Radius Gold provides update on activities in Guatemala
news release
September 1, 2022
Radius Gold provides update on activities in Guatemala
Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius Gold” or the “Company”) is
pleased to provide an update on activities being conducted by JV partner Volcanic Gold Mines Inc .
(TSXV-VG) at the Company’s properties in Guatemala.
Holly Property
Volcanic filed on SEDAR an NI 43 -101 technical report in support of the previously announced maiden
Inferred Mineral Resource Estimate for the Holly property, Guatemala (see Radius news release June 9,
2022). The Mineral Resource Estimate is effective June 7, 2022 and is reported in accordance with the
Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards (2014) incorporated by
reference in National Instrument 43 -101 - Standards of Disclosure for Mineral Projects. A maiden
Inferred Mineral Resource of 406,316 oz Au Eq* has been estimated for the first target, La Peña vein at
Holly. The high grade La Peña vein remains open to expansion along strike and at depth. Several other
drill targets remain to be tested at Holly with potential for new discoveries.
Volcanic and Radius continue to work closely with the local communities toward employment
opportunities and educational outreach. The community’s primary areas of interest are more
employment and positive projects. We are diligently working with the various community participants
and are encouraged by the Community Councils for Urban and Rural Development (COCODE) of
Guatemala looking for further discussion. The COCODE is configured as the coordinating entity for
participation at the community level and is made up of residents of the corresponding community.
Volcanic is currently advancing various studi es and reports for the Holly property including a
hydrogeological study, an environmental monitoring report and a mine design and facility report.
Volcanic intends to resume drilling once Bluestone Resources has been granted a permit to build a mine
at Cer ra Blanco. Bluestone states that it continues to advance its community engagement and
socialization efforts to safeguard social acceptance for the development of Cerro Blanco. The Company
is committed to demonstrating responsible mining practices and forma lizing social acceptance to
continue advancing the Holly property. Maintaining and building social acceptance in support of
achieving the environmental permit amendment by year -end remains the main objective . This
permitting would be a significant event for the Holly property.
* Gold Equivalent (AuEq) values based on US$1800 Au and US$22 Ag, using formula: gold g/t + (silver g/t*0.01222)
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Motagua Norte Project
At Motagua Norte, the first regional prospecting area discovery resulting from the Company’s 2020
agreement with Volcanic, multi-element rock chip and soil geochemistry conducted by Volcanic have
defined a continuous 2 -3 kilometre long elevated gold trend. Samples include anomalous gold up to
692 g/t. A substantial amount of surface work is being analy zed and interpreted. A s a result of the
extremely high gold numbers coming from the surface sampling, the next step after the property
concessions are granted will be a trenching campaign in advance of drilling. Radius is currently
considering terms for a possible option of the Project to Volcanic.
The Motagua Norte Project has low population density with the main target areas having large farms
with a few private owners. Formal landowner access agreements are in place. Volcanic has prepared and
submitted environmental permits and Radius and Volcanic are working to prioritize the granting of these
concessions.
Banderas Property
Volcanic has advanced its application for an Exploitation License at the Banderas property. This includes
preparing a work plan and a Mining Environmental Management plan. Volcanic continues to work on
access agreements with an adjoining community prior to commencing any drilling at Banderas.
Consultation work is required with the community to ensure the benefits of the project are spread out
and all affected communities in the area consent.
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’s Qualified
Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith
has reviewed and approved the technical information contained in this news release.
Radius Gold Inc.
Radius Gold has a portfolio of projects located in Mexico and Guatemala which it continues to advance,
utilizing partnerships where appropriate in order to retain the Company’s strong treasury. At the same
time, management is seeking out additional investment and project acquisition opportunities across the
globe. Radius Gold is committed to environmental and social responsibility with a focus on responsible
development to generate positive outcomes for all stakeholders.
ON BEHALF OF THE BOARD
Bruce Smith
President and CEO
Symbol: TSXV-RDU
Contact: Bruce Smith
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: [email protected]
Website: www.radiusgold.com
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Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward -looking statements within the meaning of
Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-
looking statements and include, without limitation, statem ents about the results of exploration work and future
plans at the Company’s Guatemala properties . Often, but not always, these forward looking statements can be
identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”,
“assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”,
“reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur
or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to be materially different from any results,
performance or achievements expressed or implied by forward -looking statements. Such uncertainties and factors
include, among others, whether the planned exploration work at the Company’s Guatemala properties will proceed
as int ended; changes in general economic conditions and financial markets; the Company or any joint venture
partner not having the financial ability to meet its exploration and development goals; risks associated with the
results of exploration and development a ctivities, estimation of mineral resources and the geology, grade and
continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in
the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on
SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those described in forward-looking statements, there may
be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to: that the exploration work at the Company’s Guatemala properties will
advance as planned; that the Company’s stated goals and the planned exploration and development activities at its
properties will be achieved; that there will be no material adverse change affecting the Company or its properties;
and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the
Company disclaims any obligation to update any forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by law. There can be no assurance that forward -looking
statements will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.