRF,FSE:X5L) is a US-focused critical minerals company advancing high-grade rare earth elements (REEs) and antimony at its flagship Mojave project in California. Located just 1.4 kilometers from Mountain Pass — North America’s only producing REE mine — Locksley is strategically positioned to support the U.S. drive to onshore critical mineral supply chains, reduce dependence on China, and secure essential inputs for defense, clean energy, and advanced technologies.

The Mojave Project, Locksley’s flagship asset, is among the most strategically located critical minerals projects in the US Spanning 491 claims adjacent to MP Materials’ world-class Mountain Pass mine, Mojave offers Tier-1 infrastructure with highway access and proximity to Las Vegas. Drilling permits for REE and antimony targets are approved, and the 2025 exploration program is fully funded.

Company Highlights

• US-focused Critical Minerals Strategy: Targeting antimony and rare earths, both on the US critical minerals list, at the Mojave project in California, within a federally prioritized supply chain hub.
• Tier-1 Location: Just 1.4 km from the Mountain Pass mine, the only REE producer in the US, with highway access, infrastructure and proximity to major defense and technology industries.
• Drill-ready and Fully Funded: Approvals secured for both antimony and REE drilling programs, with initial campaigns set for 2025.
• Downstream Innovation: Partnership with Rice University to advance DeepSolv solvent-based processing technology for antimony and investigate applications in next-generation energy storage.
• Government and Institutional Pathways: Positioned to benefit from US policies, Department of Defense initiatives, EXIM Bank financing and Department of Energy funding.

This Locksley Resources profile is part of a paid investor education campaign.*

Click here to connect with Locksley Resources (ASX:LKY,OTCQB:LKYRF,FSE:X5L) to receive an Investor Presentation

Investor Insight

With a growth-oriented strategy, Golconda Gold is positioning itself as one of the highest-torque junior gold producers in the sector with assets in prolific gold districts in South Africa and the US. For investors bullish on gold, Golconda is a unique opportunity: a profitable producer with meaningful growth ahead, exposure to both gold and silver, and the discipline to deliver shareholder value in a capital-efficient way.

Overview

Golconda Gold (TSXV:GG;OTCQB:GGGOF) is an unhedged gold producer and explorer with operations in South Africa and the United States. The company is focused on optimizing its current mining and processing operations, reducing costs, and growing organically while pursuing accretive acquisition opportunities.

Its growth story is underpinned by two cornerstone assets: Galaxy Gold, the company’s cash-flowing, long-life South African operation; and Summit, a high-grade silver-gold project in New Mexico poised for a restart. Galaxy provides a steadily growing, self-funded production base, while Summit is positioned as the next major catalyst for Golconda, broadening investor exposure to silver and US operations. These assets enable Golconda to deliver meaningful production growth without dilution, providing investors direct leverage to gold prices at a time when juniors remain undervalued relative to commodity prices.

With strong insider ownership and a disciplined approach to capital, Golconda offers investors a unique combination of operating stability, near-term growth and upside exploration potential.

Company Highlights

• Significant Production Growth: On track to triple production over three years at Galaxy while bringing Summit online in Q2 2026.
• Summit Restart and Spin-out: Fully permitted past-producing mine in New Mexico, expected to restart in Q2 2026 and spin out as a standalone US-focused gold-silver producer in Q4 2026.
• No Dilution Strategy: Growth funded through operating cash flow rather than equity raises, ensuring torque to gold without shareholder dilution.
• Insider Alignment: Management and insiders control more than 40 percent of shares, aligning leadership directly with shareholder interests.
• Jurisdictional Strengths: Operations in South Africa’s Barberton Greenstone Belt (long history of gold mining, strong infrastructure) and in the US southwest.
• Exploration Upside: Both Galaxy and Summit hold substantial untested upside with additional ore bodies and underexplored zones.

Key Projects

Galaxy Gold Mine

Galaxy is Golconda’s cornerstone asset and currently the company’s sole producing mine. Situated in the Barberton Greenstone Belt, one of South Africa’s most prolific gold districts with nearly 150 years of mining history, the mine benefits from established infrastructure, sealed-road access and proximity to skilled mining services. The property hosts a large resource base of 941,000 oz of gold in the measured and indicated categories grading 2.79 grams per ton (g/t), plus 1.37 million oz (Moz) inferred at 2.62 g/t.

Snapshot of Galaxy Gold Mine Operations

The operation is an underground, trackless mechanized mine, currently producing at a run rate of ~12,000 oz/year, with a multi-stage ramp-up plan to 25,000 oz/year by 2027 and up to 45,000 oz/year by 2028. Ore is processed through a 50,000 tonnes per month (tpm) crush-mill-float plant, which was refurbished with a new mill, concentrate tanks, and a filter press. The plant is already capable of handling the full ramp-up capacity, allowing it to expand with minimal capital outlay.

Galaxy produces a refractory gold concentrate sold directly to Ocean Partners, eliminating the need for BIOX or other complex high-capex processing routes. This low-risk sales model enables Galaxy to operate profitably and reinvest cash flow into mine development. The mine plan leverages both the Princeton and Galaxy ore bodies, with development into additional levels and ore bodies among the 21 known mineralized zones on the property. Over its history, Galaxy (formerly, the Agnes mine) has produced more than 1.3 Moz of gold, with current exploration drilling continuing to identify significant upside at depth and along strike.

