Volcanic Gold announces non-brokered financing of $1.5 million to fund restart of drilling at Holly Property, Guatemala

About this update from Volcanic Gold Mines Inc.

[{"type":"text","content":"Volcanic Gold announces non-brokered financing of $1.5 million to fund restart of drilling at Holly Property, Guatemala\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n May 8, 2025 –\n \n\n TheNewswire -\n \n\n Vancouver, British Columbia – Volcanic Gold Mines Inc.\n(TSXV: VG) (“Volcanic” or “the Company”) is pleased to\nannounce that it intends to complete a non-brokered private placement\nfinancing to raise up to $1.5 million to fund the resumption of\nexploration activities on the Holly Property located in Guatemala. The\noffering will consist of up to 12.5 million units at $0.12 per unit.\n Each unit will consist of one common share of the Company and one\nwarrant which will entitle the holder to purchase one additional\ncommon share at a price of $0.16 for 24 months.  The warrants will\nhave an exercise acceleration clause such that following the statutory\nhold period, if the closing price of the Company’s shares exceeds\n$0.25 for any 10 consecutive trading days, the Company will have the\nright to accelerate the expiry date to 30 calendar days.\n \n\n\n\n Spectacular grades were obtained in the previous\ndrilling at Holly where north-west trending epithermal veins cut the\nregional-scale east-west trending Jocotán structure. Drilling has\ndefined a mineral resource of 410,000 ounces gold equivalent at a\ngrade of 9.6 Au equivalent grams per tonne (see Technical Information\nbelow). The resource is open to potential expansion.\n \n\n\n\n Drill permits are in place and the Company now has the\nsocial licence to operate. Future drilling will aim to extend and\ndefine the depth and strike extent of mineralization and tighten drill\nspacing to upgrade the confidence level of the current mineral\nresource.\n \n\n\n Figure 1:\n \n Vertical long section along the Pena vein\nlooking 040\n \n\n °\n \n\n northeast\n \n\n showing drill intercepts and interpreted\ngeology. The deeper level area between and along strike of high-grade\nintercepts in\n \n\n drillholes HDD-21-027 (labelled\n27) and HDD-21-023 (labelled 23) is targeted for infill and extension\ndrilling.\n \n\n\n\n\n\n\n\n Click Image To View Full Size\n \n\n\n\n Technical Information\n \n\n\n\n Luc English PhD, who is a Chartered Geolog...

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