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Vulcan Minerals Inc
Symbol VUL
Shares Issued 58,526,129
Close 2017-05-09 C$ 0.075
Market Cap C$ 4,389,460
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Vulcan Minerals acquires gold claims next to Colchester

2017-05-09 09:53 ET - News Release

Mr. Patrick Laracy reports

VULCAN MINERALS INC. ACQUIRES ADDITIONAL GOLD PROSPECTS IN NEWFOUNDLAND

Vulcan Minerals Inc. has acquired a series of gold claims adjacent to its Colchester copper-gold property on the Springdale peninsula in north-central Newfoundland. The properties consist of 174 claims (4,350 hectares) covering numerous underevaluated gold showings occurring within the Lushes Bight volcanic sequence, which hosts the copper-gold deposits of the company's Colchester property. Gold occurs in quartz and quartz carbonate veins along an eight-kilometre east-trending structure and a three-kilometre northeast-trending structure. The Springdale peninsula has a long mining history and is undergoing resurgence in mineral exploration and development activity including efforts by Maritime Resources Corp. to reopen the past producing Hammerdown gold mine seven kilometres southwest of Vulcan's claims.

Based on mineral assessment reports filed with the government of Newfoundland and Labrador numerous gold showings occur on Vulcan's claims, including the following.

Maple Leaf and Oak Leaf showings

These showings were identified by Noranda in the 1980s but received little follow-up. Gold has been uncovered in several trenches, including grab samples up to 66 grams per tonne gold and 55.4 grams per tonne gold. Gold in surficial samples is widespread highlighted by up to 840 grams per tonne gold in heavy mineral concentrates from streams (in delicate gold grains).

Line Pond trend

The Line Pond trend covers several showings, including a gold soil geochemical anomaly extending over an area of 1,400 metres by 200 metres based on grid sampling, including up to 8.4 grams per tonne gold in grab samples.

The Rambler Pond showing consists of multiple showings up to 2.2 grams per tonne gold in grab samples and 2.37 grams per tonne gold in heavy mineral concentrates and reports of visible gold in soils.

West Brook and Southwest Brook showings

These showings contain up to 2.6 grams per tonne gold in outcrop and 7.53 grams per tonne gold in heavy mineral concentrates, respectively.

Scissors Pond

A gold soil anomaly extends over a 600-metre grid distance at Scissors Pond, with grab samples up to 1.09 grams per tonne gold, 4.1 per cent copper and 34 grams per tonne silver, but no follow-up work is recorded.

The company is in the process of compiling all available information toward designing a 2017 exploration program to evaluate the new claims. For a map of the Springdale gold project, please visit Vulcan Minerals' website.

Patrick Laracy, president of Vulcan Minerals, noted: "The Springdale gold property contains high-quality prospects adjacent to our more advanced Colchester copper-gold project, providing the opportunity for brand new discovery potential. It also allows for efficient use of resources to carry out our initial field evaluation this summer. The multiple gold showings in structurally favourable locations are excellent exploration targets in an area of proven gold production."

Patrick J. Laracy, PGeo, president, and Patrick Collins, PGeo, exploration manager, are qualified persons responsible for the contents of this news release as defined in National Instrument 43-101.

Vulcan Minerals is establishing itself as a leading explorer in Newfoundland and Labrador focused on project generation, value addition and partnering.

We seek Safe Harbor.

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