Shares issued: 54,461,241 Vulcan Minerals Inc. – Financing Announced St. John’s - Newfoundland - Vulcan Minerals Inc. (“the Company” TSX-V: VUL) is pleased to announce

…exploring for petroleum and minerals in Canada… Searching new areas for large deposits…

NEWS RELEASE

December 9, 2010

Stock Symbol: TSX: VUL Shares issued: 54,461,241

Vulcan Minerals Inc. – Financing Announced

St. John’s - Newfoundland - Vulcan Minerals Inc. (“the Company” TSX-V: VUL) is pleased to announce that it proposes to carry out a non-brokered private placement for proceeds of up to $300,000 by issuance of up to 666,667 Flow-Through Shares at a price of $0.45 per share. The proceeds of the offering will be used to fund exploration activities in western Newfoundland. The shares issued will have a four month hold period as per applicable securities law. The company has agreed to pay a finder's fee equal to 3% of the gross proceeds of the offering. The financing is subject to TSX Venture Exchange approval. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

For information please contact:

Patrick J. Laracy, President Gerri A. MacNeil, Business Manager, Investor Relations (709) 754-3186 [email protected] www.vulcanminerals.ca

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