Volcanic provides update regarding its exploration projects and Guinean operations
200 Burrard Street, Suite 650 Tel: 604.801.5432
Vancouver, BC V6C 3L6 Fax: 604.662.8829
TSX-V: VG
NEWS RELEASE
Volcanic provides update regarding its exploration projects and Guinean
operations
November 7, 2018 – Vancouver, British Columbia – Volcanic Gold Mines Inc. (“Volcanic”) (TSXV: VG)
announces that its Guinean operating subsidiary, Guiord SA (“Guiord”), has not been successful in securing
renewed title to its Mandiana Project exploration permits in the Republic of Guinea.
Further to its news release of February 5, 2018, Volcanic has made considerable efforts to renew said title, a
process that has been s ignificantly hampered by irregularities and intransigence on the part of the former
Administrateur Générale of Guiord. As well, the permit renewal process has been hindered by a lack of
administrative clarity and a high degree of uncertainty on the part of the Government of Guinea . In
particular, the Ministry of Mines and Geology has declined to acknowledge the authority of Volcanic’s CEO
as the new Administrateur Générale of Guiord despite his appointment being duly and legally registered with
the Cour d’Appel de Conakry.
With no improvement expected in dealing with the Ministry of Mines and Geology, the Board of Directors of
Volcanic has determined that it is not in the best interests of its shareholders to continue working in Guinea
at thi s time . The Company is investigating its means of legal recourse in this matter, including seeking
compensatory damages from the former Administrateur Générale of Guiord within and beyond the Republic
of Guinea.
Volcanic also announces that it has withdrawn from its previously announced proposed acquisition of
exploration permits located in the Ivory Coast. The results of management’s due diligence exploration work
did not justify continuing with the project.
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 looks to become a leading junior gold resource company.
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 and CEO
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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 li mitation, statements about the Company’s business goals . 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 k nown 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, 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 associat ed 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 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, bel iefs, 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 re sults 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.