Vulcan Minerals Inc. – Drilling Commences at Colchester, Newfoundland - Seite 2

The Maple Leaf showing occurs approximately 4 km along strike where quartz veins have yielded up to 54 g/t gold with associated heavy mineral concentrate stream samples yielding up to 840 g/t gold from historic sampling by Noranda. A grid over the Maple Leaf showing was partially sampled in late 2022 and has now been completed with a total of 454 soil samples taken.

In addition, a third grid has been added at Western Brook where reconnaissance historic results indicate gold anomalies in soil and stream sediments. A total of 492 soil samples have been taken focussing on favorable geologic structures.

All samples have been dispatched to SGS Canada’s laboratory for processing and analysis. Results will direct future prospecting, trenching and other follow up work.
A map outlining the areas of interest is available here.

Carbonear SEDEX Base Metals and Gold

The Carbonear project is an early stage exploration venture designed to evaluate the sedimentary exhalative zinc – lead (SEDEX) potential in an area with geologic attributes similar to other major SEDEX deposits worldwide. These attributes include a late Precambrian clastic sedimentary basin sequence of black shale/siltstone/sandstone containing substantial turbidite sequences containing lead and zinc mineralization. Significant unexplained gold and other poly-metallic geochemical signatures are also present in the historic data which require explanation.

The company is in the process of completing an extensive soil geochemical program which was initiated in 2022. As of July 21, 2023, a total of 1303 samples have been collected, primarily focussed along a magnetically anomalous zone in favourable structure as identified from high resolution airborne magnetic and LIDAR surveys completed by the company in 2022. All samples have been shipped to SGS Canada's laboratory for analysis.

President Patrick Laracy commented “The Colchester/Springdale area presents several copper and gold exploration and delineation targets. The current drill program and geochemical surveying will add significant new knowledge about the potential of this area to host economic deposits. This is the core exploration project for our company as we systemically generate results in 2023.”

About Vulcan

Vulcan Minerals is a precious and base metals exploration company based in St. John's NL, with strategic land positions in multiple active Newfoundland gold exploration and development belts. The Company has leveraged its exploration exposure in most of this land position through equity ownership of other explorers obtained by way of option and royalty agreements. It also holds approximately 30.5% of the outstanding shares in Atlas Salt (TSXV: SALT). Atlas Salt is nearing completion of a feasibility analysis on its Great Atlantic salt deposit in western Newfoundland strategically located in the robust road de-icing market of eastern North America.