Mr. Simon Ridgway reports

LONG TERM LAND ACCESS AGREEMENTS SIGNED AT MILA GOLD DISCOVERY ON THE MOTAGUA NORTE PROJECT, GUATELMALA

Volcanic Gold Mines Inc. has signed long-term access agreements with property owners on the Cirilo I exploration licence, Motagua Norte project, in Guatemala.

The Cirilo I exploration licence was granted in September, 2023, and covers an area of 13.5 kilometres squared (4.5 by three km). The land access agreements will allow access to, and exploration of the high-grade Mila gold-silver prospect and nearby mineralized veins (see news release Oct. 11, 2023). An environmental permit to undertake surface and trench sampling is in place. The company is preparing for a trenching and drilling campaign in the new year.

Simon Ridgway, Volcanic Gold Mines president and chief executive officer, commented: "With these key land access agreements now in place, the way is open to start detailed exploration on the bonanza-grade Mila discovery and surrounding gold anomalies. The Volcanic team have observed abundant visible gold at surface in veins and stockwork zones at Mila, with continuous lines of rock chip sampling across mixed outcrop, subcrop and colluvium boulder fields returning up to 34 m averaging 42 g/t gold, and 24 m averaging 54 g/t gold. The team are keen to start systematic work on the project to follow up on these exciting results. The access agreements will allow us to undertake detailed geological mapping and trenching and prepare the way for drill-testing in the new year. Our focus now is on working with the local communities to make sure that everybody is informed and involved and able to fully participate and benefit as the project moves forward."

Technical information

Luc English, PhD, who is a chartered geologist and fellow of the Geological Society of London, is the company's qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Dr. English has reviewed and approved the technical information contained in this news release.

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.

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