Vulcan Minerals Inc. – Acquires Claims at Red Cross Lake Nickel - Gold Project
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
June 1, 2022
Vulcan Minerals Inc. – Acquires Claims at Red Cross Lake
Nickel - Gold Project
St. John’s, Newfoundland and Labrador - Vulcan Minerals Inc. (“the Company” -
“Vulcan” TSX-V: VUL) announces that it has purchased a 100% interest in twenty
(20) mineral claims from a prospector at Red Cross Lake in central Newfoundland.
These claims are adjacent to the Company’s existing Red Cr oss Lake property and
were covered by the Company’s 2021 airborne VTEM plus time -domain EM and
magnetic survey (flown by Geotech).
The acquisition cost for the claims is $10,000 cash and 100,000 common shares
subject to TSX Venture Exchange approval. The vendor retains a 1% net smelter
returns royalty over which the Company has complete buy back rights.
The Red Cross Lake property covers a trans -tensional zone within a flexure on the
Valentine Lake fault containing a mafic/ultramafic intrusion. The VTEM survey was
designed to test for the geophysical signature of a magmatic nickel-copper deposit
and secondly to delineate detailed structure and geology to direct gold exploration
immediately offsetting Marathon Gold Corp’s claims to the west where a gold mine
is currently under development. Further details regarding the geophysical
interpretation of this area will be forthcoming.
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.
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
About Vulcan
Vulcan Minerals is a precious and base metals exploration company based in St.
John’s Newfoundland. The company has strategic land positions in multiple active
Newfoundland gold and base metal exploration and development belts. It also
holds approximately 36% of the shares in Atlas Salt Inc. (TSXV: SALT) . Atlas Salt is
an industrial minerals company that is carrying out a feasibility analysis on its Great
Atlantic Salt deposit.
We seek safe harbour.
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release. This release may contain certain forward-
looking statements. Actual events or results may differ from the Company’s
expectations. Certain risk factors beyond the Company’s control ma y affect the
actual results achieved. Accordingly, readers are advised not to place undue
reliance on forward-looking information. Except by law, the Company undertakes
no obligation to publicly update or revise forward-looking information.
For information please contact:
Patrick J. Laracy, P .Geo.
President
(709) 754-3186
www.vulcanminerals.ca