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Gold/Mining/Energy : Vulcan Minerals - C.VUL

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To: Bernard Poulin who wrote (4)	11/12/1996 10:07:00 AM
From: Jeff Spurrell	of 415

VULCAN MINERALS INC. COMPLETES OIL TEST HOLE ON THE WEST COAST OF NEWFOUNDLAND Stock Symbol: VUL:ASE Shares issued: 7,440,000 Nov. 11/96 close price: $0.60 ST. JOHN'S, Nfld., Nov. 12 /CNW/ - Vulcan Minerals Inc. (Vulcan - VUL:ASE) is pleased to announce that London Resources Inc., an affiliated company (25% interest) has suspended drilling of its petroleum test hole on the west coast of Newfoundland at 505 feet. The hole was drilled with a continuous core diamond drill to test the petroleum bearing potential of a Carboniferous aged conglomerate. The conglomerate was penetrated and cored from 452 feet to 505 feet. Oil bled from the core in varying degrees over the full length of the conglomerate. Oil samples were recovered from the hole. Both the oil samples and core are presently being prepared for analysis of reservoir and hydrocarbon characteristics. The hole has been suspended for possible future re-entry and analysis. The Alberta Stock Exchange neither approves nor disapproves of the information contained herein. For further information: Mr. Patrick Laracy, President, Vulcan Minerals Inc., tel: (709) 754-3186, fax: (709) 754-3946 or E-mail: laracy(at)cycor.ca

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