Radius updates on progress at Holly Property and other developments in Guatemala
news release
March 31, 2022
Radius updates on progress at Holly Property and other developments in
Guatemala
Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to
provide an update from our joint venture partner , Volcanic Gold Mines Inc. , on progress at the Holly
property:
Volcanic Gold Mines Inc. reported the following in a news release today:
Government Progress
The Presidential Commission for Peace and Human Rights held the first coordination meetings with
institutions and authorities at the national, departmental, and municipal levels during the past few
weeks regarding the incidents that took place at the Holly property on February 23rd of this year.
From these meetings it is clear that the Central government and Departmental government of
Chiquimula support the Holly project and will work with Volcanic to regain the social license. Volcanic
looks forward to a resolution of the issues and a resumption of work at the project and corresponding
news flow.
Holly Project Gold Discovery and New Exploration Opportunities
The gold and silver discovery we have made at Holly is significant. It is a high-grade vein deposit that
could be mined from underground, causing very little surface disruption. It will not require a
processing plant as in the near future there will likely be two mills in operation within trucking
distance. Volcanic is in the process of concluding an inferred resource calculation and from that we
will generate an approximate value of the deposit that has been discovered to date . Further, the
deposit is open in all directions. We will continue to move forward at a pace that will protect the
investment we have made and the value we have created.
Elsewhere in the country Volcanic is actively reviewing the land position i t optioned from Radius in
June 2020. Several of the areas have been reviewed, some have been rejected and the concession
applications cancelled. To date, three have shown significant promise and we are going through the
process of getting these concessions granted. There are many more areas to review and the work is
ongoing.
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ESG and CSR Responsibilities
Wherever we work, we make it clear to the local population the work we do, the goal of our work and
significance if we are successful (i.e. , the development of a mine could follow, and the positive and
negative implications of that). We then focus on areas where the local population is in favor of
exploration work and where there is a consen sus that long term employment is needed in the
community. Then we get to work and evaluate the potential of that particular area. Occasionally
when area community is clearly not in favor of mining, we inform our partner, Radius Gold Inc., drop
the application and move on.
We have all read about the caravans of young men, women, and families that are leaving their homes
to travel thousands of miles overland. They are taking those risks to get to the Mexico/US border with
the aim of entering the US in search of work for some stability in their family’s future. Why some anti-
mining and anti -development organizations collaborate to prevent the development of natural
resources in Central America, mostly with mis information, is difficult to understand. It generates
conflict in the area by funding aggressive anti-mining and anti-development groups that conflict with
the people who want work and the influx of vital capital to the region.
In all elements of its exploration and business activities, Volcanic conducts itself with integrity and
transparency. Sustainability, truth, social responsibility, health and safety, and economic stability are
prioritized. Volcanic is proud of the strong relationships formed with local communities and
government entities. We strive to create employment and better quality of life for all we encounter.
Shareholders and employees alike can depend on Volcanic to take its responsibilities seriously as we
strive to produce lasting positive impacts for today and future generations.
Terms of Guatemala Radius Gold and Volcanic Gold Mines option
Pursuant to an option agreement signed in May 2020 , Volcanic can earn a 60% interest in Radius’s Holly
and Banderas projects by spending the cumulative amount of US$7.0 million on exploration of the
properties within 48 months from the date of the agreement. An initial US$1M must be spent on
exploration within the 12 months of receiving the required drill permits, which expenditure will include a
minimum 3,000m of drilling on the properties.
Following the exercise of the Option, Volcanic will enter into a standard 60/40 Joint Venture in order to
further develop the Properties. Volcanic has also been granted an exclusive right to evaluate all other
property interests of Radius in Guatemala with a right to acquire an interest in any or all other such
properties on reasonable terms.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico, United States and Guatem ala 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 inve stment and project acquisition opportunities
across the globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway.
ON BEHALF OF THE BOARD
Bruce Smith
President and CEO
Symbol: TSXV-RDU
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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
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, the results of exploration work and future plans at the
Company’s 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”, “reflec ting”, “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, uncertaintie s 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 properties will proceed as intended;
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 activities, estimation of mineral resou rces 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 pro file 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 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.