Vulcan Minerals Inc. announced impressive copper - gold assay results from the McNeily drill program carried out in late 2023 as part of the Company?s Colchester project in central Newfoundland. Highlights are as follows: 15 meters of 1.21% copper and 0.51 grams per tonne gold including 6.75 meters of 2.38% copper and 1.01 grams per tonne gold in CL-23-13; 13.5 meters of 1.51% copper and 0.95 grams per tonne gold including 7.5 meters of 2.49% copper and 1.55 grams per tonne gold in CL-23-14. A total of 1,001 meters (m) were drilled over 6 holes within mafic volcanic rock sequences in the McNeily area.

Stringer, disseminated and locally semi - massive sulfide zones were encountered containing chalcopyrite with variable associations of pyrite, pyrrhotite and minor sphalerite. Mineralization is associated with chalcopyrite within sheared and chloritized mafic volcanic rocks. Quartz and quartz/carbonate veining is locally developed.

CL-23-13: Hole CL-23-13 was collared approximately 75 m south of CL-21-01 (Vulcan 2021 drill hole) and was drilled to a depth of 143.0 m. Notable intersections include 15.0 m of 1.21% Cu and 0.51 g/t Au from 8.0 m to 23.0 m including 6.75 m of 2.38 % Cu and 1.01 g/t Au from 11.0 m to 17.75 m. Within this interval one 1.5 m sample assayed 3.23% Cu and 1.15 g/t Au from 12.5 m to 14.0 m. CL-23-14: Hole CL-23-14 was collared approximately 50 metres north of CL-23-13 and was drilled to a depth of 131.0 m. Mineralization consists of disseminated and coarse stringer chalcopyrite and pyrite. Results include 26.0 m of 0.72% Cu and 0.9 g/t Au from 0 to 26.0 m including 4.5 m of 1.25% Cu and 0.19 g/t Au from 9.5 m to 14.0 m. The main mineralized interval in CL-23-14 includes 13.5 m of 1.51% Cu and 0.95 g/t Au from 48.5 m to 62.0 m including 7.5 m of 2.49% Cu and 1.55 g/t Au. One 1.5 m sample from 53.0 m to 54.5 m returned 4.85 % Cu and 3.56 g/t Au.

CL-23-09: Hole CL-23-09 was drilled to a depth of 209 m approximately 25 m across strike from a trenched area where the McNeily zone is exposed. Chalcopyrite is present as narrow stringers and disseminations. Notable intersections include 6.5 m of 0.45% Cu and 0.95 g/t Au from 24.0 m to 30.5 m including 2.5 m of 0.90% Cu and 1.94 g/t Au from 24.0 m to 26.5 m. CL-23-10: Stepping out 50 m southwest of CL-23-09, this hole was drilled to 161 m to test mineralization at depth beneath an exposed trench.

The main mineralized zone includes 5.0 m of 0.4% Cu from 35.0 to 40.0 m. A 1.8 m sample includes 2.71 g/t Au from 128 m to 129.8 m. CL-23-11: Hole CL-23-11 was collared 50 m southwest of CL-23-10 and drilled to a depth of 150 m. This hole was intended to test the extension of mineralization along strike of the exposed trench mineralization at McNeily. Results include 9.0 m of 0.73% Cu from 62 to 71 m including 3.5 m of 1.22% Cu from 63.0 to 66.5m. CL-23-12: Hole CL-23-12 was drilled 90 m southeast of CL-23-11 and 40 m southeast of CL-21-01.

This hole was drilled towards the northwest to scissor hole CL-21-01 (14 meters of 2.31% Cu within a wider zone of 28 meters of 1.58% Cu). CL-23-12 was abandoned at 22 m due to hole conditions. Chalcopyrite occurs as coarse stringers and veinlets.

Results include 0.87% Cu and 0.33 g/t Au over 5.5 m from 5 m to 10.5 m including 2.53% Cu and 0.70 g/t Au over 1.5 m from 5.5 m to 7.0 m. A 10 m interval from 12.0 m to 22.0 m includes 0.89 % Cu and 0.23 g/t Au including 2.80% Cu and 0.86 g/t Au over 1.5 m from 12.5 m to 14.0 m. CL-23-12A: Hole CL-23-12A was drilled approximately 5 m northeast CL-23-12. It was drilled to 185.0 meters. Mineralization includes 0.26% Cu and 0.19 g/t Au over 7.5 m from 12.5 m to 20.0 m, 0.35% Cu over 4.5 m from 24.5 m to 29.0 m and 0.23% Cu over 10.5 m from 98.0 m to 108.5 m. The drill program was successful in delineating and extending the McNeily zone to the south.

The Colchester project is part of the larger Springdale property which hosts numerous historic copper and gold deposits and showings, none of which have been adequately explored with the benefit of modern digital geophysical and geological modelling. These prospects occur within close proximity to each other and provide excellent advanced exploration targets towards resource definition. The Springdale property is road accessible and near significant mining services.

Vulcan used SGS Natural Resources (SGS) for all sample assaying in this drilling program. SGS Natural Resources analytical laboratories operate under a Quality Management System that complies with ISO/IEC 17025. Vulcan employed SGS?

four-acid digestion /ICP-OES multi-element analysis package grouped with 30 g, fire assay, AAS finish for gold. A four-acid digestion /ICP-OES ?ore-grade? analysis package is utilized for base metals assaying greater than detection limits.

Vulcan employed the use of standard reference materials for quality control at a rate of 5% of total samples. SGS undertakes their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Preliminary inspection of these control samples shows them to be within the expected limits.