Mr. Patrick Laracy reports

VULCAN MINERALS INC. SAMPLES UP TO 17.8% COPPER AT COLCHESTER AND IDENTIFIES NEW GEOPHYSICAL DRILL TARGETS IN NEWFOUNDLAND

Vulcan Minerals Inc. has received high-grade copper and gold assays from samples taken during the company's fieldwork at the Colchester property in Newfoundland. Twenty-six grab samples were sent for assay, of which 16 assayed above 1 per cent copper (up to 17.8 per cent) and seven assayed above one gram per tonne gold (up to 8.7 g/t) as in the table.

      COLCHESTER SAMPLING RESULTS

Sample        Au (g/t)            Cu (%)

PC16217          1.06             17.80
PC16216          0.75             16.70
PC16104B         2.11              3.92
PC16099B         8.75              6.07
PC16099C         4.00              1.67
PC16099A         6.07              0.13
PC16155B         0.86             12.20
PC16155A         0.96             11.50
PC16214          0.20              7.03
PC16201B         0.08              5.79
PC16209B         0.66              4.11
PC16171          0.15              3.62
PC16212A         0.29              3.57
PC16212B         0.09              3.14
PC16213          0.97              3.08
PC16206B         3.86              2.63
PC16155C         0.18              1.41
PC16206C         1.23              0.82

Select samples from 2016 Colchester 
mapping program showing copper and gold
highlights.

Copper mineralization occurs as disseminations, veins or lenses, and massive layers or pods, hosted in chlorite schist zones; gold mineralization is associated with semi-massive to massive sulphide mineralization, typically chalcopyrite and pyrite. Please refer to the company's website for maps of the Colchester property.

These results further confirm the high-grade nature of the Colchester property and, combined with the recent drill results, will be incorporated into the 2017 evaluation program. In particular, the Alpha zone demonstrates significant gold enrichment which will require further ground investigation.

The company has also received the final processed induced polarization survey results and interpretation by Abitibi Geophysics from its late 2016 program. All known areas of mineralization produced chargeability responses including the Colchester Main and Old English zones. The survey also resolved an historical anomaly that occurs between known mineralization at Colchester and Old English. This anomaly exhibits some of the highest chargeability from the 2016 IP survey and covers a zone approximately 900 metres in length and is open to the south. This anomaly has not been drilled by historic holes and represents an exciting new prospect in a well-endowed mineralized environment. Abitibi recommends 24 priority drill locations over the surveyed area based on their data interpretation. Further discussion of the final interpretation will be forth coming after a full internal assessment of the data.

Vulcan will be exhibiting at the Prospector's and Developers Convention in Toronto from March 5 to March 8 at Booth 2744.

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.

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