Vulcan Minerals Inc.

Vulcan Minerals Inc.

March 12, 2009 15:40 ET

Vulcan Minerals Inc.: Flat Bay Coring Encounters Oil

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - March 12, 2009) - Vulcan Minerals Inc. ("the Company") (TSX VENTURE:VUL) announces that in conjunction with its joint venture partner Investcan Energy Corporation it has completed the two hole coring program at its Flat Bay shallow oil deposit in western Newfoundland. Both holes encountered the oil bearing formation as follows:

Top depth Gross Net Interval Total Vertical
Interval Oil in Core Depth of Hole
Test Hole #2 98m 53m 16m 151m
Test Hole #3 140m 36m 15m 176m

The program was designed to test for fracture zones within the upper section of the oil bearing Fischell's Brook Formation which could enhance permeability and flow transmissibility from an otherwise low porosity/permeability reservoir. Representative sections from both holes have been shipped to an analytical laboratory to measure reservoir characteristics. This information will be integrated into the company's ongoing evaluation of the Flat Bay oil deposit. Neither hole penetrated to the base of the Fischell's Brook Formation nor was that the intention. Therefore the gross formation thickness that could contain petroleum may exceed the gross intervals penetrated in the current program. Future work will probably include further core hole testing to determine if economic quantities of oil are available in reservoir quality rock.

Vulcan is a diversified junior exploration company focussed on petroleum exploration in the under-explored Western Newfoundland 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.

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