Radius Gold Inc. announced that the Cirilo I exploration licence, covering a 13.5 km² (4.5 x 3 km) area including the highly prospective Mila gold discovery in the Motagua Norte project area of Guatemala, has been granted by the Ministry of Mines of Guatemala. The Mila prospect is an area of bonanza-grade quartz float, subcrop and outcrop discovered by the Company's JV partner, Volcanic Gold Mines, during regional prospecting along the Motagua Norte schist belt in Central Guatemala. A significant gold footprint has already been mapped-out with approximately one hundred rock chip samples spread over a 250 metre by 570 metre area returning assays exceeding 10 g/t gold, including twenty of over 100 g/t gold and a maximum of 692 g/t gold.

The abundance of high-grade quartz over a significant area point to an important high-grade gold system. A thorough geological assessment and continued prospecting by Volcanic throughout the licence area is ongoing, and Volcanic intends to start trench and drill testing as soon as the necessary permitting procedures are completed. The Cirilo 1 exploration licence is the first to be granted out of a set of four exploration licence applications that comprise the Motagua Norte project.

The other three applications cover an additional 72.68 km² of the highly prospective Motagua Norte orogenic gold corridor. Volcanic is working with the permitting authorities and local government to expedite the permitting process.