Stock Symbol: TSX: VUL

Shares issued: 41,647,634


VULCAN MINERALS INC. � Announces $1,000,000 Financing


St. John's - Newfoundland - Vulcan Minerals Inc. ("the Company" TSX-V: VUL)
proposes to carry out a non-brokered private placement for proceeds of up to
$1,000,000 by issuance of units at a price of $0.60 per unit, each unit
consisting of one common share and one-half of a share purchase warrant.
Each whole share purchase warrant will entitle the owner to purchase one
common share of the company at $0.80 for a period of one year following the
closing date. The proceeds of the offering will be used primarily for
working capital with an allocation made towards an evaluation of the company
�s potash and salt resource in western Newfoundland. Securities issued by
way of the offering will be subject to a four month hold period. The
company has agreed to pay a finder�s fee to PowerOne Capital Markets Limited
which shall consist of a cash payment equal to 7% of the gross proceeds of
the offering and warrants equal in number to 7% of the units sold in the
offering to subscribers located by the finder. Each finder�s warrant shall
be exercisable into one common share at a price of $0.80 for a period of one
year after the closing date. The private placement is subject to approval
of the TSX Venture Exchange.

The company also announces that an �escrow closing� of its agreement with
Investcan Energy Corp. announced on February 28, 2008 has occurred. Final
closing is subject to approval by the Minister of Natural Resources of the
Province of Newfoundland and Labrador of the transfer of certain interests
in the petroleum permits located onshore in the Bay St. George basin,
western Newfoundland. The company has also received TSX Venture Exchange
approval of the acquisition of gross-overriding royalties announced on
February 28, 2008.

Vulcan is a diversified junior exploration company focussed on petroleum
exploration in the under-explored Western Newfoundland area and also holds
mineral interests in areas strategic to its operations in Newfoundland and
Labrador.


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, Website: www.vulcanminerals.ca


The TSX Venture Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

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