October 12, 2021

St. John’s, Newfoundland and Labrador – Vulcan Minerals Inc. (“the Company” – “Vulcan” TSX-V: VUL), is pleased to announce commencement of drilling at its 100% owned Colchester copper/gold property in Newfoundland. A minimum program of 1500 meters will test the Andrews Pit geophysical target which offsets the historic main Colchester copper/gold deposit. As well, the western flank of the Colchester deposit and the McNeily showing will be drill tested.   The Colchester area is part of the larger Springdale property which hosts numerous historic copper and gold deposits and showings, none of which have been adequately explored with the benefit of modern digital geophysical and geological modelling. A review of the data with relevant maps is available in the corporate presentation at the company’s website www.vulcanminerals.ca . Maritime Resources Corp. is currently redeveloping the Hammerdown gold mine approximately 5 kilometers southwest of the Springdale property.

Patrick Laracy, President, remarked “Our ongoing work at the Springdale/Colchester property is part of a larger objective to fully evaluate the copper and gold endowment of this extensively mineralized area within a volcanic, intrusion and vein hosted environment. The current drill program will focus on high resolution induced polarization anomalies to test for new mineralization as well as calibrate the new data to historic occurrences.  The Springdale property contains a diversity of gold and copper prospects, is road accessible and near significant mining services including drilling companies, field services and an analytical laboratory. As such it makes for an exciting project in an advantaged area and is a key exploration asset for the Company”

South Voisey’s Bay

The Company further notes, in follow up to its option agreement with Fjordland Exploration Inc. (September 23rd news release), that Fjordland announced on October 6th that it has initiated a new electromagnetic ground survey on its regional South Voisey’s Bay nickel copper cobalt project in Labrador, of which the Vulcan option forms a part. The survey is being funded by Ivanhoe Electric Inc., a privately owned US corporation led by CEO and Co-Chair Robert Friedland. Fjordland added that “positive survey results are expected to lead to a drill program in 2022”.

About Vulcan

Vulcan Minerals is a precious and base metals exploration company based in St. John’s Newfoundland. The company has strategic land positions in multiple active Newfoundland gold exploration and development belts. It also holds approximately 38 % of the shares in Atlas Salt Inc. (TSXV: SALT) (formerly Red Moon Resources Inc.). Atlas Salt Inc. is the new name for Red Moon Resources Inc. which commenced trading under the new stock symbol SALT on September 1st.   Atlas Salt is an industrial minerals company that is carrying out a feasibility analysis on its Great Atlantic Salt deposit. It also produces gypsum from its Ace Mine and owns the mineral rights to the Fischell’s Brook salt dome and other strategic salt claims. These Atlas’s projects are in western Newfoundland.

Patrick J. Laracy, P.Geo, President is the qualified person responsible for the contents of this news release as defined in National Instrument 43-101.

We seek safe harbour.

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, P.Geo.


(709) 754-3186