New Risk • Apr 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.3m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$6.24m market cap, or US$4.57m). New Risk • Feb 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$7.72m market cap, or US$5.64m). New Risk • Nov 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 30% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$6.54m market cap, or US$4.68m). Anuncio • Oct 16
Volcanic Gold Mines Inc., Annual General Meeting, Dec 17, 2025 Volcanic Gold Mines Inc., Annual General Meeting, Dec 17, 2025. New Risk • Jul 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 30% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 6.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$10.7m market cap, or US$7.85m). Anuncio • Jul 18
Volcanic Gold Mines Inc. announced that it has received CAD 1.6642 million in funding On July 17, 2025. Volcanic Gold Mines Inc. announces that it has closed the transaction. It has issued 13,868,332 units at a price of CAD 0.12 per unit for gross proceeds of CAD 1,664,199.84. The Company has paid finder’s fees for a portion of the financing consisting of CAD 23,712 in cash payments and 197,599 warrants which have the same terms as the unit warrants. Board Change • Jun 03
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Derek Liu was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Anuncio • May 09
Volcanic Gold Mines Inc. announced that it expects to receive CAD 1.5 million in funding Volcanic Gold Mines Inc. announced a non-brokered private placement that it will issue up to 12,500,000 units of the company at an issue price of CAD 0.12 per unit for the gross proceeds of up to CAD 1,500,000 on May 8, 2025. Each unit will consist of one common share of the Company and one warrant which will entitle the holder to purchase one additional common share at a price of CAD 0.16 for 24 months. The warrants will have an exercise acceleration clause such that following the statutory hold period, if the closing price of the Company’s shares exceeds CAD 0.25 for any 10 consecutive trading days, the Company will have the right to accelerate the expiry date to 30 calendar days. Anuncio • Sep 11
Volcanic Gold Mines Inc., Annual General Meeting, Nov 27, 2024 Volcanic Gold Mines Inc., Annual General Meeting, Nov 27, 2024. Anuncio • Aug 22
Radius Gold Inc. and Volcanic Gold Mines Inc. Provides Update on Guatemala Properties Radius Gold Inc. and joint venture partner, Volcanic Gold Mines Inc. reported that Volcanic has fulfilled the modified Option Agreement and earned a 60% interest in Radius's Holly and Motagua Norte Properties in Guatemala by spending USD 7 million in exploration expenditures. During the period July 2021 to July 2022 Volcanic invested over USD 4.5 in exploration on the Holly Project, the majority of that was spent on drilling, and the joint venture established a high-grade epithermal gold-silver inferred mineral resource of 410,000oz at 9.6 g/t AuEq1. The resource was established on the La Pena vein, is open in all directions and is just one of many epithermal veins on the Holly property. Typical results of the drilling were exceptional high grade intercepts, such as 4.57m @ 54.24 g/t Au and 3925 g/t Ag in hole HDD-21-027 and 6.52m @ 11.72 g/t Au and 340 g/t Ag in hole SSD-21-019. However, as has been previously stated, the joint venture has put exploration of the property on hold until there is advancement at the two significant precious metal deposits in Guatemala where developments are pending: the multi-million ounce gold deposit at Cerro Blanco and the large high grade silver-lead-zinc deposit at Escobal. Radius has also been working to expand its portfolio of exploration properties. The Company is currently at the due-diligence stage to option a road accessible, exploration-stage copper porphyry property in Peru, located in a belt that is host to a number of operating copper mines and development stage projects. New Risk • Jun 04
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$2.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.6m free cash flow). Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 14% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$2.96m market cap, or US$2.16m). Anuncio • Apr 04
