Vulcan Minerals Inc. Grabs 8.5 grams per tonne Gold in Newfoundland - Seite 2

Patrick Laracy P. Geo., President notes “ This zone appears to have had more than one episode of quartz veining all of which were observed to be sulphide bearing to varying degrees. Given the elevated gold assays from cursory historic work, we hope to confirm that the system is gold bearing. This will encourage an intensive evaluation of this mineralized zone. We have found no reported trenching or drilling in government assessment files for this zone.”

In addition the property contains a portion of a significant gold in till anomaly along its western boundary where numerous till samples have assayed in excess of 1000 parts per billion (ppb) gold (equivalent to 1 g/t gold) and up to 27,000 ppb gold on the adjacent property and up to 2000 ppb gold on Vulcan’s property. Further sampling will be required to better delineate the nature of these anomalies. The location of the claims may become strategic as work is reasonably anticipated on the immediately adjacent property where much of the historic work was focussed.

Gander South

The Gander South property is situated 8 km from the Beaver Brook Antimony mine along the Dog Bay Line suture which hosts gold showings along trend. The property contains an unevaluated gold and arsenic stream silt anomaly in a favorable structural setting. Recently, Newfound Gold Corp. (news release dated August 27 2020) announced a new gold discovery at the Eastern Pond prospect based on sub crop samples of up to 15 g/t gold and tills containing up to 216 gold grains, part of an area currently outlined over a 4 km strike length. This new discovery is 45 km south of Newfound’s Queensway North discovery which is the focus of current drilling. The company’s Gander South property is approximately 5 kms northwest of the Eastern Pond discovery and is the closest claim group to the discovery other than claims owned by Newfound Gold.

Exploration Plan

The company has mobilized a geological crew to the Springdale and Gander properties to further prospect and acquire soil samples in proximity to the known showings. The company expects that these field programs will continue to the end of November. Based on the results of this work, further action will be determined. The recent $1,000,000 financing by the Company will facilitate the exploration of these projects. All properties are road and trail accessible. An updated slide presentation regarding Vulcan’s projects and providing context for the discussions herein is available on its website at www.vulcanminerals.ca