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Gold/Mining/Energy : Vulcan Minerals - C.VUL
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To: Cyber Rock who wrote (8)12/17/1996 11:49:00 AM
From: Jeff Spurrell   of 415
 
Stock Symbol: VUL:ASE
Shares issued: 8,574,500
December 16/96 close price: $0.53

ST. JOHN'S, Nfld., Dec. 17 /CNW/ - Vulcan Minerals Inc. (ASE
Symbol VUL) (the ``Corporation'') announces that it has completed the
previously announced offering of 1,134,500 common shares
($567,200.00) at a price of $0.50 per share. Proceeds from the
issuance are planned to be used to fund exploration programs on the
Corporation's Labrador properties and for working capital.
McDermid St. Lawrence Securities acted as Agent in the
distribution.

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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