Volcanic Gold Closes Upsized Private Placement, Raising $1.66 Million

(TheNewswire)

July 17, 2025 – TheNewswire - Vancouver, British Columbia – Volcanic Gold Mines Inc.(TSXV: VG) (“Volcanic” or “the Company”) is pleased to reportthat its previously announced non-brokered private placement financinghas closed, raising gross proceeds of $1,664,200.  The Company hasissued 13,868,332 units at $0.12 per unit.  Each unit consists of onecommon share of the Company and one warrant which entitles the holderto purchase one additional common share at a price of $0.16 for twoyears following the closing.  The warrants have an exerciseacceleration clause such that following the statutory hold period, ifthe closing price of the Company’s shares exceeds $0.25 for any 10consecutive trading days, the Company will have the right toaccelerate the expiry date to 30 calendar days.

The proceeds of the private placement are intended tobe used to fund the resumption of exploration activities on the HollyProperty located in Guatemala, and for general working capital.

The Company has paid finder’s fees for a portion ofthe financing consisting of $23,712 in cash payments and 197,599warrants which have the same terms as the unit warrants. S ecurities issued in the placement are subjectto a resale restriction until November 16, 2025. The private placement is subject to final approval by the TSXVenture Exchange.

About Volcanic

Volcanic brings together an experienced and successfulmining, exploration and capital markets team focused on buildingmulti-million-ounce gold and silver resources in underexploredcountries.  Through the strategic acquisition of mineral propertieswith demonstrated potential for hosting gold and silver resources, andby undertaking effective exploration and drill programs, Volcanicintends to become a leading gold-silver company.

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

Volcanic Gold Mines Inc.

Simon Ridgway, President and CEO

Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.

Forward-looking statements

Certain statements contained in this news releaseconstitute forward-looking statements within the meaning of Canadiansecurities legislation. All statements included herein, other thanstatements of historical fact, are forward- looking statements andinclude, without limitation, statements about the Company’s privateplacement financing, and its plans for its property interests inGuatemala. Often, but not always, these forward-looking statements canbe 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”, orstatements that events, “could” or “should” occur or beachieved and similar expressions, including negativevariations.

Forward-looking statements involve known and unknownrisks, uncertainties and other factors which may cause the actualresults, performance or achievements of the Company to be materiallydifferent from any results, performance or achievements expressed orimplied by forward-looking statements. Such uncertainties and factorsinclude, among others, whether the Company’s plans for its propertyinterests in Guatemala will proceed as intended;the uncertainties inherent in the mineral resource estimates; changesin general economic conditions and financial markets; the Company orany joint venture partner not having the financial ability to meet itsexploration and development goals; risks associated with the resultsof exploration and development activities, estimation of mineralresources and the geology, grade and continuity of mineral deposits;unanticipated costs and expenses; and such other risks detailed fromtime to time in the Company’s quarterly and annual filings withsecurities regulators and available under the Company’s profile onSEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify importantfactors that could cause actual actions, events or results to differmaterially from those described in forward-looking statements, theremay be other factors that cause actions, events or results to differfrom those anticipated, estimated or intended.

Forward-looking statements contained herein are basedon the assumptions, beliefs, expectations and opinions of management,including but not limited to: that the Company’s stated goals andplanned exploration and development activities will be achieved; thatthere will be no material adverse change affecting the Company or itsproperties; and such other assumptions as set out herein.Forward-looking statements are made as of the date hereof and theCompany disclaims any obligation to update any forward-lookingstatements, whether as a result of new information, future events orresults or otherwise, except as required by law. There can be noassurance that forward-looking statements will prove to be accurate,as actual results and future events could differ materially from thoseanticipated in such statements. Accordingly, investors should notplace undue reliance on forward-looking statements.

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