Vulcan Minerals Inc.

Vulcan Minerals Inc.

April 23, 2010 08:33 ET

Vulcan Minerals Inc.-Oil and Gas Exploration Update

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - April 23, 2010) - Vulcan Minerals Inc. ("the Company")(TSX VENTURE:VUL) is pleased to provide an update on its petroleum exploration projects onshore western Newfoundland as follows:

Parsons Pond - Oil Drilling

The Company reports that the Seamus #1 well is currently at a depth of 2300 metres, the intermediate casing point. The well has a projected depth of approximately 3000 metres. The company has a 10% non-operating participating working interest in the well. It is the first of a three well program planned for the Parsons Pond project which is a frontier light oil exploration venture.

Bay St. George – Gas Testing

The Company in conjunction with its joint venture partner Investcan Energy Corporation is finalizing its planned completion, stimulation and flow testing program for the Red Brook #2 and Robinsons #1 wells. It is expected that the field operations will be conducted this summer as originally scheduled. In addition, the Company has laid out a seismic program and initiated the permitting process in order to further define the Jockey structure in the southern part of the permit area and several other leads. Again, this is planned to be a summer program. Continued seismic acquisition is part of the joint venture's ongoing objective to fully evaluate the Bay St. George exploration permits which cover an area of approximately 250,000 acres.

Vulcan is a diversified junior exploration company focused on petroleum exploration in the under-explored western Newfoundland and Labrador areas and holds mineral interests in areas strategic to its operations in Newfoundland and Labrador. This includes an approximate 19% shareholding in NWest Energy Inc., which owns 1.5 million acres of the offshore immediately adjacent to Vulcan's onshore Parsons Pond project. 

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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