Radius Gold Inc. and Volcanic Gold Mines Inc. Provide Further Update on Drilling At Motagua Norte Property, Guatemala Radius Gold Inc. and joint venture partner, Volcanic Gold Mines Inc. present a further update on the ongoing drilling campaign at the Motagua Norte Project. As previously reported, drilling to date has confirmed that the broad area of boulder float with abundant bonanza grade assay results discovered by Volcanic geologists is underlain by a serpentinite package, and that all of the colluvial boulders of quartz and schists bearing the high- grade gold values have likely moved downslope from a major structural corridor that has been named the Veta Madre Fault Zone. To date two drill holes cutting across the broad Veta Madre Fault zone have been completed. Both holes have cut wide zones of quartz veining and quartz stockwork at the fault contact between serpentinite in the hanging wall to the north, and schistose rock in the footwall to the south. The wide stockwork zones with associated intense silica-sericite alteration of the host rock appear to be best developed in the footwall schist, although stockwork veining has been recognized on both sides of the vein. Hole MIDD-24-004 targeted the Veta Madre above the central part of the colluvial field, drilling through 98 m of serpentinite before reaching the fault zone at a depth of approximately 120 m below surface. The hole remained in veining and stockwork schists for 63 m before entering unaltered schistose rocks at 161 m. The hole was drilled at an inclination of -45 degrees; true width of the mineralized zone is yet to be confirmed as the dip of the fault, while thought to be steep, is as yet unknown. Hole MIDD-24-005 was drilled 100 m along strike to the west of MIDD-24-004, collared closer to the fault zone so that it intersected the fault at a slightly shallower depth of approximately 80 m below surface. This hole passed through 73 m of serpentinite before entering the targeted structure. A wide zone, some 39 m of altered rock with strong stockwork quartz veining, was intersected before passing into unaltered schistose rock at 112 m drill depth. This hole was also drilled at an inclination of -45 degrees, and again, true width of the zone is at present unknown. Half-core samples from both drill holes have been sent for analysis at ALS Laboratory, Vancouver and assay results are expected in early May. The present plan is to test the Veta Madre Fault Zone with a panel of holes, cutting the structure on 50 m horizontal and vertical grid spacing to a depth of up to 200 m below surface. Drilling will initially concentrate on a 250 m strike length immediately uphill of the thickest and most extensive concentration of gold-bearing colluvium. Drilling through the boulder colluvium is technically challenging. Two attempts to drill into the structure at a shallower depth to test the weathered zone have been abandoned due to the rods getting stuck in the thicker colluvium pile adjacent to the fault zone (drillholes MIDD-006 and 007). In order to avoid these problems, the remainder of this drilling program will be restricted to fresh rock well below the colluvium, targeting mineralization 50 m or more below surface. Anuncio • Oct 12
Volcanic Gold Mines Inc. Reports Bonanza Grade Gold Discovered Across Wide Areas At Mila Target, Guatemala Volcanic Gold Mines Inc. provided an exploration update on the high-grade Mila prospect in the Motagua Norte project in Guatemala. Highlights of the gold discoveries at the Mila prospect: Concentration of bonanza-grade and visible gold in quartz veins over a 250 x 570 m area. Continuous line rock chip sampling across mixed outcrop, subcrop, boulder fields of 34 m averaging 42 g/t gold and 24 m averaging 54 g/t gold. High-grade gold in both quartz veins and stockwork quartz in the wallrock suggests wide zones of gold mineralization. Visible gold in quartz veins identified in new areas to the south and west of Mila. Orogenic gold-silver deposit with significant depth potential. Trenching and drilling planned to establish the geometry, width and grade of the gold mineralization. The Company's initial prospecting samples returned exceptional gold grades at Mila prospect. In order to determine whether the very high gold grades (many samples above 1 oz gold /tonne) were the result of selective sampling or widespread across the target zones, a program of continuous 2 m chip sampling was conducted across mixed terrain of outcrop, subcrop and float boulders. In these areas it is not possible to be sure of true widths, and sampling was conducted to define the distribution of gold mineralization and target trench and drill priorities. High-grade gold assays and visible gold occur in both quartz veins, and in wallrock quartz stockwork zones. Multiple quartz veins with at least two different orientations are recognized; north-south and northwest- southeast striking. The principal mineralized quartz veins form prominent mounds and ridges of collapsed outcrop boulder piles with quartz boulders up to 2 m in diameter and outcrops up to 4 m or more in width. Continuous chip channel sampling across one prominent ridge has returned average grades of up to 95 g/t gold across a 10 m width of collapsed quartz vein boulders, each sample representing a 2 m long segment of the line. Significantly wider quartz boulder fields occur where multiple, close-spaced veins reach surface. Continuous lines of 2 m long chip channel samples of mixed outcrop and colluvium have returned average grades of 42 g/t gold along a 34 m line, and 54 g/t gold over a 24 m line from two parallel lines 70 m apart in one boulder field at the centre of the