VULCAN MINERALS - TL PROPERTY UPDATE

Announcing the results of the UTEM survey carried out on the TL Property in Labrador.

St. Johns - Newfoundland - Vulcan Minerals Inc. (the Company" CDNX: VUL) announces that it has received the results of the UTEM survey carried out on the TL Property in Labrador by Falconbridge Limited. The TL Property is a nickel (Ni)-copper (Cu)-cobalt (Co)-PGE prospect approximately 50 km northwest of the Voiseys Bay Ni-Cu-Co deposit. Drilling by a previous operator intersected several mineralized zones including 23.7 metres of 0.47% Ni, 0.16% Cu and 0.02% Co including 5.2 metres (16-21.2 m depth) of 1.15% Ni, 0.42% Cu, 0.04% Co, 0.25 grams/tonne palladium and 0.11 grams/tonne platinum.

The UTEM survey identified seven conductors, one of which (C-5) is very conductive and coincides with a magnetic anomaly. It extends the length of the survey grid, approximately 1.8 km. The other conductors are weaker. C-5 lies approximately 400 metres east of the area where previous drilling intersected the best mineralization. However, Falconbridge has indicated to the company that the UTEM survey did not meet their expectations and that they are dropping their option on the property; formal written termination to be provided next week.

Upon receipt of formal written termination Vulcan Minerals Inc. will own the property 100% without any outstanding option rights. The company will immediately seek another partner to explore the property. The company believes that C-5 and other anomalies require further drill testing in light of the interpretation that the significant nickel-copper mineralization identified thus far is contained in Nain Plutonic rocks intruded into Tasiuyak gneiss. Our website (www.vulcanminerals.ca) contains a compilation map highlighting the better drill intersections. A new map showing the results of the UTEM survey will be posted shortly. Recent staking of claims in the Voiseys Bay area by other explorers indicates a resurgence of interest in the region. The company is well positioned with the TL property to see additional exploration of this prospect.