Vulcan Minerals Inc. - Seismic Program Completed

Vulcan Minerals - January 28, 2002

St. Johns - Newfoundland - Vulcan Minerals Inc. (the Company" CDNX: VUL) announces that 19 kilometers of new seismic data has been acquired on the Flat Bay 96-105 petroleum permit in Western Newfoundland. The final data should be forwarded to the company from the contractor shortly. The company shall then arrange for processing and interpretation of the new data, which should provide new drill targets and an improved understanding of the subsurface geology and petroleum prospects on the permit. The company is presently drilling the Captain Cook #1 well to test a Carboniferous aged target. The combined drill results, new seismic and existing seismic will provide the company with a much clearer understanding of the petroleum potential of the permit.

The company announces that the Canadian Venture Exchange has accepted for filing all documentation in respect to a non-brokered private placement of 200,000 shares announced on December 12, 2001. The shares are subject to a one-year hold. Proceeds were used for the acquisition of the new seismic data as described above. As well the company advises that it has relinquished exploration license 1038 in the offshore Western Newfoundland area. The company maintains its interest in exploration licenses 1036 and 1037 covering approximately 580,000 acres. The company continues to seek joint venture partners to advance exploration on these licenses.

For information please contact Mr. Patrick Laracy, President of Vulcan Minerals Inc. at
Phone: (709) 754-3186, Fax: (709) 754﷓3946 or Email: info@vulcanminerals.ca