Vulcan Minerals Inc.

Vulcan Minerals Inc.

December 20, 2007 14:50 ET

Vulcan Minerals Inc: NWest/Trilogy Transaction and $10,000,000 Financing Closes

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Dec. 20, 2007) - Vulcan Minerals Inc. ("the Company") (TSX VENTURE:VUL) announces that it has been advised by NWest Energy Inc., (NWest), a related company, that NWest has been acquired by Trilogy Metals Inc., (Trilogy), and that Trilogy has completed a $10,000,000.00 financing through the issuance of 12,355,287 subscription receipts and 6,949,741 flow-through subscription receipts as per terms described in a December 11, 2007, news release. Proceeds from the financing will be used in the exploration for petroleum on NWest's offshore exploration licenses in Western Newfoundland. As a result of the acquisition and Vulcan's subscription of 161,313 subscription units, Vulcan owns 14,411,313 shares amounting to 17.2% of the outstanding shares (83,610,674) in Trilogy. Trilogy will be seeking shareholder approval for a name change to NWest Energy Inc. at a special meeting of shareholders scheduled for February 8, 2008.

Vulcan was instrumental in the creation of NWest and its offshore Western Newfoundland petroleum exploration project. Through the dedicated commitment of its partners in NWest and GMP Securities LP, NWest has an excellent project, financing and a motivated management team led by Mr. Francois Gauthier to spearhead an exciting round of petroleum exploration on its under -explored offshore Western Newfoundland licenses. For further information on NWest please visit

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

Shares issued: 41,169,634

The TSX Venture Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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