Golconda Resources Ltd. announces that its wholly-owned subsidiary, Golconda Gold, Inc. has disposed of an aggregate of 17 "RV" unpatented lode mining claims and associated data situated in Nye County, Nevada to Mountain Gold Claims, LLC, Series 27.
As consideration for the Disposition, Mountain Gold granted Golconda Gold a royalty equal to 1% of the Net Smelter Return received from the sale of minerals produced from the Assets.
Mountain Gold is controlled by Thomas Callicrate, a director of the Corporation. Together, Thomas Callicrate and Mountain Gold hold less than 0.1% of the issued and outstanding shares of the Corporation.
Source: http://golcondaresources.com/