St. John’s Newfoundland and Labrador – Vulcan Minerals Inc. (“the Company” – “Vulcan” TSX-V:VUL) announces that it has appointed Mr. Rowland Howe of Ontario, Canada to the Company’s Technical Advisory Committee.
Mr. Howe is a Chartered Engineer, a qualified mining engineer and mine manager with over 35 years of progressive leadership experience in mining operations. He started his career in the British coal industry and moved on to Imperial Chemical Industries at their Salt Mine in the UK. Rowland moved to Canada in 1995 to take on the role as Mine Manager at the Goderich Salt Mine in Ontario owned by a major player in the North American Salt industry. He oversaw the expansion of that mine from approximately 3.5 million tonnes per year to 7.5 million tonnes per year making it the world’s largest salt mine. Long associated with the Ontario mining industry he also served as a board member of the Ontario Mining Association. Rowland later worked in a strategic engineering role for his employer delivering key projects across the company’s divisions before retiring in November 2016. He has continued in the role of President of the Goderich Port Management Corporation while acting as an independent consultant offering strategic and leadership services. Rowland is known as a persuasive and energetic leader of people and an inspirational engineer.
The Technical Advisory Committee currently includes Mr. Bob Kelly an experienced mining professional and a former Vice President of Teck Resources Limited and Mr. Sean O’Brien a former Senior Geologist with the Geological Survey of Newfoundland and Labrador.
The Company has created a balanced approach to mineral exploration and development by directly exploring for precious and base metals while indirectly pursuing industrial mineral opportunities through its subsidiary Red Moon Resources Inc. (Red Moon). This strategy provides shareholders with exposure to both the high impact potential for metal discoveries and the sustainability of industrial mineral production. The discovery and development of industrial minerals generally involves less geological risk and shorter timelines to production with lower capital costs than the development of metallic/precious mineral deposits. The greater probability of cash flow from industrial mineral development will provide a measure of stability through the extreme volatility of the commodities cycle. Consistent with this strategy the Company has created the Technical Advisory Committee to provide it with the input from a variety of industry professionals to broaden and enhance its decision making.
Commenting on the appointment of Mr. Howe, the President of the Company and Red Moon stated “We are very pleased to attract a seasoned mining engineer of Rowland’s experience. The fact that he has joined our team is a timely endorsement of the Captain Cook salt project in western Newfoundland. We need the type of skills that Rowland possesses as we advance this project through the feasibility stage and anticipate retaining his skills on a more engaging consultancy basis as we move this project towards production.”
Vulcan owns approximately 67% of the common shares of Red Moon Resources Inc. (TSX-V:RMK) and a royalty on the Captain Cook salt project in western Newfoundland. Red Moon’s projects include the development of the Captain Cook salt deposit and Ace gypsum deposit in western Newfoundland and the Black Bay nepheline syenite project in southern Labrador. In 2016 Red Moon received from APEX Geoscience Ltd. a maiden mineral resource assessment report with respect to the salt deposit completed pursuant to National Instrument 43-101 requirements. The resource estimate concluded that using a 95.0% cut-off grade for sodium chloride, the Captain Cook Salt Resource Estimate is classified as “Inferred” and demonstrates that there is 908 million tonnes of high purity halite (96.9% salt) for 880 million in-situ tonnes of salt.
The Company has granted 150,000 stock options to a consultant and an officer of the Company exercisable at $0.10 for a term of five years pursuant to certain vesting requirements.
Patrick J. Laracy, P. Geo, President, and Patrick Collins, P. Geo. are qualified persons responsible for the contents of this news release as defined in National Instrument 43-101.
We seek Safe Harbor.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.
For information please contact:
Patrick J. Laracy, President