Volcanic Announces Debt Settlement

VOLCANIC METALS CORP.

#700, 510 West Hastings Street Vancouver, British Columbia V6B 1L8 Telephone: (604) 568-6312 Fax: (604) 357-1419

VOLCANIC ANNOUNCES DEBT SETTLEMENT

Vancouver, BC, Canada – March 31, 2010 – Volcanic Metals Corp. (TSX-V: VOL) today announced that, subject to the approval of the TSX Venture Exchange, it intends to settle $27,400 in outstanding indebtedness to a former consultant of the Company through the issuance of 109,600 common shares at a price of $0.25 per share. The shares issued under the debt settlement will be subject to a hold period of four months and one day from the date of issuance.

ON BEHALF OF THE BOARD

VOLCANIC METALS CORP.

/s/ John LaGourgue John LaGourgue President, Chief Operating Officer and Director

For further information contact:

John LaGourgue (604) 568-6312 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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