Volcanic Executes Option on Guatemala Gold/Silver Properties and Engages Roth Capital Partners as Financial Advisor
200 Burrard Street, Suite 650 Tel: 604.801.5432
Vancouver, BC V6C 3L6 Fax: 604.662.8829
TSX-V: VG
NEWS RELEASE
Volcanic Executes Option on Guatemala Gold/Silver Properties and Engages Roth
Capital Partners as Financial Advisor
June 1, 2020 – Vancouver, British Columbia – Volcanic Gold Mines Inc. (TSXV: VG) is pleased to announce
that the Company has executed an Option Agreement with Radius Gold Inc . (TSXV:RDU) to earn into a
large land position in Eastern Guatemala.
Under the terms of the Option, which are subject to TSX Venture Exchange approval, Volcanic can earn a
60% interest in the Holly and Banderas Properties (full details of the properties are available on the
Company’s website) by completing a minimum C$3 million financing and spending US$7.0 million on
exploration of the Properties within 48 months from the date drilling permits are granted . An initial
US$1M must be spent on exploration within 12 months of receiving the required drill permits, including a
minimum 3,000m of drilling. Upon the successful completion of the financing, Volcanic will make a cash
payment to Radius of C$100k. Following the exercise of the Option, Volcanic will enter into a standard
60/40 Joint Venture with Radius in order to further develop the Properties.
Volcanic will have the exclusive right for 24 months following the execution of the Option to evaluate the
other property interests of Radius in Eastern Guatemala and to enter into an agreement to acquire an
interest in any of such other properties on reasonable mutually agreed upon terms.
Charles Straw, CEO and Director, commented: “We are pleased to have the opportunity to acquire an
interest in this highly prospective land position and look forward to commencing a drill program to further
advance the Holly and Banderas P roperties. At the same time, we are seeking to acquire additional
property interests with the aim of building a portfolio of properties of merit for the Company.”
In addition to the Option with Radius, Volcanic has engaged Roth Capital Partners for a period of one year
as the Company’s exclusive financial advisor with respect to (i) any merger, consolidation, acquisition,
disposition of all or a significant portion of the capital stock or assets of the Company, tender or exchange
offer, leveraged buy-out, formation of a joint venture or partnership, or any other business combination;
or (ii) any offering of the Company’s debt, equity or equity-linked securities.
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About Volcanic
Volcanic brings together an experienced and successful 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.
Charles Straw, Director/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 option to acquire an interest in
the Holly and Banderas Properties. Often, but not always, these forward looking statements can be identified by the
use of words such as “estimate”, “estimates”, “es timated”, “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, whether the Company will exercise its option to acquire an interest in th e Holly and Banderas Properties;
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 exp loration
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 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 Company will exercise its option to acquire an interest in the Holly
and Banderas Properties ; 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 stat ements 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.