Vulcan Minerals Inc.
TSX VENTURE : VUL

Vulcan Minerals Inc.

October 15, 2009 09:25 ET

Vulcan Cases Robinsons#1 for Further Testing

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Oct. 15, 2009) - Vulcan Minerals Inc. ("the Company") (TSX VENTURE:VUL) is pleased to announce that it is running production casing to total depth in the Robinson's #1 well. The well encountered natural gas shows over a gross interval of approximately 1290 metres (net approximately 20% sandstone) with very good correlation of increased shows with sandstone beds. This is the first deep well in the Bay St. George basin and has proven the existence of a thick natural gas charged section. Three drill stem tests were attempted on different sands within the main hole section. Only one test was mechanically successful but did not flow hydrocarbons to surface though gas was recovered in the testing tool. The zone did not produce any water. Based on pressure build up the zones tested appear to have low permeability and well bore damage which will require hydraulic fracture stimulation in order to properly test flow rates. The Company, along with its joint venture partner, Investcan Energy Corporation, have decided to case the well for further testing and allow the drill rig to move to the next location. This evaluation of the well data is currently underway and testing will occur after the current exploratory drilling program is completed. This current program involves the drilling of Red Brook #2 and a third location. The rig is expected to move from Robinson's to Red Brook by the end of the week. Red Brook #2 is a separate structure from Robinson's. It has a projected total depth of 2200 metres and will test Lower Carboniferous sandstones beneath an evaporite (salt) sequence. This play has never been drilled along the western flank of the Flay Bay anticline. The Flay Bay oil deposit exists in a similar setting at the north end of the Flat Bay anticline. As well, a gas zone was encountered in a mining hole, (in a salt sequence) approximately 1.5 kilometres to the southwest of Red Brook #2.

The Company owns a minority interest (approximately average 12%) in three petroleum permits at Parsons Pond in western Newfoundland. The operator, Nalcor Energy, has indicated that it wishes to proceed with a three well program commencing prior to year end. The Parsons Pond area is known historically for numerous light oil seeps at surface and in shallow drill holes. Modern seismic data indicates that large oil targets are deeper than the historic drilling and occur at depths greater than 2500 metres. The proposed drill program will test these oil targets for the first time.

Patrick Laracy, President of Vulcan Minerals Inc. stated, "We are very encouraged with the initial results of Robinson's #1. Combined with previous exploration in the basin, it is now evident that there is an extensive hydrocarbon system in the basin including oil at Flat Bay and gas at Robinson's. The thickness of the gas charged sequence at Robinson's is impressive and warrants an extensive evaluation program. The magnitude of the petroleum system bodes well for the Company's current ongoing drill program. Combined with our participation in the Parson's Pond three well drilling project, we will be participating in up to six wells, the most drilling ever undertaken in western Newfoundland in such a relatively short period of time. All of these wells present frontier scale discovery opportunities."

Vulcan is a diversified junior exploration company focused on petroleum exploration in the under-explored Western Newfoundland and Labrador areas and also holds mineral interests in areas strategic to its operations in Newfoundland and Labrador.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise

Shares Issued: 44,562,301

Contact Information