Vulcan Minerals Inc. – Exploration Update on Colchester/Springdale and Red Cross Lake projects in Newfoundland
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
July 10, 2024
Vulcan Minerals Inc. – Exploration Update on Colchester/Springdale and Red
Cross Lake projects in Newfoundland
St. John’s, Newfoundland and Labrador - Vulcan Minerals Inc. (“the Company” - “Vulcan” TSX-
V:VUL), is pleased to provide the following exploration update on its 100% owned
Colchester/Springdale and Red Cross Lake projects in central Newfoundland.
Highlights:
- IP survey underway at McNeilly zone
- Environmental Approval for Red Cross Lake access
Colchester Springdale (Copper-Gold)
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.
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
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.
President Patrick Laracy commented, “We are active on our 100% owned Newfoundland projects
as we add value to each of them notwithstanding the bear market conditions our industry is
currently experiencing. Value added today will be leveraged in more favorable markets in the
future. These projects are all road accessible resulting in very cost -effective exploration. We
plan to drill either the Colchester/Springdale project or Red Cross Lake this year. However, both
projects warrant drilling in due course.”
About Vulcan
Vulcan Minerals is a precious and base metals exploration company based in St. John's, NL. The
Company has strategic land positions in multiple active Newfoundland exploration and
development belts. The Company has leveraged its exploration exposure in much of this land
position through equity ownership of other explorers obtained by way of option and royalty
agreements. It also owns approximately 30 per cent 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.
For information please contact:
Patrick J. Laracy, P.G e o .
CEO and President
(709) 754-3186
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
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
“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.