Mr. Patrick Laracy reports

VULCAN MINERALS INC. - CORPORATE UPDATE

Vulcan Minerals Inc. has provided a corporate update.

Highlights:

• McNeilly zone drilling of the Colchester property -- assays pending;
• Marketing agreement -- JAC Marketing;
• Stock options issued.

The company successfully completed a five-hole drill program (715 metres) at the McNeilly zone (Colchester project) last December to test new induced polarization (IP) anomalies related to the volcanic massive sulphide copper-gold deposit in central Newfoundland. Previous IP surveys by the company and historic operators have shown a positive correlation to mineralized zones. Visual inspection of the drill core confirms that disseminated and stringer copper mineralization are associated with the new IP anomalies. Drill core is in the process of detailed logging and assay analysis. Maps detailing the drilling program will be provided upon completion of analysis and assay results.

The company has entered into a marketing services agreement with JAC Marketing of Mount Pearl, Nfld., for a term of one year at a rate of $2,850.00 per month. JAC will provide various services including website design and development, media production and marketing strategy. The agreement is subject to TSX Venture Exchange approval.

Patrick Laracy, chief executive officer and president, commented: "We look forward to working with JAC to increase the company's visibility and market awareness. The first steps are to update our website and establish a digital presence on various media. Our company is well capitalized with an exciting story."

The company has granted 3.75 million stock options to directors and employees exercisable at 15 cents for a period of two years. The company has 12,930,927 shares reserved for issuance pursuant to its stock option plan, of which 6.55 million are issued and outstanding prior to this current grant.

The company will be exhibiting at the upcoming Prospectors and Developers Association of Canada Conference in Toronto from March 2 to March 5 at booth No. 2835 in the Investors Exchange.

About Vulcan Minerals Inc.

Vulcan Minerals is a base and precious metals exploration company based in St. John's, Nfld., with strategic land interests in multiple active Newfoundland exploration and development belts. It also owns approximately 30 per cent of the shares in Atlas Salt Inc. (TSX-V: SALT). Atlas Salt is currently developing the Great Atlantic salt mine in western Newfoundland.

Patrick J. Laracy, PGeo, president, is the qualified person who has reviewed and approved the technical contents of this news release as defined in National Instrument 43-101.

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