Long term land access agreements signed at Mila gold discovery on the Motagua Norte project, Guatemala
200 Burrard Street, Suite 650 Tel: 604.801.5432
Vancouver, BC V6C 3L6 Fax: 604.662.8829
TSX-V: VG
20th December, 2023
Long term land access agreements signed at Mila gold discovery on the
Motagua Norte project, Guatemala
News Release
Shares issued 45,551,210
VG close - C$0.235
Vancouver, British Columbia – Volcanic Gold Mines Inc. (TSX V-VG) (“Volcanic” or the “Company”) is
pleased to announce that long term access agreements have been signed with property owners on the
Cirilo I exploration licence, Motagua Norte project , in Guatemala. The Cirilo I exploration license was
granted in September 2023 and covers an area of 13.5 km² (4.5 x 3 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 CEO , 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 t hat 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.
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About Volcanic
Volcanic brings together an experienced and successfu l mining, exploration and capital markets team
focused on building multi-million-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.
For further information, visit our website at www.volgold.com.
Volcanic Gold Mines Inc.
Simon Ridgway, President and CEO
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, statements about the Company’s plans for its property interests
in Guatemala. 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, the uncertainties inherent in the mineral resource estimates; whether the Company’s
planned exploration work will be proceed as intended; whether the Company ’s plan for its property interests in
Guatemala 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 activiti es, 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 t o 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 Company’s stated goals and planned exploration and development
activities 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.