Vulcan Minerals Inc.

Vulcan Minerals Inc.

February 12, 2010 10:06 ET

Vulcan Minerals Inc.: Parsons Pond Transaction

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Feb. 12, 2010) - Vulcan Minerals Inc. ("the Company")(TSX VENTURE:VUL) is pleased to announce that it has entered into an agreement to transfer a 5.98% working interest in exploration permit 03-101 to Investcan Energy Corporation for cash consideration of $500,000 subject to certain closing conditions. Permit 03-101 is situated near Parsons Pond, onshore western Newfoundland. Vulcan currently owns an 18.57% working interest in this permit and as a result of the transfer will retain a 12.59% working interest in the permit. The Company's working interest of 10% in exploration permit 03-103 and 7.39% in exploration permit 03-102 will remain unchanged. The Company has a 10% working interest in Seamus #1, which will commence drilling on permit 03-103 in the next few days. (See News Release 2010-01-28).

The Company will provide an update on its Bay St. George project in the next several days.

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. 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

Shares Issued: 47,584,455

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