St. John’s – Newfoundland – Vulcan Minerals Inc. (“the Company” TSX-V: VUL) is pleased to announce that Jennings Capital Inc. and D&D Securities Company have been retained as co-lead agents to carry out a best efforts brokered private placement for proceeds of up to $5,090,000 by issuance of up to 4,700,000 Flow-Through Shares at $0.65 per flow-through share and up to 3,700,000 Units at $0.55 per unit.

Each unit will consist of one common share and one-half of one common share purchase warrant.  Each whole warrant will be exercisable into one common share at a price of $0.75 per share for a period of twenty-four months from closing.  The warrants are subject to an acceleration clause which allows the Company to accelerate the expiry date if the volume weighted average trading price of the shares exceeds $1.40 for twenty consecutive trading days.

The proceeds of the offering will be used to fund exploration and/or development activities in western Newfoundland and offshore Labrador and to provide general working capital.

The shares issued will have a four month hold period as per applicable securities law.    The financing is subject to final TSX Venture Exchange approval.  The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.