June 8, 2010
Stock Symbol: TSX.V:VUL
Shares Issued: 54,461,241
Vulcan Minerals Inc. (?the Company? TSX-V: VUL) is pleased to report that final planning and procurement are underway to complete and test the Robinsons #1 and Red Brook #2 wells in western Newfoundland. Field operations are scheduled to commence in July.
Based on petrophysical analysis, three zones, A, C and D have been initially prioritized for evaluation in Red Brook #2. Further zones exist in the well, which based on the initial tests, may also warrant further evaluation. Zones A, C and D are relatively low porosity/permeability sandstones of 105 metres, 18 metres and 41 metres respectively in thickness. Zones D and C flowed gas on drill stem tests. Zone A was not tested at that time. It is a thick sand which will be perforated to determine if it is gas or water bearing. A minimum of two of the three zones will be hydraulically fracture stimulated which will allow reservoir fluids to enter the well from beyond any near well bore reservoir damage created during drilling. This should provide reliable flow test results for the respective zones.
At Robinsons #1 a long interval over 157 metres will be perforated with a deep penetrating procedure to access multiple sands over the interval in order to acquire reservoir pressure and fluids. The upper part of the interval will be hydraulically fractured and flow tested. A second zone will also be fractured and tested. Robinson #1 contains many low porosity/permeability sandstones over a gross interval exceeding 1200 metres. The purpose of the current program is to test the lower zones which will allow for additional testing of the upper zones at some future date.
All of the necessary services to carry out the operations have to be mobilized to the site from out of the province. The company is currently finalizing service contracts and co-ordinating the operational schedule which is anticipated to entail field work over the course of three months.
This testing program is the culmination of a major wildcat drilling program in the Bay St. George Basin carried out by a 50/50 joint venture with Investcan Energy Corporation. These results, combined with additional delineation drilling, will provide the necessary information to support a resource and reserve assessment for the southern portion of the Bay St. George permits.
Vulcan is a diversified junior exploration company focused on petroleum exploration in the under-explored western Newfoundland and Labrador areas and also holds mineral interests in areas strategic to its operations in Newfoundland and Labrador.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company?s expectations. Certain risk factors may also affect the actual results achieved by the Company.
There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For information please contact:
Patrick J. Laracy, President
Gerri A. MacNeil, Business Manager, Investor Relations
(709) 754-3186
info@vulcanminerals.ca
www.vulcanminerals.ca