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 common share purchase warrants exercisable at 30 cents per share which were issued in July, 2020, pursuant to the company's private placement financing.

Accordingly, subject to TSX Venture Exchange acceptance, the expiry date of 8,813,500 outstanding warrants will be extended by one year, from July 26, 2023, to July 26, 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.