prospect area. The distribution of mineralized boulder float, supported by limited outcrop data, suggests that the high- grade gold mineralization in the Mila prospect is concentrated in two north-south structures approximately 200 m apart, each structure at least 250 m strike in length. The current interpretation is that one or both structures support multiple quartz veins across a width of at least 25 to 50 m. Trenching and drilling will be required to look beneath the quartz boulder cover and establish the true geometry, width and grade of the mineralized veins and wallrock stockwork zones in the Mila prospect. Additional gold vein discoveries Beyond the Mila prospect ongoing prospecting and rock chip sampling continues to identify additional mineralized veins within the licence area: 1. Two gold quartz veins have already been identified approximately 500 m to the south of the Mila prospect with two high-grade rock chip samples of 9.34 g/t and 29.6 g/t gold some 280 m apart. 2. Quartz veins grading up to 60.2 g/t gold have also been identified at a couple of locations further along the regional Motagua Norte trend between 800 and 1700 m to the west of the Mila prospect. Gold mineralization and geology The mineralized quartz veins and stockwork zones are hosted by biotite schist and phyllite of the Motagua Suture Zone, an east-west striking belt of metamorphic rocks that formed at the line of collision between the North American and Caribbean tectonic plates. Gold mineralization appears to be hosted by north- south and east to southeast-striking veins. High-grade assays have been returned from both sulphide-bearing quartz veins and quartz stockwork in the wallrock. The mineralized quartz veins are enriched in gold, silver, lead and minor copper and have textures and a geological host consistent with emplacement from a mesothermal system in an orogenic setting. The mineralization appears to be zoned with quartz veins at the eastern end of the licence area at Mila and to the south of Mila containing the highest gold values, and veins to the west of Mila with generally lower gold but higher silver and lead values. Anuncio • Oct 05
Volcanic Gold Mines Inc., Annual General Meeting, Dec 14, 2023 Volcanic Gold Mines Inc., Annual General Meeting, Dec 14, 2023. Anuncio • Jul 12
Volcanic Gold Mines Inc. Provides Update on its Cerro Blanco Feasibility Stage Gold and Silver Project in Guatemala Volcanic Gold Mines Inc. outlined plans for its Cerro Blanco feasibility stage gold and silver project in Guatemala in a news release entitled "Bluestone Announces Strategic Review Process". The Cerro Blanco's initial 2019 feasibility study, that proposed mining the deposit as an underground mine, provided impressive economics that included an after-tax IRR of 34% and AISC of USD579/oz using a base case of USD 1250/oz gold and USD 18/oz silver. Volcanic Gold's Holly discovery is located on private land about 60 km north of Cerro Blanco along a paved highway. It has a maiden inferred mineral resource on La Pena vein, (one of many veins) of 1.3 Mt at 6.5 g/t for 270,000 oz contained gold and 11 Moz at 260 g/t contained silver, which equates to 9.6 g/t at 410,000 oz gold equivalent. As has been stated in a previous news release6, Volcanic Gold is committed to engaging with local stakeholders and actively working with communities to further develop and deliver impactful community programs. In a mining scenario, the Holly project would be mined as an underground operation with processing of the ore remote from the location of the project. More drilling is required to determine the full extent of the underground mineral resource: the deepest hole drilled yet on the La Pena Vein cut 4.58m of 79.84 g/t Au and 5,053 g/t Ag7. However, the Company has stated it would not drill at Holly again until Cerro Blanco had a clear way to production, and that remains the Company's position. Volcanic holds the property at Holly under a joint venture agreement with Radius Gold Inc. The Company also holds other properties in Guatemala under that same J/V agreement, and other important discoveries have been made on that J/V property that are pending the granting of a mineral concession. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Independent Director Derek Liu was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Anuncio • Feb 09
