Volcanic updates on progress at Holly Property and other developments in Guatemala | 2022-03-31 | Press Releases

(TheNewswire)

Shares issued 45,543,710 VG

Near – C$.355

W/C +$7.5 Million cash

Vancouver, British Columbia – TheNewswire – Volcanic Gold Mines Inc. (TSXV:VG) (“Volcanic&CloseCurlyDoubleQuote or “the Firm&CloseCurlyDoubleQuote) is pleased to report on the progress created at the Holly House.

Federal government Development

The Presidential Commission for Peace and Human Rights held the initially coordination conferences with establishments and authorities at the nationwide, departmental, and municipal amounts for the duration of the previous few weeks pertaining to the incidents that took location at the Holly property on February 23rd of this year.

From these meetings it is crystal clear that the Central governing administration and Departmental government of Chiquimula aid the Holly job and will operate with Volcanic to get back the social licence. Volcanic appears to be forward to a resolution of the troubles and a resumption of function at the challenge and corresponding information stream.

Holly Task Gold Discovery and New Exploration Opportunities

The gold and silver discovery we have made at Holly is major. It is a significant-grade vein deposit that could be mined from underground, producing very minor area disruption. It will not call for a processing plant as in the close to long term there will probable be two mills in operation inside of trucking distance. We are in the approach of concluding an inferred resource calculation and from that we will generate an approximate value of the deposit that has been identified to date. Even more, the deposit is open up in all directions. We will proceed to move forward at a rate that will guard the investment decision we have designed and the value we have established.

Somewhere else in the place the Business is actively examining the land place it optioned when we signed the agreement with Radius Gold Inc on June 1st 2020. Various of the parts have been reviewed, some have been rejected and the concession applications cancelled. To date, three have demonstrated important assure and the Organization is heading by the system of having these concessions granted. There are many a lot more spots to review and the operate is ongoing.

ESG and CSR Tasks

Wherever we get the job done, we make it very clear to the nearby inhabitants the operate we do, the target of our work and significance if we are profitable (i.e. the growth of a mine could comply with, and the beneficial and destructive implications of that). We then concentration on locations exactly where the nearby population is in favor of exploration do the job and exactly where there is a consensus that prolonged time period work is required in the community. Then we get to get the job done and evaluate the probable of that distinct spot. Often when area group is obviously not in favor of mining, we tell our husband or wife, Radius Gold Inc., drop the software and shift on.

We have all examine about the caravans of youthful gentlemen, females, and family members that are leaving their houses to vacation hundreds of miles overland. They are having those people pitfalls to get to the Mexico/US border with the purpose of moving into the US in lookup of function for some security in their household&CloseCurlyQuotes upcoming. Why some anti-mining and anti-enhancement businesses collaborate to avert the advancement of normal sources in Central The usa, largely with misinformation, is hard to fully grasp. It generates conflict in the space by funding aggressive anti-mining and anti-progress teams that conflict with the individuals who want work and the influx of vital cash to the location.

In all factors of its exploration and company actions, Volcanic conducts alone with integrity and transparency. Sustainability, real truth, social duty, health and fitness and protection, and economic steadiness are prioritized. Volcanic is very pleased of the strong interactions formed with nearby communities and authorities entities. We attempt to develop employment and improved top quality of existence for all we encounter. Shareholders and staff members alike can rely on Volcanic to take its responsibilities severely as we strive to make lasting positive impacts for currently and long run generations.

About Volcanic

Volcanic provides alongside one another an seasoned and productive mining, exploration and cash markets staff concentratedondevelopingmulti-million-ouncegoldandsilverresourcesinunderexploredinternational locations.Viathe strategic acquisition of mineral qualities with shown possible for internet hosting gold and silver resources, and by undertaking efficient exploration and drill systems, Volcanic intends to develop into a top gold-silverorganization.

For further more information, check out our site at www.volgold.com.

Volcanic Gold Mines Inc.

Simon Ridgway, President and CEO

Neither the TSX Enterprise Trade nor the Investment decision Market Regulatory Group of Canada accepts duty for the adequacy or accuracy of this launch.

Ahead-seeking statements

Certain statements contained in this news release constitute ahead-hunting statements in the indicating of Canadian securities legislation.All statements integrated herein, other than statements of historic point, are ahead- on the lookout statements and include things like, without the need of limitation, statements about the Firm&CloseCurlyQuotes plans for exploration perform in Guatemala. Generally, but not usually, these ahead looking statements can be determined by the use of terms this kind of as “estimate&CloseCurlyDoubleQuote,“estimates&CloseCurlyDoubleQuote,“estimated&CloseCurlyDoubleQuote,“potential&CloseCurlyDoubleQuote,“open&CloseCurlyDoubleQuote,“future&CloseCurlyDoubleQuote,“assumed&CloseCurlyDoubleQuote,“projected&CloseCurlyDoubleQuote,“used&CloseCurlyDoubleQuote,“detailed&CloseCurlyDoubleQuote,“has been&CloseCurlyDoubleQuote, “gain&CloseCurlyDoubleQuote, “upgraded&CloseCurlyDoubleQuote, “offset&CloseCurlyDoubleQuote, “limited&CloseCurlyDoubleQuote, “contained&CloseCurlyDoubleQuote, “reflecting&CloseCurlyDoubleQuote, “containing&CloseCurlyDoubleQuote, “remaining&CloseCurlyDoubleQuote, “to be&CloseCurlyDoubleQuote, “periodically&CloseCurlyDoubleQuote, or statements that situations, “could&CloseCurlyDoubleQuote or “should&CloseCurlyDoubleQuote take place or be reached and equivalent expressions, together with unfavorableversions.

Forward-wanting statements include regarded and mysterious pitfalls, uncertainties and other aspects which may induce the genuineresults,performanceorachievementsoftheEnterprisetobemateriallydistinctfromanyresults,effectiveness or achievements expressed or implied by ahead-seeking statements. These kinds of uncertainties and factors incorporate, among the some others, no matter if the Enterprise&CloseCurlyQuotes prepared exploration perform will be move forward as meant variations in normal financial disorders and fiscal markets the Business or any joint enterprise companion not obtaining the economic capability to meet up with its exploration and progress plans threats connected with the benefits of exploration and progress pursuits, estimation of mineral sources and the geology, grade and continuity of mineral deposits unanticipated fees and chargesandtheseotherdangersthoroughfromtimetotimeintheCompany&CloseCurlyQuotesquarterlyandannualfilingswithsecurities regulators and offered under the Corporation&CloseCurlyQuotes profile on SEDAR at www.sedar.com. Although the Organization has tried to identify important aspects that could cause actual steps, activities or final results to differ materially from these described in ahead-looking statements, there may well be other variables that induce actions, events or success to differ from people anticipated, believed orsupposed.

Forward-wanting statements contained herein are centered on the assumptions, beliefs, anticipations and views of management,such asbutnotconstrainedto:thattheFirm&CloseCurlyQuotesmentionedaimsandplannedexplorationandenhancement actionswillberealizedthattherewillbenomaterialsadversealteraffectingtheCorporationoritsattributesand this sort of other assumptions as set out herein. Forward-seeking statements are produced as of the day hereof and the Enterprisedisclaimsanyobligationtoupdateanyahead-searchingstatements,no matter whetherasaend resultofnewfacts, long run gatherings or final results or if not, except as essential by regulation. There can be no assurance that ahead-hunting statementswillestablishtobeaccurate,astruesuccessandforeseeable futuregatheringscouldvarymateriallyfrompeopleanticipated in these types of statements. Appropriately, investors should really not spot undue reliance on ahead-lookingstatements.

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