Vulcan Minerals Inc. – Drilling to Resume at Carbonear Zinc-Lead SEDEX project in Newfoundland
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186, Email: [email protected], Website: www.vulcanminerals.ca
News Release
June 02, 2026
Vulcan Minerals Inc. – Drilling to Resume at Carbonear Zinc-Lead SEDEX project
in Newfoundland
St. John’s, Newfoundland and Labrador - Vulcan Minerals Inc. (“the Company” -
“Vulcan” TSX-V: VUL), announces that it has entered into a drilling contract to resume
drilling at the Carbonear Project in eastern Newfoundland. Drill mobilization is scheduled
for mid June. The initial program was planned for six holes, but due to weather -related
access issues the program was suspended this past winter after completion of one hole
CP-26-11. The remaining program will consist of five holes for approximately 1000
meters of diamond core drilling.
Assay results from hole CP-26-11 continue to provide encouragement for a potential
SEDEX type zinc deposit. Anomalous zinc and lead were encountered as follows:
0.113% zinc over 31.15 meters from interval 12.1m to 43.25m including 0.264% zinc and
0.101% lead over 7.5 meters from 28.5m to 36m. Full breakdown of these assay results
for both zinc and lead are posted on the website link https://vulcanminerals.ca/wp-
content/uploads/2026/06/CP-26-11-Pb-Zn-Table-for-NR-ver3-1.pdf
Patrick Laracy, President noted “ Hole CP-26-11 is primarily a stratigraphic hole in order
to better understand the sedimentary sequence in relation to its geophysical signature.
We are pleased to see anomalous zinc-lead mineralization associated with widespread
disseminated and fracture filling pyrrhotite and pyrite, minerals associated with Sedex
deposits. Though the results are not ore grade, they speak to the pervasive presence of
zinc and lead in the right prospective geological setting. The Carbonear property
represents an exciting grass roots exploration project and we look forward to completing
this early-stage drill program.”
Project Summary
The property contains a late Precambrian marine sedimentary sequence prospective for
sedimentary exhalative zinc, lead and other metals (SEDEX deposit) based on several
geological characteristics. These include the geologic setting within a thick sequence
(greater than 6km) of marine basinal shale, siltstone and sandstone including turbidite
deposits containing zinc and lead mineralization. Over the last few field seasons, the
Company has methodically acquired extensive geochemical soil data combined with
historic soils, stream and lake bottom sam ples to identify a multi -element anomaly
associated with a stratigraphic zone of d istinct magnetic character. This also coincides
with a gravity anomaly. The current focus is on a 2-kilometer section of the stratigraphic
zone of interest that extends greater than 12 kilometers along strike with an average width
of 1.5 kilometers. In a news release dated February 06, 2026 the Company described
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186, Email: [email protected], Website: www.vulcanminerals.ca
the previous work carried out on this property, providing context for the current drill
program.
The property was originally identified (1980) for its sedimentary exhalative base metal
potential by Cominco, who operated the giant Sullivan SEDEX mine in British Columbia,
one of the largest zinc-lead mines in the world.
JEA Assistance
The Company has applied for a provincially funded Junior Exploration Assistance (“JEA”)
grant for work on the Carbonear Project in 2026.
New Website
The Company is also pleased to announce the launch of a new website to better present
the Company’s exploration and corporate activities. The address remains the same
www.vulcanminerals.ca. The upgrade reflects our optimism for continued resurgence in
mineral exploration in Newfoundland and Labrador and for the unfolding development of
the Great Atlantic Salt mine in western Newfoundland by affiliated company, Atlas Salt
Inc. A new logo also reflects a new phase for the Company in its unwavering commitment
to resource exploration in Newfoundland and Labrador.
Quality Control
Vulcan used SGS Natural Resources (SGS) for all sample assaying in the drilling program
reported herein. SGS analytical laboratories operate under a Quality Management
System that complies with ISO/IEC 17025. Vulcan employed SGS’ four -acid
digestion/ICP-OES multi-element analysis package grouped with 30g, fire assay, AAS
finish for gold. A four-acid digestion/ICP-OES “ore-grade” analysis package is utilized for
base metals assaying greater than detection limits. Vulcan employed the use of standard
reference materials for quality control at a rate of 5% of total samples. SGS undertakes
their own internal coarse and pulp duplicate analysis to ensure proper sample preparation
and equipment calibration. Preliminary inspection of these control samples shows them
to be within the expected limits.
About Vulcan
Vulcan Minerals is a precious and base metals exploration company based in St. John’s
Newfoundland and Labrador. The Company has strategic land positions in multiple active
Newfoundland gold and base metal exploration and development belts. It also holds
approximately 26.52% of the shares in Atlas Salt Inc. (TSXV: SALT) . Atlas Salt is
currently developing the Great Atlantic Salt mine in western Newfoundland.
Patrick J. Laracy P.Geo ., President , is the qualified person who has reviewed and
approved the technical contents of this news release as defined in National Instrument
43-101.
We seek safe harbour.
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186, Email: [email protected], Website: www.vulcanminerals.ca
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defined in the Policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release. This press release includes certain “forward-looking
information” and “forward-looking statements” (collectively “forward-looking statements”)
within the meaning of applicable Canadian securities legislation. All statements, other than
statements of historical fact, included herein, without limitation, statements relating to the
future operating or financial performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as
“expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar
expressions, or statements that events, conditions, or results “will”, “may”, “could”, or
“should” occur or be achieved. Forward-looking statements in this press release relate to,
among other things: completion, delivery and timing of the referenced exploration program
and assumptions related thereto. Actual future results may differ materially. There can be
no assurance that such statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such statements. Forward-looking
statements reflect the beliefs, opinions and projections on the date the statements are made
and are based upon a number of assumptions and estimates that, while considered
reasonable by the respective parties, are inherently subject to significant business,
technical, economic, and competitive uncertainties and contingencies. Many factors, both
known and unknown, could cause actual results, performance or achievements to be
materially different from the results, performance or achievements that are or may be
expressed or implied by such forward -looking statements and the parties h ave made
assumptions and estimates based on or related to many of these factors. Such factors
include, without limitation: the timing, completion and delivery of the referenced
assessments and analysis. Readers should not place undue reliance on the forward-looking
statements and information contained in this news release concerning these times. Except
as required by law, the Company does not assume any obligation to update the forward-
looking statements of beliefs, opinions, projections, or other factors, should they change,
except as required by law.
For information please contact:
Patrick J. Laracy, P.Geo.
President
(709) 754-3186
www.vulcanminerals.ca