Mr. Patrick Laracy reports

VULCAN MINERALS INC.-FIELD OPERATIONS UNDERWAY

Vulcan Minerals Inc. has provided the following update on field operations in the Bay St. George basin in western Newfoundland.

Completions testing

A service rig has assembled on the Robinson No. 1 well for the completion operations followed by mobilization to the Red Brook No. 2 well. Phase I will consist of perforating certain zones, pressure testing and injectivity testing toward designing a fracture stimulation program (phase II) for favourable intervals as previously described in Stockwatch July 13, 2010.

Onshore seismic

The proposed 2010 seismic program will commence field operations this week with preflag scouting of lines. The 2-D program will consist of approximately 140 line kilometres and will be the largest single program ever acquired onshore western Newfoundland. The program is designed to: 1) delineate the Jockey structure situated on the south flank of the Robinson and Red Brook gas discoveries; 2) delineate the Red Brook structural area; and 3) provide data downdip of the Flat Bay oil deposit with the intent to identify oil targets in this area at modest depths less than 1,500 metres. Based on the current schedule the acquisition program should be completed by the end of November. The data will be processed and interpreted as soon as possible to finalize additional drill targets in the survey area.

Airborne survey

An airborne geophysical survey is currently being flown over the Flat Bay oil deposit area in an attempt to better understand the internal structure of the deposit. The identification of faults and fractures, which would enhance natural permeability in the deposit, will be helpful in locating areas for further drilling and evaluation. The Flat Bay oil deposit occurs at a shallow depth (top of oil zone as shallow as 120 metres) in a low permeability reservoir.

These field operations continue the evaluation of the Bay St. George basin. The company in conjunction with its 50/50 joint venture partner Investcan Energy Corporation are committed to a full evaluation of their petroleum discoveries in the basin.