Ongoing Drilling After Confirmation Of Bonanza Grade At Motagua Norte Property

VANCOUVER - Radius Gold Inc. and Volcanic Gold Mines Inc. reported on the continuation of the drilling campaign at the Motagua Norte Project, which has already confirmed that the broad area of boulder float with abundant bonanza grade assay results discovered by Volcanic geologists at the Mila target is underlain by a serpentinite package, and the colluvial boulders of quartz and schists bearing high-grade gold values have likely moved downslope from a major structural corridor, that includes the Veta Madre Fault.

Initial results have been received for the first two diamond drill holes (MIDD-24-04 & 05) drilled to the south that cut the broad Veta Madre Fault. The results indicate the gold bearing colluvium fields did not originate from the Veta Madre structure as no anomalous samples were returned from these two holes.  Geological mapping further upslope, south of Veta Madre, has identified another large quartz structure (Veta Padre). Between the two main structures visible gold in outcrop in narrow south dipping veins has been observed.