Vulcan Minerals Inc.

Vulcan Minerals Inc.

December 24, 2008 09:57 ET

Vulcan Closes Private Placement

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Dec. 24, 2008) - Vulcan Minerals Inc. ("the Company") (TSX VENTURE:VUL) is pleased to announce that it has closed the non-brokered private placement of 640,000 flow-through common shares, subject to a 4-month hold period at a price of $0.25 per share for proceeds of $160,000 as announced on December 19, 2008. The funds will be used in the company's ongoing exploration activities in western Newfoundland. No finders fee or commissions are payable. This placement is subject to final TSX Venture Exchange approval.

Vulcan is a diversified junior exploration company focussed on petroleum exploration in the under-explored Western Newfoundland and Labrador area 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: 43,589,301

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