Vulcan Minerals Inc. – Exploration Update
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
News Release
April 17, 2023
Vulcan Minerals Inc. – Exploration Update
St. John’s, Newfoundland and Labrador - Vulcan Minerals Inc. (“the Company” -
“Vulcan” TSX-V: VUL), is pleased to provide an exploration update on its activities
in Newfoundland and Labrador as follows:
Highlights:
- Vulcan has exposure to mineral exploration and development on 1 44,550
hectares
- Soil sampling at the Springdale Project identifie d a very anomalous gold
trend at Pine Pond with results up to 1.5 grams per tonne(g/t)
- Company looks forward to an active exploration season in 2023
Direct Ownership
Vulcan owns a 100 % interest in 1,463 mineral clams covering 36,575 hectares as
indicated below:
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
Vulcan Minerals Projects
Colchester VMS Cu-Au & Springdale-Au
Claims Hectares
273 6,825
Red Cross Lake Magmatic Ni-Cu-Au
Claims Hectares
122 3,050
Carbonear SEDEX Pb-Zn-Co-Au
Claims Hectares
812 20,300
Voisey's Bay West Ni-Cu-Co
Claims Hectares
256 6,400
Total: 1,463 36,575
The priority for 2023 field work will focus on the Colchester – Springdale project
where further geochemical work and drilling is planned (see below).
The Carbonear project is an expansive claim position focussed on sedimentary
exhalative zinc – lead potential in an area with geologic attributes similar to the
giant Sullivan zinc-lead mine in British Columbia. Significant unexplained gold and
other metallic geochemical signatures are also present in the historic data. The
company will finish an extensive soil geochemical program initiated last year which
will provide direction for further ground work.
Carried Interests
Vulcan has carried interests in excess of 107,795 additional hectares by way of
option agreements, royalties and equity ownership in active explorers , most
notably as follows:
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
Optioned Properties + Royalties
Atlas Salt Inc. - 31.2% Ownership + Royalty
Claims Hectares
321 8,025
Triple Point Resources Ltd.- Salt-Energy Storage
7.5% Ownership + Royalty
Claims Hectares
904 22,600
Rocky Island Gold Corp. - Au - Royalty
Claims Hectares
2,440 61,000
Gander Gold Corp. - Au- Option Agreement
Claims Hectares
624 15,600
Fjordland Exploration Inc. - Ni-Cu-Co
Option Agreement
Claims Hectares
30 750
Total: 4,319 107,975
These projects provide the Company with diverse exposure to varying stages of
exploration and development , ranging from gold exploration in the emerging
Gander Gold Belt to the development of the Great Atlantic Salt deposit in western
Newfoundland by Atlas Salt, a related company. All of these projects have the
potential to further materially impact the value of the company. A map of Vulcan’s
interests can be found at www.vulcanminerals.ca and here.
Springdale Gold
In late 2022, 457 soil samples were taken over the Pine Pond grid where two
regional faults intersect along an oblique splay structure. This area has potential for
orogenic gold in quartz veins and copper/gold mineralization. The Maple Leaf
showing occurs approximately 4 km along strike where quartz veins have yielded
up to 54 g/t gold with associated heavy mineral samples yielding up to 840 g/t gold
from historic sampling by Noranda. A grid over the Maple Leaf showing was
partially sampled in late 2022 and will be completed as soon as ground conditions
allow. The Pine Pond grid delivered highly anomalous gold values with 10 soil
samples assay ing greater than 100 parts per billion (ppb) gold with the highest
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
sample yielding 1540 ppb (1.54 g/t gold). A map of the soil results can be found at
www.vulcanminerals.ca and here.
The grid runs along the east side of the Springdale highway with good access for an
aggressive exploration program of further soil sampling, mapping, trenching and
drilling in 2023.
President Patrick Laracy commented “The Springdale/Colchester area is well
endowed with numerous gold showings which are underexplored. Given the high
grade nature of the historic showings, combined with the very impressive gold in
soil anomalies identified in our current program, we are excited about the
prospects for the area as we systemically generate results in 2023.”
About Vulcan
Vulcan Minerals is a precious and base metals exploration company based in St.
John's NL, with strategic land positions in multiple active Newfoundland gold
exploration and development belts . The Company has leveraged its exploration
exposure in most of this land position through equity ownership of other explorers
obtained by way of option and royalty agreements. It also holds 3 1.2% of the
outstanding shares in Atlas Salt (TSXV: SALT). Atlas Salt is nearing completion of a
feasibility analysis on its Great Atlantic salt deposit in western Newfoundland
strategically located in the robust road de-icing market of eastern North America.
Patrick J. Laracy, P. Geo. President, is the qualified person responsible for the
technical contents of this news release as defined in National Instrument 43-101.
We seek safe harbour.
For information please contact:
Patrick J. Laracy, P .Geo.
President
(709) 754-3186
www.vulcanminerals.ca
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is 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 have 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.