June 5, 2009
Stock Symbol: TSX.V:VUL
Shares Issued: 44,554,301
Vulcan Minerals Inc. – Rig Update
Vulcan Minerals Inc. (“the Company” TSX-V: VUL) is
pleased to announce that the drilling rig contracted for its program in western
Newfoundland has been moved from Oklahoma to the port of Houston, Texas. The rig will be moved by ship from Houston to Stephenville,
Newfoundland with an estimated
time of arrival in late June. Drilling
at the Robinsons #1 site will commence shortly thereafter. The current frontier drilling program is
funded by a joint venture with Investcan Energy
Corporation. It will consist of the
Robinsons #1 well to a planned depth of 3600 metres plus up to
two additional wells over a period of 5-6 months.
The Company also announces that it has
transferred at cost an 8% working interest in Parson’s Pond Petroleum
Exploration Permits 03-101, 03-102, and 03-103 in western Newfoundland
to Investcan Energy Corporation as well as a right of
first refusal on an additional 2% working interest in each of the three permits
currently held by a third party private company. The Company retains the following working interest
in the exploration permits:18.57% in 03-101, 7.39% in
03-102 and 10% in 03-103. The Company
plans to participate in any drilling that may occur on these permits. The operator is currently seeking financing
and permitting approval for a drill program.
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.
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 Mr. Patrick Laracy,
President of Vulcan Minerals Inc. at:
Phone: (709) 754-3186
Fax: (709) 754‑3946
Email:
info@vulcanminerals.ca,
Website: www.vulcanminerals.ca