St. John’s – Newfoundland – Vulcan Minerals Inc. (“the Company” TSX-V: VUL) announces that it has been advised by NWest Energy Inc. (NWest) a related private company, that NWest has launched it’s website atwww.nwestenergy.com. The Sproule Associates NI-51-101 compliant resource assessment report of the Western Newfoundland offshore petroleum licences is posted on the website. NWest owns a 100% interest in four contiguous offshore exploration licences covering approximately 1.5 million acres with world class petroleum potential (see news release dated May 7, 2007). Vulcan Minerals Inc. is a major shareholder (30%) of NWest.
Vulcan Minerals has been the most active explorer in Western Newfoundland in recent years with a series of drilling and seismic programs in the under-explored Bay St. George onshore basin where it owns approximately 250,000 acres of prospective lands. The company has discovered an active petroleum system and is focussed on locating the first commercial discovery in the basin. A seismic survey to refine deep drill targets (2500 – 3500 metres depth) has been permitted. Requests for bids from seismic acquisition contractors have been issued for a survey to be carried out this summer. The company expects the targets to be ready for drilling in early 2008 after the new seismic is acquired, processed, interpreted and drill rigs capable of deep drilling are available in the area. For further technical information regarding the company’s Western Newfoundland exploration program, please visit www.vulcanminerals.ca.
The President of the company, Mr. Patrick J. Laracy will be making presentations at the Western Newfoundland Oil and Gas Symposium in Corner Brook, Newfoundland on June 6, 2007 and at the Newfoundland Ocean Industries Association’s annual East Coast Canada Oil and Gas Conference in St. John’s Newfoundland on June 20, 2007.