Vulcan Minerals Acquires Newfoundland Gold

Pleased to announce the staking of the Little River Gold property in Central Newfoundland, Canada. Also, the company will be exhibiting at the Prospectors and Developers Convention in Toronto, March 10th-13th, 2002 (Booth # 2709).

St. Johns - Newfoundland - Vulcan Minerals Inc. (the Company" CDNX: VUL) is pleased to announce it has acquired by staking the Little River Gold property in Central Newfoundland. The property covers a 20 km belt of Ordovician aged volcano sedimentary rocks hosting significant gold zones. The property is located near the crustal boundary of the Gander and Avalon zones of the Newfoundland Appalachian orogen. Mineralization is contained in the Isle Galet Formation consisting of tuffaceous volcanics and sediments. The formation has been subjected to extensive alteration consisting of carbonates, chlorite, sericite, limonite, antimony oxides and silicification. Drilling by a previous operator in the Wolf Pond zone encountered mineralization up to 8.2 metres in width grading 2.38 grams/tonne gold. Grab samples from the Bowers Tickle and Long Jacks Bight showings have reported up to 12.3 grams/tonne gold and 13.7 grams/tonne gold respectively. Mineralization occurs as both disseminated sulphides of pyrrhotite-pyrite-arsenopyrite-chalcopyrite in carbonate alteration as well as in quartz-antimony veins. The property hosts potential for both stratabound volcanogenic gold and epithermal gold. Several gold in soil anomalies and showings remain unexplored. Vulcan is in the process of compiling all existing information on the property towards planning a summer field program and attracting a partner to finance exploration of the property.

The company will be exhibiting at the Prospectors and Developers Convention in Toronto, March 10th to 13th; Investors Exchange Booth 2709. Convention delegates are invited to drop by our booth.