Volcanic Gold Mines secures First Right of Refusal on Guatemalan Antimony Mine and advances mine owner's drilling

(TheNewswire)

August 24, 2026 TheNewswire - Vancouver, British Columbia Volcanic Gold Mines Inc. (TSXV: VG,OTC:VLMZF) ("Volcanic" or the "Company") is pleased to announce it has secured a Right of First Offer and Right of First Refusal to acquire an interest in the fully permitted Los Angeles antimony mine in Palencia, Guatemala, from private operator, Compania Minerales de Guatemala, S.A. ("MINEGUA").

Volcanic is providing geological and sampling support to MINEGUA for a 1,000 m exploratory drill program aimed at expanding the existing small-scale open-pit operation.

Strong, independently verified sampling results

Volcanic's geologists carried out a systematic channel sampling program of the flat-lying to gently dipping antimony horizon exposed along the 200 m long open-pit face. Sixty-one saw-channel samples were collected from thirteen vertical channels at 10–15 metres spacing along the open pit face. Each channel ranged from 1.5 to 3 m in length, with individual samples cut at a consistent 0.5 m interval to ensure accuracy and representativeness.

The results confirm genuine, high-grade antimony mineralization:

• Oxide zone (Planchon): 6 channels averaged 1.6 m at 6.1% Sb and 17.5 g/t Ag 

• Sulphide zone (Manzanal): 7 channels averaged 1.6 m at 4.1% Sb and 16.8 g/t Ag 

• Overall weighted average along entire 200 m face: 1.6 m at 5.0% Sb and 17.1 g/t Ag 

Individual channels returned grades as high as 17.8% Sb with 68.7 g/t Ag and 10.8% Sb with 85.2 g/t Ag.

Drilling progress

Eleven diamond drill holes totalling 1,041 m have been completed. Five holes successfully intercepted antimony mineralization, including a new deeper zone extending 300 m along strike of the current pit that remains open in multiple directions. Assay results are pending.

The Property

The Los Angeles property covers a 12 km² exploitation licence (plus a pending 9.5 km² extension) located approximately 40 km east of Guatemala City. Current open-pit mining has reached its practical limit with existing equipment, creating a clear opportunity for expansion through additional investment in exploration, mining, and processing.

Volcanic looks forward to receiving the pending drill assay results and evaluating the potential to significantly grow this high-grade antimony project.

Qualified Person

Luc English, PhD, Vice-President, Exploration of the Company, is a chartered geologist and fellow of the Geological Society of London, and is the Company's Qualified Person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Dr. English has reviewed and approved the technical information contained in this news release.

About Volcanic Gold Mines Inc.

Volcanic brings together an experienced and successful mining, exploration and capital market team focused on discovering significant mineral resources in underexplored countries. Through the strategic acquisition of mineral properties with demonstrated potential for hosting gold, silver and other critical mineral resources and by undertaking effective exploration and drill programs.

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 Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 limitation, statements about the Los Angeles antimony mine. 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 known 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, the pending assay results from drilling at the Los Angeles property; the uncertainties inherent in the mineral resource estimates; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated 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.sedarplus.ca. 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, beliefs, 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 results 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.

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