Mr. Bruce Smith reports

RADIUS GOLD AND VOLCANIC GOLD MINES RECEIVE SHAREHOLDER AND EXCHANGE APPROVAL OF MOTAGUA NORTE PROJECT OPTION

The previously announced (see Radius Gold Inc. news release Sept. 18, 2023) signing of an amended option agreement between Radius Gold and Volcanic Gold Mines Inc., which includes the Motagua Norte project in exchange for the Banderas project, has been approved by the shareholders of each company and the TSX Venture Exchange. Disinterested shareholder approval was received at the respective annual general meetings of Radius and Volcanic held on Dec. 14, 2023.

The original earn-in requirement for Volcanic to spend $7-million (U.S.) in exploration of Radius's Guatemala properties remains unchanged. Under the modified option agreement, Volcanic has an exclusive option to earn a 60-per-cent interest in the Holly and Motagua Norte properties by spending $7-million (U.S.) on exploration of the properties. Expenditures previously made by Volcanic on exploration of the Banderas property are credited toward the $7-million (U.S.) expenditure requirement.

As Radius and Volcanic have a common director and three common officers, Volcanic is a non-arm's-length party to Radius within the meaning of TSX Venture Exchange Policy 5.9. The modified option agreement is not, however, a related party transaction as defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions and therefore the requirements of the exchange's Policy 5.9 and MI 61-101 do not apply.

About Radius Gold Inc.

Radius has a portfolio of projects located in Mexico and Guatemala which it continues to advance, utilizing partnerships where appropriate to retain the company's treasury. At the same time, management is seeking out additional investment and project acquisition opportunities across the globe. Radius is a member of the Gold group of companies, led by Simon Ridgway.

We seek Safe Harbor.