Volcanic Gold Commissions Technical Report on Holly Project as Part of Permit Upgrade and Continues with Stakeholder Engagement Volcanic Gold Mines Inc. announced it has continued to advance mining studies on the flagship Holly Project in preparation to upgrade the exploration license to an exploitation license. The Holly project has an inferred Mineral Resource of 1.3 Mt at 6.5 g/t for 270,000 oz contained gold and 260 g/t silver for 11 Moz contained silver, which equates to 9.6 g/t at 410,000 oz gold equivalent. The mineral resource is supported by excellent infrastructure with a paved road passing through the project area and is located less than 70 km from Bluestone Resources' Cerro Blanco gold mine development project. Resource drilling and sub-surface exploration is at an early stage: the mineralization remains open along strike and at depth, and there are several additional mineralized veins identified at surface that have not yet been drill tested. The Company considers that the demonstrated high-grade and good access to a nearby mine development project means that the Holly Project has a good chance of being developed. Further drilling will determine whether Holly will support a stand-alone mill, or if the ore should be processed elsewhere. Based on this positive outlook the Company is applying to upgrade the Holly exploration license to an exploitation license. Technical studies to support the application are underway. Volcanic is continuing to monitor and build environmental, hydrogeological, and social baseline studies for the Holly property. Guatemalan and Mexican-based engineering companies have been commissioned to compile the technical studies and civil engineering design for an underground mining project, with assumed processing off-site. This study is expected to be completed in the first Quarter. The mine design will be an early-stage concept for permitting purposes and will not meet the requirements of a preliminary economic assessment. As stated in previous news releases the Company intends to resume drilling at the Holly property once Bluestone has been granted a permit to build a mine at Cerro Blanco. Bluestone has issued an update on Cerro Blanco Successful permitting of the Cerro Blanco Project will demonstrate that the Authorities and communities are ready to develop Guatemala's considerable precious metal resource potential and provide the confidence required for Volcanic to resume exploration and resource definition at Holly. Anuncio • Sep 30
Volcanic Gold Mines Inc., Annual General Meeting, Dec 14, 2022 Volcanic Gold Mines Inc., Annual General Meeting, Dec 14, 2022. Anuncio • Sep 29
Volcanic Gold Mines Inc. Provides Update on Developments in Guatemala Volcanic Gold Mines Inc. provided an update on events in Guatemala. The Company recently filed an NI 43-101 technical report supporting an initial Inferred Mineral Resource of 406,316 oz Au Eq estimated from the first target, La Peña vein at Holly. The high grade La Peña vein remains open to expansion along strike and at depth and several other drill targets remain to be tested at Holly with potential for new discoveries. Reporting the resource estimate for the discovery at the Holly property was important to show the community in Guatemala that the company is developing a viable resource that will lead to a positive economic influence on the area and offer well paying, much needed employment for members of the community. As Volcanic previously stated, the Company intends to resume drilling at its Holly property once Bluestone has been granted a permit to build a mine at Cerro Blanco. Bluestone has issued an update on Cerro Blanco. Bluestone has made significant progress in advancing the Cerro Blanco Project and as a result has drawn attention from certain anti-mining groups known in the region for spreading misinformation. According to Volcanic's research, the lead anti-mining organization brought together opposition groups from El Salvador and other parts of Guatemala to unfairly portray public opinion on future mining activities within the municipal limits of Asuncion Mitta where the Cerro Blanco deposit is located. This week, however, according to local news reports (Prensa Libre/26 September) the constitutional court of Guatemala has annulled the illegitimate community consultation carried out by the anti-development groups, thereby establishing legal certainty that only the Guatemala mining ministry is competent to perform such consultations. Over 25% of people in Guatemalan communities earn less than $1.00 per day, hence many risk their lives to travel north to try and enter the United States to find reasonable wages to support their families. And yet international organizations voice their objections to any development of the country's natural resources without providing any solutions to improve the livelihoods of Guatemalans. Progress in Guatemala: Volcanic continues to work closely with the local communities toward creating employment opportunities and educational outreach. The community's primary areas of interest are employment and positive projects. The Company is diligently working with the various community participants and is encouraged by steps taken by the Community Councils for Urban and Rural Development (COCODE) of Guatemala to look for further discussion. The COCODE is configured as the coordinating entity for participation at the community level and is made up of residents of the corresponding communities. Volcanic is currently advancing various studies and reports for the Holly property, including a hydrogeological study, an environmental monitoring report, and a mine design and facility report. Anuncio • Jun 11
