$150,000 in cash and $500,000 in exploration expenditures to be incurred on or before the first

VOLCANIC METALS CORP.

Suite 680, 789 West Pender Street Vancouver, BC V6C 1H2 Tel: (604) 568-6312 / Fax: (604) 357-1419

For Immediate Release TSX-V: VOL

September 21, 2011 – Vancouver, BC, Canada. Volcanic Metals Corp. ("Volcanic") is pleased to announce that it has entered into an agreement to purchase a 25% interest in the Bar Property, consisting of 1,988 quartz claims covering approximately 41,800 hectares located 140 km south-east of Dawson City in the Yukon Territories. The Bar Property is considered a grass-roots exploration project, but is located immediately east of and contiguous to Pacific Ridge's Mariposa Project. The purchase price consists of $150,000 in cash and $500,000 in exploration expenditures to be incurred on or before the first anniversary of the agreement, or cash in lieu thereof. Upon completion of the exploration expenditures, the agreement contemplates the parties entering into a joint venture for the further exploration and development of the property.

The Company also announces that Mr. Gary Freeman has resigned as a director. The Board thanks Mr. Freeman for his contributions to the Company and wishes him success in his future endeavours.

For more information on Volcanic, please visit the company website at www.volcanicmetals.com.

ON BEHALF OF THE BOARD

VOLCANIC METALS CORP.

/s/ Larry Johnson

Larry Johnson Chief Executive Officer and President

For further information contact:

Larry Johnson (604) 644-9213 http://www.volcanicmetals.com

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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