Mr. Patrick Laracy reports

VULCAN MINERALS INC. - PETROLEUM DEPOSITS REFUNDED-OPTIONS ISSUED

Vulcan Minerals Inc. joint venture partner Investcan Energy Corp., the operator of petroleum permits 96-105, 03-106 and 03-107 in western Newfoundland, has relinquished the permits back to the Province of Newfoundland and Labrador. This extinguishes the company's royalty interests in those permits. The relinquishment occurred after Investcan successfully abandoned all of the wells and reclaimed all of the petroleum drill sites on the petroleum permits. As a result, the company has received a cash payment from Investcan in the amount of $286,000 as a full refund of the various government reclamation deposits that were posted by the company.

The company acknowledges, with appreciation, receipt of $7,186 in a junior exploration assistance grant from the Province of Newfoundland and Labrador in relation to the 2017 work program carried out on its Springdale copper-gold project.

The company also announces that it has granted 2.75 million share purchase stock options (options) to directors, management advisory board members and employees. The options are exercisable at 10 cents for a period of five years. Fifty per cent of the options vest immediately and 50 per cent vest on Dec. 31, 2019. The company has reserved 5,852,613 listed shares for issuance under its stock option plan, of which 2.35 million options have been issued prior to the current issue.

Vulcan is a diversified company with mineral exploration and development interests in Newfoundland and Labrador. The company owns approximately 67 per cent of the outstanding shares in Red Moon Resources Inc.

We seek Safe Harbor.