Volcanic Gold Mines Inc. Announces Initial Resource Estimate of 406,316 oz at 9.57 g/t Gold Equivalent at Holly Volcanic Gold Mines Inc. announced a maiden Inferred Mineral Resource Estimate for the Holly property, Guatemala. The mineral resource estimate is reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards (2014) incorporated by reference in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Mineral Resource Estimate is underpinned by data from 21 diamond drillholes totalling 3707m of drilling. Drill spacing ranges between 20 and 100m. All sample data was composited to a 2D dataset (linear grade and true thickness values) prior to analysis and estimation. The sample da ase and the topographic survey were reviewed and validated by Bruce Smith, Ludving Monroy and Shawn Rastad prior to being supplied to John Arthur, an independent UK based Resource Consultant. Such review and validation help to support the reliability of the estimate. Geological domain modelling was completed by Bruce Smith and Dr. John Arthur. Mineral Resource domain modelling, grade interpolation, Mineral Resource classification and reporting of the Mineral Resource statement, was performed by Dr. John Arthur. Dr. Arthur, Mr. Smith, Mr. Monroy and Mr. Rastad are "qualified persons" within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Block modelling was carried out using cell dimensions of 32mE by 32mN by 8 mRL and was coded to reflect the surface topography and mineralised zones. Density values were globally assigned into two zones, an upper zone between 50 to 100m from surface had an average density of 2.33t/m³ and below this an average density of 2.52t/m³ was applied. The Mineral Resource Estimate has been classified based on data density, data quality, confidence in the geological interpretation and confidence in the robustness of the grade interpolation. The Company will follow this resource calculation with the preparation of a preliminary economic analysis aimed to show that the high-grade La Peña vein deposit could be mined from underground, causing minimal surface disruption. It is anticipated that trucking of high-grade ore to a nearby mill could minimize on-site processing and other associated costs and impacts. The Company's strategy is to calculate an approximate value of the deposit and potential income and be able to offer concrete benefits and much needed long term employment opportunities to the local communities. The Company expects the Holly project can grow significantly through exploration, but at this time it is important to clearly define the opportunity and potential value of the project to all stakeholders. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Bob Schafer was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Apr 03
Volcanic Gold Mines Inc. Updates on Progress at Holly Property Volcanic Gold Mines Inc. reported progress made at Holly Property. The gold and silver discovery made at Holly is significant. It is a high-grade vein deposit that could be mined from underground, causing very little surface disruption. It will not require a processing plant as in the near future there will likely be two mills in operation within trucking distance. The process of concluding an inferred resource calculation and from that company will generate an approximate value of the deposit that has been discovered to date. Further, the deposit is open in all directions. Company will continue to move forward at pace that will protect the investment made and the value created. Anuncio • Feb 17
Volcanic Gold Mines Inc. Reports Another Exceptional Intercept at Depth on the Holly Property, Guatemala Volcanic Gold Mines Inc. reported another exceptional intercept at depth on the Holly Property, Guatemala. Hole HDD-21-027 intersected 4.57 meters (or approx. 4.1m true width) returning over 54 g/t gold and over 3.9 Kg/t silver. This hole cut the vein at the same depth in the system as hole HDD-21-23 that intercepted 4.58m of 79.84 g/t gold and 5,053 g/t silver 150m to the south. Drilling is ongoing again at Holly, focused on extending this high-grade system at depth and along strike to the south with a goal of establishing a meaningful high-grade resource and improving confidence in the trend of the vein structure. Several other veins in the area with similar orientation will be tested during this present program. Hole HDD-21-028 failed to intersect the La Pena structure but management believes it was not drilled to sufficient depth. The hole will be re-entered within the present program to test this theory. Results are still pending for hole HDD-21-026 as the shipment of core and rock samples that contained this hole was caught up in delays discussed in previous news releases. Management is optimistic future turn around on drill core will be within 45 days. A preparation lab is being set up in the region for surface rock and soil samples. Anuncio • Feb 04
