Volcanic Gold Mines Acknowledges Aura Minerals' Era Dorado Project Progress

Vancouver, British Columbia — January 13, 2026 — Leads & Copy — Volcanic Gold Mines Inc. (TSXV: VG) has acknowledged Aura Minerals Inc.'s January 6 announcement that the owners of the Era Dorado Project (formerly known as the Cerro Blanco gold deposit) have obtained a construction license and started early work on developing an underground mine.

The Era Dorada mine aims to produce over 1.6 Moz of gold at a rate of 100-120 koz per year, which will significantly boost the local and national economy, according to a December 8, 2025, news release by Aura Minerals Inc.

Volcanic Gold Mines believes the start of construction at Era Dorado is an important step for the development of its nearby Holly project, located approximately 40 km north of Aura’s project and connected by paved road. The Holly project has an inferred mineral resource of 1.32 million tonnes at 6.46 g/t Au and 256 g/t Ag for 270,000 oz contained gold and 11 Moz contained silver. Volcanic believes Holly has the potential to be developed as an underground mine.

Despite support from many local communities, some local and municipal councils have opposed the Holly project. Volcanic believes that the development of the nearby Era Dorado mine in an environmentally and socially responsible manner should alleviate some of these concerns. The company’s management believes that majority support and unilateral acceptance are essential before resuming exploration and development of the Holly project.

Volcanic Gold Mines Inc. President and CEO Simon Ridgway stated that since 2022, when demonstrations suspended the company's drilling campaign, they have been working with the local community to promote the benefits of restarting work at the Holly Project. He added that there is now an opportunity for the inhabitants of the area to see the advantages that responsible mining can bring to a region, as steady reliable employment creates prosperity that spreads far beyond those directly employed at the mine.

The Company continues to review a number of other opportunities both within Guatemala and other parts of Central America.

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.

Simon Ridgway, President and CEO

Volcanic Gold Mines Inc.

Source: Volcanic Gold Mines Inc.