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Vulcan Minerals Inc
Symbol VUL
Shares Issued 58,526,129
Close 2016-11-29 C$ 0.035
Market Cap C$ 2,048,415
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Vulcan to start drilling at Colchester in a few days

2016-11-30 10:58 ET - News Release

Mr. Patrick Laracy reports

VULCAN MINERALS INC. - COMMENCES DRILLING THE COLCHESTER COPPER-GOLD PROJECT IN NEWFOUNDLAND

Vulcan Minerals Inc. has completed the previously announced induced polarization (IP) geophysical survey at its Colchester copper-gold property in north-central Newfoundland utilizing the Orevision technique by Abitibi Geophysics. This high-resolution technique allows 3-D processing and visualization of the data set. The initial focus is on the Old English zone where a strong IP response is identified over a length of approximately 500 metres. As well, IP data were collected over the main Colchester zone to calibrate the data to known mineralization. An additional strong IP response was identified between the Colchester and Old English zones. A full discussion of the IP data processing, modelling and interpretation will be forthcoming. For now, the company is focused on drill testing the Old English anomaly to gauge the responsiveness of the known mineralization to the IP method and to augment the relatively sparse historic drilling in this area. This drilling included hole H-83, which intersected 65.7 metres of 0.52 per cent copper, including 17.1 metres of 1 per cent copper (at a 118-metre depth), and hole CC-03-09 which intersected 4.2 grams per tonne gold over 2.9 metres (at a 97-metre depth). To this end, the company announces that it will commence drilling in the next few days. The program will be preliminary in nature, amounting to approximately 900 metres over four holes to be completed in approximately two weeks. Based on the variety of mineralization identified from historic information and observed in the field, the company believes the property will require systematic evaluation utilizing state-of-the-art geophysical technology and several rounds of drilling.

The Colchester property is owned 100 per cent by Vulcan with no underlying royalties, and consists of over 2,500 hectares covering past-producing historic copper mines and is accessible by paved road approximately 25 kilometres off the Trans-Canada Highway. The area is serviced by an airport at Deer Lake 110 kilometres to the southwest. Please refer to the company's web page for location and geology maps. The 2016 work program is eligible for financial assistance from the junior exploration assistance program of the government of Newfoundland and Labrador.

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

Vulcan is establishing itself as a leading explorer in Newfoundland and Labrador focused on project generation, value addition and partnering. Vulcan has projects available for option, including Colchester, and a competent team to operate all exploration activities.

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