Volcanic completes $375,000 private placement

200 Burrard Street, Suite 650 Tel: 604.801.5432

Vancouver, BC V6C 3L6 Fax: 604.662.8829

TSX-V: VG

NEWS RELEASE

Volcanic completes $375,000 private placement

April 17, 2019 – Vancouver, British Columbia – Volcanic Gold Mines Inc. (TSXV: VG) is pleased

to announce that it has closed its previously announced private placement financing with the

issuance of 1,500,000 units at $0.25 per unit, for proceeds of $375,000. Each unit consists of one

common share and one warrant entitling the holder to purchase one additional common share of the

Company at $0.35 for one year from closing.

The common shares and warrants issued in the placement are subject to a resale restriction until

August 17, 2019. The proceeds of the financing are intended to be used for general working capital

purposes.

About Volcanic

Volcanic brings together an experienced and successful mining, exploration and capital markets

team focused on building multi -million ounce gold resource s in underexplored countries. Through

the strategic acquisition of mineral properties with demonstrated potential for hosting gold

resources, and by undertaking effective exploration and drill programs, Volcanic intends to become

a leading gold company.

For further information, visit our website at www.volgold.com.

Volcanic Gold Mines Inc.

Simon Ridgway, Executive Chairman

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 business goals and the intended use

of the private placement proceeds. 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”,

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“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 intended use of the private placement proceeds ; changes in general economic conditions and financial

markets; t he 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

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 identif y 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 private placement proceeds will be spent as stated; 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.