Mr. Simon Ridgway reports

VOLCANIC GOLD ANNOUNCES VP CORPORATE DEVELOPMENT APPOINTMENT; GRANTS INCENTIVE STOCK OPTIONS

Volcanic Gold Mines Inc. has appointed Adam Buchanan as vice-president, corporate development. Mr. Buchanan has extensive knowledge of capital markets, resource development and investor relations through more than 10 years of experience in the resource sector. He will be responsible for assisting with corporate development, financing, marketing and investor communications. Mr. Buchanan graduated with a BA from Simon Fraser University and has completed courses through the Canadian Securities Institute.

Simon Ridgway, president and chief executive officer of Volcanic, commented: "We are pleased to welcome Adam to the Volcanic management team. Adam is enthusiastic and energetic and, like me, believes we will have a strong gold market in 2023. Adam will manage Volcanic's communications, ensuring our shareholders and stakeholders are provided with the latest information with regard to our corporate plans and developments. We will also benefit from Adam's experience in the identification of areas where we can create value for our shareholders from our portfolio of projects."

In addition, the company has granted to certain of its officers incentive stock options to purchase up to an aggregate of 225,000 common shares of Volcanic exercisable for up to 10 years at a price of 20.5 cents per share.

About Volcanic Gold Mines Inc.

Volcanic brings together an experienced and successful mining, exploration and capital markets team focused on building multimillion-ounce gold and silver resources in underexplored countries. Through the strategic acquisition of mineral properties with demonstrated potential for hosting gold and silver resources and by undertaking effective exploration and drill programs, Volcanic intends to become a leading gold-silver company.

We seek Safe Harbor.