April 3, 2008


Stock Symbol: TSX: VUL

Shares issued: 41,419,634


VULCAN MINERALS INC. � Options Kingurutik, Labrador Nickel Property to
Nortec Ventures Corp.


St. John's - Newfoundland - Vulcan Minerals Inc. ("the Company" TSX-V: VUL)
is pleased to announce that it has signed a letter agreement to option its
Kingurutik River nickel/copper prospect in northern Labrador to Nortec
Ventures Corp. (Nortec). Nortec will have the right to earn a 51% working
interest by incurring $1,500,000 of work expenditures and paying the company
$200,000 and 3,000,000 common shares over a four year option period. The
first year commitment includes an airborne magnetic and electro-magnetic
survey of the property. A $10,000 cash payment and 200,000 shares of Nortec
are payable upon TSX Venture Exchange approval of the agreement. Vulcan
will retain refund rights to staking deposits. If Nortec earns a 51%
working interest it will have a 90 day period to exercise a second option
whereby it can acquire a further 49% interest (total 100%) in the property
by issuing the company the greater of:
i) an amount of shares equal to 19.9% of Nortec�s fully
diluted share capital at the time of exercise of the option attributable to
the value of the Kingurutik property to Nortec�s total value; or,
ii) 9,000,000 additional shares.

In essence, the company will maintain at least a 19.9% indirect interest in
the property through equity ownership of Nortec rather than direct property
ownership if Nortec exercises its second option. The company shall also
retain a 10% net profits interest in all minerals produced from the property
convertible at any time to a 2% net smelter return royalty free and clear of
any predetermined payout purchase price. The letter agreement shall be
incorporated into a formal option agreement subject to TSX Venture Exchange
approval.

The Kingurutik River property covers 234 claims (approximately 15,000 acres)
of Nain Plutonic rocks approximately 90 kilometers northwest of the Voisey
Bay nickel, copper cobalt mine. Work on part of the property by a previous
operator included an airborne magnetic and frequency domain electromagnetic
survey in the mid 1990�s. That survey identified several co-incidental
magnetic and electro-magnetic anomalies with individual anomalies up to 800
metres in length. None of these anomalies have been drill tested.
Subsequent prospecting located extensive gossans within a mixed zone of
Tasiuyak gneiss, monzonite, anorthosite and gabbro. Gossanous zones
containing disseminated sulphides were heavily weathered and highly
altered to hematite and limonite inhibiting any sampling of fresh rock.

Numerous samples assayed anomalous nickel, copper and cobalt with assays up
to 0.11% copper. Some of the prospective geophysical anomalies and gossans
extended off the previous property boundaries and were therefore not
followed up. The Kingurutik property now includes the extension of these
anomalous trends and gossans and will be surveyed with airborne
magnetics/electromagnetics for the first time.

The property was staked by Vulcan in the Fall of 2007 during a staking rush
in the Kingurutik area created by recent drilling and prospecting
discoveries of nickel sulphides in the area. The property is immediately
west of the Celtic Minerals Kingurutik property where much of the renewed
interest in this area has been generated.

Nortec has advised the company that it has signed an agreement with Geotech
Ltd. (Geotech), an airborne geophysical company to acquire high resolution
magnetic and time domain deep penetrating electromagnetic data (�VTEM�) over
the property. That survey is planned to commence in April.

Tasisuak Lake � TL Property

Nortec also advises that Geotech will also carry out VTEM and magnetic
surveys during the same period on the Tasisuak Lake Nickel � Copper property
located approximately 50 kilometers northwest of Voisey Bay. This property
is under option to Nortec. The surveys will cover the entire licence area
and will assist in targeting potential magmatic Nickel � Copper massive
sulphide bodies at depth.

In 2005, Nortec tested five targets by drilling (Pond zone anomaly, West
anomaly, B1 anomaly, Goose Feather anomaly and the All-About-It East
anomaly). Significant results are from drill holes 44 and 54. Drill hole 54
returned from 5.5 metres to 13.8 metres (8.3 metres) of 0.84% Nickel and
0.37% Copper (including 5 metres of 1.19% Nickel and 0.53% Copper). Drill
hole 44 returned from 65.3 metres to 69.75 metres (4.45 metres) of 0.25%
Nickel and 0.08% Copper.

Bay St. George - Investcan

Further to the news release of February 28, 2008, the company has received
TSX Venture Exchange approval, subject to closing, for the proposed
strategic joint venture with Investcan Energy Corporation on the company�s
Bay St. George onshore petroleum permits. Both companies are working
diligently to close the transaction before month end.

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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