Vulcan Minerals Inc.-Update

Vulcan Minerals Inc. ("the Company" - "Vulcan") (TSX VENTURE:VUL) announces that
Investcan Energy Corporation (Investcan) has spudded a well on the Flat Bay
petroleum property, Permit 03-106, in the Bay St. George basin in western
Newfoundland. Vulcan owns a 2% gross overriding royalty on the permit. 


The Company also announces that it has relinquished its minority working
interests in the Parsons Pond petroleum permits to the operator, subject to
regulatory approval. Based on the inconclusive drilling results, the minority
nature of the company's interest, acceptable commercial arrangements with the
operator and the current equity market, a relinquishment of the Company's
interest was deemed appropriate.


The Company is engaged in a search for a new core project and is actively
reviewing a variety of opportunities. Given the company's relatively strong cash
position (approximately $4.5 million) and no debt, the objective is to acquire
assets with attractive valuation in the currently depressed equity markets.


Vulcan is a diversified junior exploration company with petroleum and mineral
exploration interests in Newfoundland and in Labrador.


The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release. The statements made in this News
Release may contain certain forward-looking statements. Actual events or results
may differ from the Company's expectations. Certain risk factors may also affect
the actual results achieved by the Company. 


There can be no assurance that forward-looking information will prove to be
accurate. Should one or more of these risks and uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from any conclusions, forecasts or projections described in the
forward-looking information. Accordingly, readers are advised not to place undue
reliance on forward-looking information. Except as required under applicable
securities legislation, the Company undertakes no obligation to publicly update
or revise forward-looking information, whether as a result of new information,
future events or otherwise.


Shares Issued: 57,526,129

FOR FURTHER INFORMATION PLEASE CONTACT: 
Patrick J. Laracy
President
(709) 754-3186


Gerri A. MacNeil
Business Manager, Investor Relations
(709) 754-3186
info@vulcanminerals.ca
www.vulcanminerals.ca

Vulcan Minerals (TSXV:VUL)
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