Vulcan Minerals Inc. provided the following exploration update on its 100% owned Colchester/Springdale and Red Cross Lake projects in central Newfoundland. Further to our ongoing work on this project, the Company has commenced an Induced Polarization (IP) survey at the McNeilly zone where the Company has had recent drilling success in expanding the volcanic massive sulphide copper-gold deposit (see news January 12, 2024). Previous IP surveys by the Company and historic operators have shown a positive correlation to copper zones.

McNeilly appears to exhibit more than one copper zone based on recent drilling in 2023. This survey will help distinguish the trend of these zones. The survey will tie into a previous IP survey on the Colchester main deposit to the north and help establish the relationship between the two deposits.

The survey consists of 20 line kilometers and will assist in directing further drilling. The Company wishes to acknowledge the financial support of the Junior Exploration Assistance Program and the Provincial Critical Mineral Assistance Program administered by the Dept of Industry, Energy and Technology of NL in the amount of a $150,000 grant towards exploration work carried out in 2023 on the Colchester/Springdale project. Red Cross Lake (Nickel-Copper): As part of a proposed exploration program at Red Cross Lake, the Company applied for environmental approval for a river crossing at the outflow of Red Cross Lake to permit access for exploration and drilling activities.

The project was registered with the NL Dept of Environment and Climate Change on May 09, 2024 and released from further review with conditions on June 20, 2024.