Mr. Patrick Laracy reports

VULCAN MINERALS INC. - DRILLING TO RESUME AT CARBONEAR ZINC-LEAD SEDEX PROJECT IN NEWFOUNDLAND

Vulcan Minerals Inc. has entered into a drilling contract to resume drilling at the Carbonear project in eastern Newfoundland. Drill mobilization is scheduled for mid-June. The initial program was planned for six holes, but due to weather-related access issues, the program was suspended this past winter after completion of one hole (CP-26-11). The remaining program will consist of five holes for approximately 1,000 metres of diamond core drilling.

Assay results from hole CP-26-11 continue to provide encouragement for a potential sedex-type (sedimentary exhalative) zinc deposit. Anomalous zinc and lead were encountered as follows: 0.113 per cent zinc over 31.15 metres from interval 12.1 metres to 43.25 metres, including 0.264 per cent zinc and 0.101 per cent lead over 7.5 metres from 28.5 metres to 36 metres. Full breakdown of these assay results for both zinc and lead are posted on Vulcan's website.

Patrick Laracy, president, noted: "Hole CP-26-11 is primarily a stratigraphic hole in order to better understand the sedimentary sequence in relation to its geophysical signature. We are pleased to see anomalous zinc-lead mineralization associated with widespread disseminated and fracture filling pyrrhotite and pyrite, minerals associated with sedex deposits. Though the results are not ore grade, they speak to the pervasive presence of zinc and lead in the right prospective geological setting. The Carbonear property represents an exciting grassroots exploration project and we look forward to completing this early-stage drill program."

Project summary

The property contains a late Precambrian marine sedimentary sequence prospective for sedimentary exhalative zinc, lead and other metals (sedex deposit) based on several geological characteristics. These include the geologic setting within a thick sequence (greater than six kilometres) of marine basinal shale, siltstone and sandstone, including turbidite deposits containing zinc and lead mineralization. Over the last few field seasons, the company has methodically acquired extensive geochemical soil data combined with historic soils, stream and lake bottom samples to identify a multielement anomaly associated with a stratigraphic zone of distinct magnetic character. This also coincides with a gravity anomaly. The current focus is on a two-kilometre section of the stratigraphic zone of interest that extends greater than 12 kilometres along strike with an average width of 1.5 kilometres. In a news release dated Feb. 6, 2026, the company described the previous work carried out on this property, providing context for the current drill program.

The property was originally identified (1980) for its sedimentary exhalative base metal potential by Cominco, which operated the giant Sullivan sedex mine in British Columbia, one of the largest zinc-lead mines in the world.

JEA assistance

The company has applied for a provincially funded junior exploration assistance (JEA) grant for work on the Carbonear project in 2026.

New website

The company is also pleased to announce the launch of a new website to better present the company's exploration and corporate activities. The address remains the same. The upgrade reflects Vulcan's optimism for continued resurgence in mineral exploration in Newfoundland and Labrador and the unfolding development of the Great Atlantic salt mine in western Newfoundland by affiliated company Atlas Salt Inc. A new logo also reflects a new phase for the company in its unwavering commitment to resource exploration in Newfoundland and Labrador.

Quality control

Vulcan used SGS Natural Resources for all sample assaying in the drilling program reported herein. SGS analytical laboratories operate under a quality management system that complies with ISO/IEC 17025. Vulcan employed SGS's four-acid digestion/ICP-OES multielement analysis package grouped with 30-gram fire assay (AAS finish) for gold. A four-acid digestion/ICP-OES ore-grade analysis package is utilized for base metals assaying greater than detection limits. Vulcan employed the use of standard reference materials for quality control at a rate of 5 per cent of total samples. SGS undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Preliminary inspection of these control samples shows them to be within the expected limits.

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 26.52 per cent of the shares in Atlas 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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