November 23, 2021

St. John’s, Newfoundland and Labrador – Vulcan Minerals Inc. (“the Company” – “Vulcan” TSX-V: VUL), is pleased to announce completion of its drilling program at its 100% owned Colchester copper/gold project in Newfoundland. A total of 1511 meters were drilled over 8 scout holes testing a variety of targets within mafic volcanic sequences. One hole was drilled to test the western flank of the historic Colchester deposit. Three holes tested the central portion of the underexplored McNeilly zone while four holes tested induced polarization (IP) anomalies on the new Andrews Pit area. Several stringer and disseminated sulfide zones were encountered containing chalcopyrite with variable associations of pyrite, pyrrhotite and sphalerite, the significance of which won’t be known until assays are received.

Patrick Laracy, President, remarked “Our drilling program 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 program was successful in intersecting copper sulphide zones visually similar to the stringer zones historically encountered in the Colchester area. The results will assist in calibrating the new data to historic mineral occurrences.  We believe this project has the potential to add significant tonnage to the historically reported resources.  As well, we look forward to expanding the program in 2022 to further investigate the underexplored gold occurrences within the larger Springdale property area.”

The Colchester project 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. The Springdale property is road accessible and near significant mining services including drilling companies, field services and an analytical laboratory.

A review of the relevant data with maps is available in the corporate presentation at the company’s website landing page, Maritime Resources Corp. is currently redeveloping the Hammerdown gold mine approximately 5 kilometers southwest of the Springdale property.

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 technical 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