Economically, Galaxy is highly accretive: at $3,000/oz gold, the operation generates an after-tax NPV5 percent of US$201 million, with life-of-mine free cash flow exceeding US$270 million on conservative assumptions. The operation has a projected all-in sustaining cost (AISC) of ~US$1,000/oz once ramp-up is complete, positioning it competitively within the global cost curve.

Summit Gold-Silver Mine and Banner Mill

The Summit mine, located in the Steeple Rock Mining District of southwestern New Mexico, is a high-grade past-producing underground operation. The New Mexico portfolio also includes the Banner mill, a 240 tpd flotation facility located 57 miles from Summit via paved highways and sealed roads. Golconda acquired the project from Waterton in 2021, along with a streamlined land package totaling ~4,000 acres of patented and unpatented claims.

Summit Mine and Banner Mills snapshot

Summit hosts a defined resource of 1.4 Moz silver and 26,000 oz gold in measured and indicated categories, plus 5.1 Moz silver and 74,000 oz gold inferred. The mine is fully permitted and is expected to restart in Q2 2026, with first concentrate production within 9 to 12 months. The restart strategy is fully funded internally from Galaxy cash flows, ensuring no dilution to shareholders.

The planned annual production profile targets ~10,000 oz gold and 444,000 oz silver at steady state, with an average AISC of US$1,600/oz gold equivalent. At $3,000/oz gold and $35/oz silver, Summit delivers an after-tax NPV5 percent of US$105 million, with cumulative free cash flow of ~US$135 million over its mine life. The project is structured to be spun out into a standalone US-only gold-silver producer by Q4 2026, broadening investor appeal and potentially unlocking a higher valuation multiple.

The Banner Mill 240-tpd flotation facility 57 miles from the Summit mine

Exploration upside at Summit is significant. The Billali Zone, northwest of the main deposit, has returned historical intercepts including 681 g/t silver and 9.38 g/t gold over 4.4 m and hosts a 1992 historical resource of 288,000 tonnes grading 121 g/t silver and 3.67 g/t gold. The nearby Mohawk Area features a 2,000 ft IP anomaly with drill intercepts including 1.5 m at 437.5 g/t silver and 9.34 g/t gold at depth. Both zones remain open and underexplored, providing clear potential to extend mine life and scale production.

Summit’s restart and planned spin-out will give Golconda a second producing asset in a Tier 1 jurisdiction, diversify its commodity mix with silver exposure, and broaden its investor base, while maintaining the company’s no-dilution philosophy.

Management Team

Ravi Sood – Chairman and CEO

Ravi Sood has more than 25 years of experience in capital markets and operations. He is the founder and former CEO of Navina Asset Management, and director of Elemental Altus Royalties and Sparq Systems. He founded and/or co-founded multiple companies in mining, energy and renewables.

Andrew Bishop – Chief Financial Officer

A chartered accountant with more than 22 years of financial and mining experience in Africa and North America, Andrew Bishop brings strong financial discipline and operational insight to Golconda. He was previously with Aureus Mining, Avesoro Resources and Golden Star.

Wayne Hatton Jones – Chief Operating Officer

Wayne Hatton Jones is a mining professional with 38 years of experience in Africa, Asia and Europe. He previously worked at Goldridge, Avocet, Randgold and Harmony. His expertise includes mine development, metallurgy and operations.

Copper Quest Exploration (CSE:CQX, OTCQB:IMIMF, FRA:3MX) is focused on creating shareholder value through the exploration and development of its North American critical mineral portfolio, with more than 40,000 hectares across tier-one jurisdictions in Canada and the US.

In British Columbia, the company’s assets include the Stars copper-molybdenum discovery in the Bulkley Porphyry Belt, the Stellar property with historic showings and new anomalies, an earn-in on the Rip project, a large porphyry copper-molybdenum system, and the Thane Project in the Toodoggone Belt, prospective for copper-gold-molybdenum.

The Stars project is a 9,694-hectare, road-accessible copper-molybdenum property in the prolific Bulkley Porphyry Belt, home to past producers such as Imperial Metals’ Huckleberry mine and Newmont’s Equity Silver Mine. Stars is defined by a 5 × 2.5 km annular magnetic anomaly coincident with a mineralized monzonite intrusion. Drilling in 2018 confirmed a significant porphyry system at the Tana Zone, highlighted by intercepts of 0.466 percent copper over 195.1 meters from 23 meters, including 40 meters averaging nearly 1 percent copper, and 0.20 percent copper over 396.7 meters from 28 meters. All holes to date have returned copper levels well above background, with alteration, intrusive textures, and veining typical of productive porphyry systems.

Company Highlights

• Large, Tier-one Land Position: More than 40,000 hectares across British Columbia’s Bulkley and Toodoggone Porphyry Belts, plus a newly acquired copper-gold porphyry project in Idaho, USA.
• Flagship Discovery at Stars: Drill intercepts of 0.466 percent copper over 195.1 m confirm a fertile porphyry copper-molybdenum system with over 30 km of untested intrusive contacts.
• Multiple Copper Systems: Canadian portfolio includes Stars, Stellar, Rip (earn-in up to 80 percent) and Thane, each offering district-scale potential in proven belts.
• Idaho Acquisition: The Nekash copper-gold porphyry project in Lemhi County, Idaho, is a milestone acquisition aligned with its strategy to build a portfolio of highly prospective copper assets across North America.

This Copper Quest Exploration profile is part of a paid investor education campaign.*

Click here to connect with Copper Quest Exploration (CSE:CQX) to receive an Investor Presentation