Drilling at the Holly Property delayed

About this update from Volcanic Gold Mines Inc.

Drilling at the Holly Property delayed (TheNewswire) September 30, 2025 – TheNewswire - Vancouver, British Columbia – Volcanic Gold Mines Inc. (TSXV: VG) (“Volcanic” or “the Company”) regrets to report that during the recent visit of the Company’s President to the Holly Project in Guatemala, it was noted that there is still some resistance to mining activities in the area adjacent to the project. For this reason, we consider it prudent to postpone the start of drilling until more favorable conditions are achieved. We are currently in discussions with local authorities and the community to reach an understanding and create a more suitable environment. The Company is fully permitted to drill, and has agreements with all landowners where the drilling would take place, but it is the President’s opinion that conflict is likely to take place if drilling re-starts at this time. Spectacular grades were obtained in the previous drilling at Holly where north-west trending epithermal veins cut the regional-scale east-west trending Jocotán structure. The last drilling campaign in 2021-22 defined an inferred mineral resource of 1.32 million tonnes at 6.46 g/t Au and 256 g/t Ag (1) at Holly. Further drilling has been planned to extend the depth and strike extent of mineralization and tighten drill spacing to upgrade the confidence level of the mineral resource. Volcanic’s President and CEO, Simon Ridgway stated: “ The Company has worked tirelessly over the last two years with the local people promoting the benefits that resource development can bring, and i t is unfortunate that we are prevented from advancing this project at this time. Our earlier decision to re-start drilling was based on my previous meeting with the Mayor and on information from other trusted sources. However, when we started preparations to work, some groups within the local and municipal councils expressed opposition. It is important that we work through their concerns to obtain majority support and unilateral acceptance before proceeding with the planned drilling. As the safety of local residents and our personnel is of the utmost importance, we cannot with good conscience re-start work at this time. We will continue our discussions with the local community and also await developments at the nearby Cerro Blanco g...

View stock analysis, news, and events for Volcanic Gold Mines Inc.