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August 24, 2021 TheNewswire – Vancouver, British Columbia Volcanic Gold Mines Inc. is admiring to address added aerial brand assignment after-effects from La Peña attitude at the Holly Project in Guatemala. The aftermost aperture appear from La Peña area was aperture HDD21-004, which intersected an absorbing 14.8m at 3.86 gt Au and 1,097 gt Ag .  Core adjoining to the appear ambush that was not sampled in the aboriginal affairs has …

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(TheNewswire)

August 24, 2021 TheNewswire – Vancouver, British Columbia Volcanic Gold Mines Inc. (TSXV:VG) (OTC:VLMZF) is admiring to address added aerial brand assignment after-effects from La Peña attitude at the Holly Project in Guatemala.

The aftermost aperture appear from La Peña area was aperture HDD21-004, which intersected an absorbing 14.8m at 3.86 g/t Au and 1,097 g/t Ag (press absolution July 16, 2021 ).  Core adjoining to the appear ambush that was not sampled in the aboriginal affairs has afresh been sampled and assayed.  This continued the ambush in aperture HDD21-004 to 24.0m @ 3.1 g/t Au and 694 g/t Ag.

Hole HDD21-014, the abutting aperture to ambition La Peña structure, cut the attitude area about 50m beneath surface, 70m college that aperture 004. The aperture cut ample argent ambush of 28.3m @ 42 g/t Ag with acerb aberrant mercury and antimony with two attenuated gold intervals including 2.53m @ 2.90 g/t Au and 108g/t Ag, and 2.1m @ 3.60 g/t Au and 92 g/t Ag. The admiration is that this aperture cut La Peña anatomy aloft the basic ore shoot.

Hole HDD21-015 targeted La Peña anatomy at an acclivity of 875m, 50m bottomward dip from 014 and 40m arctic of aperture HDD21-004, aural the Paleozoic phyllites. Aperture HDD21-015 alternate 15.55m @ 7.67 g/t Au and 615 g/t Ag, including 7.25m @ 16.20 g/t Au and 848 g/t Ag.

As with the after-effects in antecedent holes, gold / argent ratios from 1 to 50 to 1 to 1000 announce assorted mineralizing events.

For example:     breach 108.65m to 109.65m alternate 39 g/t Au and 2,400 g/t Ag

interval 117.42m to 118.95m alternate 240ppb Au and 1,200 g/t Ag

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Results to date announce the La Peña arrangement is convalescent at abyss with added intervals and bigger grades than compared with the abreast apparent intercepts.

Holes HDD21-016 to HDD21-025 accept activated the La Peña anatomy over a bang breadth of over 300m and to base of 200m, and the arrangement charcoal accessible in all directions. After-effects from these holes are accepted in the abutting two weeks.

Figure 1. La Peña Zone; Long Section:

Click Image To View Full Size

Steep area at Holly Ridge requires a ample bounded assignment force to administer carriageable rig moves on the abrupt slopes. With the aboriginal rains of the burying season, the bounded workers requested and the Aggregation agreed that they will booty time to sow their crops.  As well, the assignment rig will abide bare maintenance.  The breach will acquiesce administration time to accept after-effects for the ten holes awaiting and to plan targeting the added added circuitous intersections of the Jocotan Accountability breccia and the La Peña attitude system.

Drill holes HDD21-005 through HDD21 -013 activated El Pino and the Alpha structures.  Narrow intercepts of average and aberrant brand gold/silver were intersected.  These holes activated celebrated apparent anomalies.  Drilling at El Pino cut the attitude area decidedly college than intercepts at La Peña and that may anniversary for the attenuated results.  At the Alpha zone, the arrangement was not targeted aural the 200m advanced Jocotan accountability breccia, which conduct at La Peña indicates may be a key ascendancy on the mineralizing system.

Drilling will re-commence already after-effects of holes HDD21-016 to HDD21-025 accept been accustomed and the burying division is complete, adequate mid-September.

Technical Information

Bruce Smith, M.Sc. (Geology), a affiliate of the Australian Institute of Geoscientists, is Volcanics’s Qualified Person as authentic by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.  Mr. Smith has 27 years of mineral assay acquaintance and has able and accustomed the abstruse advice independent in this account release.

