Volcanic Metals Corp.
TSX VENTURE : VOL

Volcanic Metals Corp.

October 19, 2010 13:42 ET

Volcanic Closes Financing and Commences Drilling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2010) - Volcanic Metals Corp. ("Volcanic") (TSX VENTURE:VOL) is pleased to announce that it has closed its non-brokered private placement announced on September 21, 2010, issuing a total of 3,661,501 flow-through common shares (the "Shares") at a price of $0.15 per Share for gross proceeds of approximately $549,225. The Shares are subject to a hold period expiring February 16, 2011.

Volcanic will use the offering proceeds to fund the initial exploration and drilling of a test well on each of Aldon Oils Ltd.'s 320-acre Viewfield Property and Brownstone Resource Ltd.'s 6,400-acre Moosomin Property, both located in the Southeast Saskatchewan Bakken resource play. Volcanic will earn a 15% working interest in the Viewfield test well, and a 12.5% working interest in the Moosomin test well. Following the completion and evaluation of the test wells, Volcanic will have the option to continue participating in the projects.

John LaGourgue, President of Volcanic states, "We are very pleased at the opportunity to participate in the evaluation of these two prospective stage projects with Aldon and Brownstone, both very successful and experienced exploration and drilling companies focused on the Bakken."

For more information, please visit the company website at www.volcanicmetals.com.

ON BEHALF OF THE BOARD

VOLCANIC METALS CORP.

/s/ John LaGourgue

John LaGourgue
President, Chief Executive Officer and Director

Neither 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.

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