Volcanic Gold Reports Results and Commencement of Drilling At Holly Property Volcanic Gold Mines Inc. reported results received from two holes drilled in October 2021 at the Holly property, Guatemala. Drillholes HDD-21-024 and 025 were drilled on the potential northern extension of the La Peña vein system, hosted in Paleozoic schistose rocks on the north side of the Jocotan fault zone. A trail of quartz vein boulders, thought to be a combination of float and sub-crop, extended north downslope for over 500m. These two holes were drilled scissor under this boulder trail to confirm the northern extension of the La Peña vein system. While apparent structural zones hosting weak mineralization were intersected in both holes, with results up to 1.53m of 207 g/t Ag in hole 024, no significant gold mineralization was returned from these holes. With the continued drilling of the La Peña vein, Volcanic geologists have better defined the structure. The vein's strike and dip in relation to the topography would indicate the vein passes east of the quartz float trail and drill holes HDD-21-024 and 025, and therefore, remains open and untested to the north in the Paleozoic schistose rocks. However, apart from hole HDD-21-015 that cut 15.55m @ 7.67 g/t Au and 615 g/t Ag in the schistose rocks, no other holes have returned strong mineralization in this rock unit. Results from holes HDD-21-026 to -029 are still pending. Like many companies in the sector, the company are suffering from significant laboratory turn-around times. To mitigate this, the company have shipped equipment into Guatemala in order to crush own drill core and surface rock samples. This allows to ship directly to the assay laboratory eliminating the long waits at the preparatory lab. Drilling will commence within the first week of February. The focus will be extending the La Peña vein system to the south in the younger volcanics and sediments where hole HDD-21-023 cut 4.58m @ 79.84 g/t Au and 5,053 g/t Ag, 200m south of Hole HDD-21-015 reported above. The company will also target mineralization down dip along the 200m strike so far established. Drill holes are also planned at the El Pino vein where previous drilling intersected significant results up to 4.23m @ 4.0 g/t Au, 136 g/t Ag from veins and veinlets at much higher elevations. Drilling is also planned at the undertested large Ipala structure where anomalous gold/silver has been defined in soil and rock samples over several hundred meters. Regional work continues to identify new target areas, especially along the Motagua Norte structural zone where prospects continue to demonstrate visible coarse gold in stream sediments and in rock crushed in the field and panned. The delays in laboratory turn around time have allowed to return to this basic method that generated the gold rushes of old. Results of this work are indicating that this is an important target area that the company have mapped over several kilometers. The contact of serpentinite bodies with metamorphosed volcanic rocks appears to localize the quartz bearing fluids that are associated with free gold yielding values up to 320 g/t Au. The Company is working with environmental consultants to complete the studies needed to have these concessions granted with First Quarter 2022. Anuncio • Dec 02
Volcanic Gold Mines Inc. Reports on Drill Results Delay Volcanic Gold Mines Inc. announced that it is awaiting assay results from its five most recently drilled holes at the Holly project in Guatemala. The assay company is currently experiencing delays in their processing turnaround and therefore the results from Volcanic's drill samples have not yet been received. The company is monitoring the situation and look forward to receiving the results in the near future. Board Change • Oct 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Bob Schafer was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Sep 10
Volcanic Gold Drills 6.52m @ 16.31 g/t Au at Holly Volcanic Gold Mines Inc. to report further high grade drill results from step out drilling from La Peña vein at the Holly Project in Guatemala. Highlights: HDD-21-017 from 134.25 to 139.00 returns 8.83m @ 8.81 g/t Au and 355 g/t Ag; HDD-21-019 from 171.90 to 178.42 returns 6.52m @ 16.31 g/t Au and 55 g/t Ag; HDD-21-020 from 61.70 to 67.10 returns 5.40m @ 5.91 g/t Au and 70 g/t Ag. Results from the Holly project drilling have been received for holes up to HDD-21-020 and consistently, the deeper holes return better results, with mineralization open to the south/north and down dip. Anuncio • Aug 25