Quality Affirmation and Quality Control

Volcanic Gold follows industry accepted procedures for design bulk conduct and analysis. Conduct is agitated out application NQ and HQ admeasurement tooling. Assignment bulk is cut in bisected  using a bedrock saw with one-half of the bulk again taken as a sample for analysis.  Sample intervals are about 1m intervals, bearing samples of amid 2 to 9 kg.  Half-core samples are delivered to the internationally certified Bureau Veritas Mineral class accessories in Nicaragua area the samples are prepared. Assays are completed by Bureua Veritas in Canada.  The samples are blaze assayed for Au and are analysed for Ag and multi-elements application adjustment cipher ICP afterward a four-acid digestion.  Overlimits are analysed application an adapted method.  Multi-element geochemical standards and blanks are routenely entered into the assignment bulk sample beck to adviser class performance.  Quality ascendancy samples submitted were alternate aural adequate limits.

Terms of Guatemala Radius Gold and Volcanic Gold Mines option

Pursuant to an advantage acceding active in May 2020 with Radius Gold Inc. (TSXV:RDU), Volcanic can access a 60% absorption in the Holly and Banderas projects by spending the accumulative bulk of US$7.0 actor on assay of the backdrop aural 48 months from the date of the agreement.  An antecedent US$1M charge be spent on assay aural the 12 months of accepting the appropriate assignment permits, which amount will accommodate a minimum 3,000m of conduct on the properties.

Following the exercise of the Option, Volcanic will access into a accepted 60/40 Collective Adventure in adjustment to added advance the Properties.  Volcanic has additionally been accepted an absolute appropriate to appraise all added acreage interests of Radius in Guatemala with a appropriate to access an absorption in any or all added such backdrop on reasonable terms.

About Volcanic

Volcanic brings calm an accomplished and acknowledged mining, assay and basic markets aggregation focused on architecture multi-million -ounce gold and argent assets in underexplored countries.  Through the cardinal accretion of mineral backdrop with approved abeyant for hosting gold and argent resources, and by adventure able assay and assignment programs, Volcanic intends to become a arch gold-silver company.

For added information, appointment our website at www.volgold.com .

Volcanic Gold Mines Inc.

Simon Ridgway, President and CEO

Neither the TSX Adventure Exchange nor the Investment Industry Regulatory Organization of Canada accepts albatross for the capability or accurateness of this release.

Forward-looking statements

Certain statements independent in this account absolution aggregate advanced statements aural the acceptation of Canadian balance legislation. All statements included herein, added than statements of absolute fact, are forward- attractive statements and include, after limitation, statements about the Company’s affairs for assay assignment in Guatemala. Often, but not always, these advanced attractive statements can be articular by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” action or be accomplished and agnate expressions, including abrogating variations.

Forward-looking statements absorb accepted and alien risks, uncertainties and added factors which may account the absolute results, achievement or achievements of the Aggregation to be materially altered from any results, achievement or achievements bidding or adumbrated by advanced statements. Such uncertainties and factors include, amid others, whether the Company’s planned assay assignment will be advance as intended; changes in accepted bread-and-butter altitude and banking markets; the Aggregation or any collective adventure accomplice not accepting the banking adeptness to accommodated its assay and development goals; risks associated with the after-effects of assay and development activities, admiration of mineral assets and the geology, brand and chain of mineral deposits; hasty costs and expenses; and such added risks abundant from time to time in the Company’s anniversary and anniversary filings with balance regulators and accessible beneath the Company’s contour on SEDAR at www.sedar.com. Although the Aggregation has attempted to analyze important factors that could account absolute actions, contest or after-effects to alter materially from those declared in advanced statements, there may be added factors that account actions, contest or after-effects to alter from those anticipated, estimated or intended.

Forward-looking statements independent herein are based on the assumptions, beliefs, expectations and opinions of management, including but not bound to: that the Company’s declared goals and planned assay and development activities will be achieved; that there will be no absolute adverse change affecting the Aggregation or its properties; and such added assumptions as set out herein. Advanced statements are fabricated as of the date hereof and the Aggregation disclaims any obligation to amend any advanced statements, whether as a aftereffect of new information, approaching contest or after-effects or otherwise, except as appropriate by law. There can be no affirmation that advanced statements will prove to be accurate, as absolute after-effects and approaching contest could alter materially from those advancing in such statements. Accordingly, investors should not abode disproportionate assurance on advanced statements.

Copyright (c) 2021 TheNewswire – All rights reserved.

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