Volta Closes $34.5 Million Bought Deal Private Placement

Not for Dissemination in the United States or Over United States Newswire services

TORONTO, June 2, 2010 - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces that
it has closed its previously announced private placement of special warrants
with a syndicate of underwriters led by Cormark Securities Inc. and including
GMP Securities L.P., Wellington West Capital Markets Inc., Rodman & Renshaw,
LLC and M Partners Inc. (collectively, the "Underwriters"). The Underwriters
have purchased 22,258,000 special warrants, including 2,903,160 special
warrants sold pursuant to the Underwriters' option, on an underwritten bought
deal private placement basis, at a price of $1.55 per special warrant for
aggregate gross proceeds to the Company of $34,499,900.

The special warrants, as well as the common shares issuable upon exercise
of the special warrants, are currently subject to a four-month and one day
hold period under applicable Canadian securities laws which expires on
October 3, 2010. Each special warrant shall entitle the holder thereof to
receive, without payment of additional consideration, one common share of
Volta (each, a "Common Share"), other than in the circumstances described
below.

The Corporation has agreed to use its commercially reasonable efforts to
file a preliminary short form prospectus in each of the provinces of Ontario,
Alberta, British Columbia and Manitoba, and obtain a receipt for a final
short form prospectus from the applicable securities regulators in such
jurisdictions within 45 days of closing for the purpose of qualifying the
common shares issuable upon exercise of the special warrants for distribution
to the public. If such receipt for a final short form prospectus is not
obtained within 45 days of closing, the special warrants will be exercisable,
for no additional consideration, into 1.05 common shares instead of one
common share.

The proceeds of the offering will be used for general working capital
purposes including the advancement of the Kiaka Gold Project.

The Company has received conditional listing approval from the Toronto
Stock Exchange for the listing of all common shares to be issued in
connection with the exercise of the special warrants sold under the private
placement, subject to satisfying certain standard listing conditions of the
Exchange.

Volta is a mineral exploration company primarily focused on becoming a
leader in the identification, acquisition and exploration of gold properties
in West Africa. The Company is currently fast-tracking its flagship Kiaka
Gold Project, located in Burkina Faso, towards a development decision.

Forward Looking Information Caution:

This press release presents "forward-looking statements" within the
meaning of Canadian securities legislation that involve inherent risks and
uncertainties. Forward-looking statements include, but are not limited to,
statements with respect to the future price of gold and other minerals and
metals, the estimation of mineral reserves and resources, the realization of
mineral reserve estimates, the capital expenditures, costs and timing of the
resources, the realization of mineral reserve estimates, the capital
expenditures, costs and timing of the development of new deposits, success of
exploration activities, permitting time lines, currency exchange rate
fluctuations, requirements for additional capital, government regulation of
mining operations, environmental risks, unanticipated reclamation expenses,
title disputes or claims and limitations on insurance coverage. Generally,
these forward-looking statements can be identified by the use of forward
looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of Volta to be materially different
from those expressed or implied by such forward looking statements, including
but not limited to: risks related to international operations, risks related
to the integration of acquisitions; risks related to joint venture
operations; actual results of current exploration activities; actual results
of current or future reclamation activities; conclusions of economic
evaluations; changes in project parameters as plans continue to be refined;
future prices of gold and other minerals and metals; possible variations in
ore reserves, grade or recovery rates; failure of equipment or processes to
operate as anticipated; accidents, labour disputes and other risks of the
mining industry; and delays in obtaining governmental approvals or financing
or in the completion of development or construction activities. Although the
management and officers of Volta believe that the expectations reflected in
such forward-looking statements are based upon reasonable assumptions and
have attempted to identify important factors that could cause actual results
to differ materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements. Volta
Resources does not undertake to update any forward-looking statements that
are incorporated by reference herein, except in accordance with applicable
securities laws.

%SEDAR: 00026749E

For further information: please refer to our website
www.voltaresources.com or contact: Kevin Bullock, P.Eng., President &
CEO, Tel: +1-647-388-1842, Fax: +1-416-867-2298, Email:
kbullock@voltaresources.com; Andreas Curkovic, Investor Relations, Tel:
+1-416-577-9927

For further information: please refer to our website www.voltaresources.com or contact: Kevin Bullock, P.Eng., President & CEO, Tel: +1-647-388-1842, Fax: +1-416-867-2298, Email:
kbullock at voltaresources.com; Andreas Curkovic, Investor Relations, Tel: +1-416-577-9927