Volcanic initiates drilling and exploration works at its newly-acquired Mandiana Project, Guinea
200 Burrard Street, Suite 650 Tel: 604.801.5432
Vancouver, BC V6C 3L6 Fax: 604.662.8829
TSX-V: VG
NEWS RELEASE
Volcanic initiates drilling and exploration works at its newly-acquired
Mandiana Project, Guinea
April 4 , 2017 – Vancouver, British Columbia – Volcanic Gold Mines Inc. (the “Company”)
(TSXV: VG) is pleased to report that it has commenced drilling works at its newly -acquired
Mandiana Project (the “Project”), Guinea. A program comprising approximately 2000m of reverse-
circulation and diamond core drilling has been laid out , the purpose of which will be to gain
important information regarding the geological structures that control the mineralization within the
current Inferred Mineral Resource. Such information will contribute towards the definition of
subsequent drilling activities within the 2017 exploration season. The program will also serve to
infill areas of the Inferred Mineral Resource.
Previous work by Sovereign Mines of Africa plc (“Sovereign”) led to the definition of an Inferred
Mineral Resource at Mandiana of 16.1 Mt @ 1.18 g /t for 612,000 oz Au (SRK, 2016 1). Sensitivity
analysis2 by SRK suggests an increase in deposit grade with cut -off, for example 5.7 Mt @ 2.27 g/t
for 417,000 oz Au at a higher cut -off grade of 1.0 g/t Au. Drilling and surface geochemical data
suggest that the Mineral Resource at Mandiana is open to the north, east, south and at depth.
1Independent Technical Report for the Mandiana Gold Project, Guinea, SRK Consulting (Canada) Inc., December 23 2016
2Not to be misconstrued as a Mineral Resource Statement
In addition to drilling, Volcanic will perform property -wide prospecting of artisanal workings (or
orpaillages), as well as systematic geochemical sampling of the Mandiana South landholding -
which has not previously been explored in this fashion. Very importantly, a strong north -south
lineation is discernible in the orpaillages throughout the property, and these extend clearly in both
directions along strike from the current Inferred Mineral Resource on two trends, as well as on a
third parallel trend to the west.
Most notably the present Inferred Mineral Resource was discovered using artisanal working as a
targeting guide, and only a relatively small portion of these lineaments has been tested by drilling.
The north-south orientation of the orpaillages is of particular significance, as it is concordant with
the dominant structural element that gives rise to mineralization both in the Siguiri Basin, and at the
Siguiri Mine1, approximately 80 km to the north of the Project. It is anticipated that the Company’s
prospecting and sampling program will serve to define a number of other features for near -term
drill-testing.
1 Erwann Lebrun, John Miller, Nicolas Thébaud, Stanislav Ulrich, and T. Campbell McCuaig, Structural Controls on an Orogenic
Gold System: The World-Class Siguiri Gold District, Siguiri Basin, Guinea, West Africa, in Economic Geology, v. 112, pp. 73–98.
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About the Mandiana Project
In January 2017, Volcanic acquired an indirect 75% interest in the Mandiana Project in Guinea .
The remaining 25% interest in the Project is held by SOGUIPAMI, a Guinean government -owned
business entity formed to conduct mineral exploration projects.
The Project consists of two contiguous prospecting permits (Mandiana North and Mandiana South),
or “Permis de Recherche” which together cover an area of over 300 square kilometres. The Project
is not subject to any royalties, back-in rights or encumbrances.
The Mandiana Project is underlain by geology comparable to that of many other Birimian- age
volcano-sedimentary seq uences in West Africa, in which gold mineralization typically exhibits a
strong relationship with major structural and hydrothermal zones. At Mandiana the gold
mineralization associates with a network of quartz veins which appear to relate to such zones, and is
located at major lithological and structural breaks. In the near vicinity and of very similar geological
character is AngloGold Ashanti ’s Siguiri Gold Mine (Measured and Indicated Resources of 3.37
Moz Au and Inferred Resour ces of 2.14 Moz Au). Other significant gold deposits and mines in the
neighboring area include Hummingbird Resources’ Yanfolila project, Avnel’s Kalana property, and
Avocent’s Tri-K project.
Prior to cessation of work activities due to a shortage of market funding in 2013, Sovereign drilled
119 RC and diamond drill holes for a total of 16,624 meters at the property. Drill testing included
the four zones (Yegbelen, Foulouni, Damantare and Woyondjan) that now form the basis of the
Mineral Resource calculation, as well as at other features, was completed . Results of Sovereig n’s
drilling programs completed between 2011 and 2013 include:
• RCY07 - 28m @ 1.66 g/t Au from 103m
• RCY36 - 30m @ 3.15 g/t Au from 35m
• RCY37 - 40m @ 4.49 g/t Au from 150m
• RCY88 - 18m @ 1.93 g/t Au from 144m
• RCY89 - 12m @ 2.81 g/t Au from 73m, and 19m @ 2.58 g/t Au from 104m
• RCY114 - 28m @ 6.44 g/t Au from 168m with a top cut of 30 g/t Au
The weathering profile at the Project extends in places to depths in excess of 200m from surface,
producing friable, oxide material which beneath the lateritic profile is very easy to dig.
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About Volcanic
Volcanic brings together a deeply experienced and successful mining, exploration and capital
markets team focused on building a multi -million ounce gold resource in the underexplored West
African country of Guinea and its neighbouring countries. Through the strate gic acquisition of
mineral properties with demonstrated potential for hosting gold resources, and by undertaking
effective exploration and drill programs, Volcanic looks to become a leading junior gold resource
company.
Qualified Person
Mr. Simon Meadows -Smith is a Q ualified Person as defined by “National Instrument 43- 101 -
Standards of Disclosure for Mineral Projects” and has approved the disclosure of the scientific and
technical information contained in this news release. Mr. Meadows -Smith holds a BSc degree in
geology from Nottingham University, England, and has been involved in mineral exploration since
1988, including 20 years of experience working in West Africa. He is a Fellow in good standing of
the Institute of Materials, Minerals & Mining in London.
For further information, contact Jeremy Crozier at 604 -801-5432, or visit our website at
www.volgold.com.
Volcanic Gold Mines Inc.
Jeremy Crozier, President
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 inc lude, without limitation, statements about the Company’s plans for the Mandiana Project .
Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”,
“estimates”, “estimated”, “potential”, “open”, “futu re”, “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 sim ilar 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’s exploration work at the Mandiana Project will be completed as planned ; 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 o f 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
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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’s exploration work at the Mandiana Project will be
completed as planned; 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 Com pany 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.