Volcanic Gold Mines Inc T.VG

Primary Symbol: V.VG Alternate Symbol(s): VLMZF

Metals & Mining Industrial Metals & Minerals

Volcanic Gold Mines Inc. is a Canada-based company, which is engaged in the acquisition and exploration of mineral properties, focused on building multi-million-ounce gold and silver resources in under-explored countries. The Company has a 60% interest in two highly prospective gold-silver projects in Guatemala: Holly deposit and Motagua Norte project. The Holly deposit is an advanced-stage, high-grade gold-silver deposit with demonstrated underground mine potential. The Holly property straddles the regional Jocotan Fault which forms part of the 400 kilometers (km) long by up to 80 km wide deformation zone that separates the North American and Caribbean plates. The Motagua Norte project has a bonanza-grade gold-silver quartz vein system. The Motagua Norte project covers an area of over 86 square kilometers (km2) land position. The Cirilo 1 exploration license covers an area of over 13.5 km2 and includes the Mila gold anomaly. The 72.68 km2 is under application for exploration licenses.

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Volcanic Gold Mines Inc

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Comment by mbgldon Jul 12, 2010 10:54am

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Post# 17261834

RE: RE: RE: uplift

In the end we will only own 30% of this deposit.

Goldcorp Option Agreement

VG Gold has theoption to earn a 60% interest in the Paymaster West Property fromGoldcorp by making $6.0 million in exploration expenditures by June2012. Once VG Gold has given notice that is has earned its 60%, Goldcorphas six months to decide if it wishes to increase its ownership from40% to 70% by paying VG Gold $710,000 and spending $8.25 million on theproperty within two years and then completing a feasibility study by theend of year three.

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Corus reports Q1 profit drop in the face of falling revenue