Mr. Patrick Laracy reports

VULCAN MINERALS INC. - GRANT OF INCENTIVE STOCK OPTIONS

Vulcan Minerals Inc. has granted 2.55 million incentive stock options to directors and employees exercisable at 23 cents for a period of 10 years pursuant to its stock option plan and subject to TSX Venture Exchange approval. The company has 12,990,240 shares reserved for issuance, of which 4.9 million are issued and outstanding prior to this current grant.

About Vulcan Minerals Inc.

Vulcan Minerals is a precious and base metals exploration company based in St. John's, Nfld. The company has strategic land positions in multiple active Newfoundland gold and base metal exploration and development belts. It also holds approximately 27 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.

We seek Safe Harbour.