Volcanic Gold Mines Inc. Reports Further High Grade Drill Results from La Peña Vein at the Holly Project in Guatemala Volcanic Gold Mines Inc. reported further high grade drill results from La Peña vein at the Holly Project in Guatemala. Hole HDD21-014, the next hole to target La Peña structure, cut the vein zone approximately 50m below surface, 70m higher that hole 004. The hole cut broad silver intercept of 28.3m at 42 g/t Ag with strongly anomalous mercury and antimony with two narrow gold intervals including 2.53m at 2.90 g/t Au and 108g/t Ag, and 2.1m at 3.60 g/t Au and 92 g/t Ag. The interpretation is that this hole cut La Peña structure above the main ore shoot. Hole HDD21-015 targeted La Peña structure at an elevation of 875m, 50m down dip from 014 and 40m north of hole HDD21-004, within the Paleozoic phyllites. Hole HDD21-015 returned 15.55m at 7.67 g/t Au and 615 g/t Ag, including 7.25m at 16.20 g/t Au and 848 g/t Ag. As with the results in previous holes, gold /silver ratios from 1 to 50 to 1 to 1,000 indicate multiple mineralizing events. Results to date indicate the La Peña system is improving at depth with wider intervals and better grades than compared with the near surface intercepts. Holes HDD21-016 to HDD21-025 have tested the La Peña structure over a strike length of over 300m and to depths of 200m, and the system remains open in all directions. Results from these holes are expected in the next two weeks. Steep terrain at Holly Ridge requires a large local work force to manage portable rig moves on the steep slopes. With the first rains of the planting season, the local workers requested and the Company agreed that they will take time to sow their crops. As well, the drill rig will undergo needed maintenance. The break will allow management time to receive results for the ten holes pending and to plan targeting the deeper more complex intersections of the Jocotan Fault breccia and the La Peña vein system. Drill holes HDD21-005 through HDD21 -013 tested El Pino and the Alpha structures. Narrow intercepts of medium and anomalous grade gold/silver were intersected. These holes tested historic surface anomalies. Drilling at El Pino cut the vein zone significantly higher than intercepts at La Peña and that may account for the narrow results. At the Alpha zone, the system was not targeted within the 200m wide Jocotan fault breccia, which drilling at La Peña indicates may be a key control on the mineralizing system. Drilling will re-commence once results of holes HDD21-016 to HDD21-025 have been received and the planting season is complete, likely mid-September. Anuncio • May 27
Volcanic Gold Mines Inc. Reports Drilling Results At the Holly Property in Eastern Guatemala Is Progressing Well Volcanic Gold Mines Inc. report that the drilling at the Holly property in eastern Guatemala is progressing well. Having completed four holes at the La Pena vein zone, the rig has now been moved 600m east along the trace of the Jocotan Fault Zone (JFZ) to test the El Pino vein zone.
The plan for initial drilling at La Pena and El Pino targets is to test the down dip potential of the vein zones, following up on the initial drilling that was conducted there in 2002/3. The first hole in 2002 at La Pena (HDD-01) intersected a broad 14.2m intersect of 4.5 g/t Au and 151g/t Ag. The follow-up hole HDD-07 drilled to cut the vein zone 25m below returned a lower grade 3m @ 3.1 g/t Au and 61 g/t Ag. No further drilling has been conducted at the Holly property since 2003. It is management’s belief that the 2002/3 drilling was very limited, high in the epithermal system, and did not test the system for structural intersections with the regional scale Jocotan fault. Volcanic’s well funded, systematic drill program targeting the down dip potential of these shoots will lead to a better understanding of the controls on the gold mineralization within the Holly property. The Company is currently moving forward with logistics planning to mobilize a second drill to Guatemala to commence drilling in early June on the Banderas property, where we believe that as with Holly, historic drilling was too shallow and did not test the extensive structural zones identified. Anuncio • Apr 29
Volcanic Gold Mines Inc. Commences Diamond Drilling At the High-Grade Gold Silver Holly Project Located in Guatemala Volcanic Gold Mines Inc. announced that diamond drilling has commenced at the high-grade gold silver Holly Project located in Guatemala. Volcanic plans a minimum 3000m diamond core drilling and the current drill program will be fully funded by Volcanic pursuant to its option to earn an interest in the Holly and Banderas projects in Guatemala. The initial drill targets at Holly will focus on the intersection of the EW trending Jocotan fault zone with
