VOL Volatus Aerospace Corp

Volcanic Metals Corp. (TSX VENTURE:VOL) ("Volcanic") is pleased to announce the
following update on the exploration program at its Gjegjan Property located in
Albania.


Volcanic has completed the compilation and interpretation of all available
historic data from the Albanian Geological Survey, as well as 85% of its
high-resolution Mag/EM airborne geophysical survey on the 200km(2) North and
South blocks. Interpretation of the geophysical data has identified several
geophysical anomalies of potential sulphide source.


North Block:

Volcanic has conducted a ground investigation on all EM anomalies identified
from the airborne survey. Geological mapping, rock and soil sampling, and
induced polarization and self potential EM geophysical surveying was conducted
over the prominent Perbreg anomaly, located 1.5km southeast of the former
Gjegjan copper mine.


South Block:

Copper showings in the Surroj and Prej Lure areas were prospected and surveyed.
All geophysical data from the airborne survey was interpreted with the following
recommendations:




--  Eleven VTEM conductive zones have been interpreted as probable bedrock
    conductors with a potential for base or Ni/PGM/Cr mineralization, of
    which six are rated as top priority targets; 
--  Initial follow up using a combination of prospecting, mapping and
    geochemistry and limited MaxMin HLEM coverage (supplemented by SP and
    magnetics as determined to be useful) on small grids is recommended; 
--  Detailed ground geophysical surveys, including possible use of large-
    loop TDEM surveys for deeper targets, are required for suitable
    delineation of the various inferred conductive targets before any
    drilling decision; 
--  The AEM and aeromagnetic data provide new insights into the geology and
    structure of the poorly mapped South Block; in particular, the data
    outlines a series of semi-continuous mafic/ultramafic assemblages
    separated by indicated oblique cross faults; 
--  Continued close interaction and collaboration with local experts in
    terms of evaluating the VTEM targets as well as reassessing any past
    geophysical and other exploration data in this region is strongly
    advocated; this may lead to other weaker VTEM anomalies being identified
    as possibly interesting secondary targets. 



Volcanic's technical team believes there is potential for additional
Gjegjan-style VMS deposits in the area. Volcanic is currently evaluating the
results of its exploration program in order to delineate an appropriate follow
up program of possible ground work, evaluation, and drilling on potential
targets.


Mr. Rock Lefrancois, P.Geo., Director of Volcanic and Qualified Person as
defined by National Instrument 43-101, has reviewed the technical information on
the Gjegan Property contained in this News Release.


Aldon and Brownstone Projects / Financing

Volcanic has entered into a letter of intent with Aldon Oils Ltd. ("Aldon") to
participate in the drilling of an initial horizontal test well on Aldon's
320-acre Viewfield Property located in the heart of the Bakken play in
Southeastern Saskatchewan. Volcanic will fund 25% of the drilling, completion
and equipping costs in order to earn a 15% working interest in the well.
Following the completion of the test well, Volcanic will have the option to
continue to participate in the further drilling of additional wells on the
property with the same net ownership.


Volcanic has entered into a second letter of intent with Brownstone Resources
Ltd. ("Brownstone") to participate in the drilling of an initial horizontal
Bakken zone test well on Brownstone's 6400-acre Moosomin Property (the "Moosomin
Property") located near the town of Moosomin in Southeastern Saskatchewan.
Volcanic will fund 12.5% of the drilling, completion and equipping costs in
order to earn a 12.5% working interest in the well. Following the completion of
the test well, Volcanic will have the option to continue to participate in the
further testing and evaluation of the property.


Mr. John LaGourgue, President of Volcanic, states, "Together with the ongoing
exploration of the Gjegjan Property, we are very pleased at the opportunity to
participate in the evaluation of these two prospective, early stage projects and
the opportunity they represent, specifically in the Saskatchewan Bakken play, in
potentially expanding and diversifying our interests in the natural resource
sector."


To fund these new projects, Volcanic will undertake a non-brokered private
placement of up to 3,333,333 flow-through common shares at a price of $0.15 per
share for gross proceeds of up to $500,000. The securities issued pursuant to
the private placement will be subject to a four month hold period from closing.
Completion of the private placement remains subject to the receipt of all
necessary regulatory approvals, including the approval of the TSX Venture
Exchange.


ON BEHALF OF THE BOARD

VOLCANIC METALS CORP.

John LaGourgue, President, Chief Operating Officer and Director

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