Vulcan Minerals Inc.

Vulcan Minerals Inc.

October 23, 2009 07:53 ET

Vulcan Minerals Inc.-Commences Red Brook #2 Well

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Oct. 23, 2009) - Vulcan Minerals Inc. ("the Company") (TSX VENTURE:VUL) is pleased to announce that the Robinsons #1 well in western Newfoundland has been cased to a total depth of 3560 metres and suspended pending further evaluation. The Stoneham Rig 11 has moved to the Vulcan-Investcan Red Brook #2 location and drilling has commenced. Red Brook #2 has a projected total depth of 2200 metres and will test lower Carboniferous sandstones beneath an evaporite (salt) sequence. The well is being drilled pursuant to a 50/50 joint venture agreement with Investcan Energy Corporation. This is a frontier wildcat well and, as such, total depth could vary materially from the projected depth depending on results. The well is intended to test a flank play along the western margin of the Flat Bay Anticline. The Flat Bay Anticline is mapped at surface over a 20km strike length. A series of schematic diagrams will be posted on the website under the "Projects" link that illustrates the play along with well locations in the basin. This is the second well of a planned three well exploratory program in the Bay St. George basin. Regular operational updates will be provided but results will only be released after the necessary evaluations are completed. Combined with a planned three well program at Parsons Pond in western Newfoundland (approximate 12% average net interest) the Company is engaged in the most exploratory drilling ever carried out in the western Newfoundland basins. Each well presents the opportunity for a frontier scale hydrocarbon discovery.

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

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