the NW trending La Pena and Pino vein systems. The Holly property is transected by the regional-scale Jocotan fault which forms part of the plate boundarybetween North American and Caribbean tectonic plates. At Holly, the Jocotan fault forms a well-defined east-west trending ridge up to 200m wide consisting of variable to intensely altered, silicified and mineralized breccias and fault related conglomerates. The Jocotan fault is associated with a 1.5km long trend of strong gold in soil and rock chip geochemistry that has not yet been drill tested. Historic exploration at Holly focused on the La Pena and Pino veins that cross-cut the Jocotan fault and has some spectacular high grade gold and silver intersects in limited trenching and shallow drilling. Volcanic can earn a 60% interest in the Holly and the Banderas projects of Radius Gold Inc. by spending the cumulative amount of USD 7.0 million on exploration of the properties within 48 months from the date of the agreement. An initial USD 1M must be spent on exploration within the 12 months of receiving the required drill permits, which expenditure will include a minimum 3,000m of drilling on the properties. 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 also has an exclusive right to evaluate all other property interests of Radius in Guatemala with a right to acquire an interest in any or all other such properties on mutually acceptable terms. Recent Insider Transactions • Mar 27
Founder recently bought CA$120k worth of stock On the 19th of March, Simon T. Ridgway bought around 300k shares on-market at roughly CA$0.40 per share. This was the largest purchase by an insider in the last 3 months. Simon T. has been a buyer over the last 12 months, purchasing a net total of CA$232k worth in shares. Anuncio • Mar 03
Volcanic Gold Mines Inc. Announces Results from its Continuing Exploration Program Being Conducted on the Banderas Project in Eastern Guatemala Volcanic Gold Mines Inc. announced results from its continuing exploration program being conducted on the Banderas Project in Eastern Guatemala. Pyramid Hill vein systems extended for over 1,800 meters along strike. Mapping and sampling defined a NW/SE broad zone of stockwork and brecciation hosting multiple quartz veins of up to 3m width with both shallow and vertical dips. Rock chip and sub crop sampling returned grades up to 6.2 grams per tonne ("g/t") Au and 273 g/t Ag. Zapote mineralization identified 1,500m along strike to the southeast beyond extensive cover, returning up to 2.7 g/t Au and 14.7 g/t Ag from surface vein outcrop sampling. Zapote zone now mapped along a 3,100m strike length. The Pyramid Hill zone consists of two northwest trending sub-parallel vein zones located approximately 500m apart, called the Pyramid Hill (“PH”) and the “M28” zones. Each zone hosts several 1- to 5-meter-wide quartz veins. At the PH zone, the veins dip steeply to the northeast and are surrounded by a prominent alteration zone with an approximate 20m wide zone of stockwork veining and brecciation, and at M28, the veins dip shallowly to the west. The Zapote Zone is located 1,500m to the west of the Pyramid Hill zone on the opposite side of a large Dacitic Dome that creates a broad barren area. The mineralized zone at Zapote lies at the contact of the Dacite flow rocks and the intruded Andesite/Rhyolite host rocks. Historic rock chip sampling over an area 150m wide along 800m of this contact has returned strongly anomalous gold/silver mineralization. At the southeast end the zone disappears under an extensive area of large Dacite boulders. This target has never been drill tested. Recent sampling has picked up the trend 850m to the southeast, directly on strike with the original Zapote trend. A group of 38 samples were collected from the Zapote South vein system extending it 1.5km to the southeast, returning values up to 2.7 g/t Au and 14.7 g/t Ag. Is New 90 Day High Low • Jan 23
New 90-day high: CA$0.60 The company is up 20% from its price of CA$0.50 on 23 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 2.0% over the same period. Is New 90 Day High Low • Nov 25
New 90-day low: CA$0.41 The company is down 39% from its price of CA$0.67 on 26 August 2020. The Canadian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 9.0% over the same period. Is New 90 Day High Low • Oct 17
New 90-day low: CA$0.54 The company is down 23% from its price of CA$0.70 on 17 July 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 4.0% over the same period. Is New 90 Day High Low • Oct 01
New 90-day low: CA$0.55 The company is down 8.0% from its price of CA$0.60 on 03 July 2020. The Canadian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 9.0% over the same period. Anuncio • Jul 31
Volcanic Gold Mines Inc. announced that it has received CAD 5 million in funding from Silvercorp Metals Inc. On July 28, 2020, Volcanic Gold Mines Inc. (TSXV:VG) closed the transaction. The company paid finder’s fees totaling CAD 311,833 in cash and issued a total of 1,497,330 finder's warrants with the same terms as the warrants to Roth Capital Partners, as to CAD 228,498 in cash and 1,163,990 in finder’s warrants, Haywood Securities as to CAD 49,000 in cash and 196,000 finder’s warrants, Gerhard Merkel as to CAD 27,685 in cash and 110,740 in finder’s warrants, and Canaccord Genuity as to CAD 6,650 in cash and 26,600 in finder’s warrants. All securities issued in the transaction are subject to a resale restriction in Canada until November 28, 2020. 