Mr. Simon Ridgway reports

VOLCANIC GOLD PROPOSES EXTENSION OF PREVIOUSLY ISSUED SHARE PURCHASE WARRANTS

Volcanic Gold Mines Inc.'s management has determined that it is in the best interests of the company to extend the expiry date of certain common share purchase warrants exercisable at 70 cents per share which were issued in October, 2020, pursuant to the company's public offering and concurrent private placement.

The original expiry date of these warrants of April 20, 2022, was previously extended to April 20, 2023, and it is now proposed, subject to TSX Venture Exchange acceptance, that the expiry date of 6,273,250 outstanding warrants issued pursuant to the public offering, and 1,558,550 outstanding warrants issued pursuant to the concurrent private placement be extended by a further year, to April 20, 2024.

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.