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Gold/Mining/Energy : Vulcan Minerals - C.VUL -- Ignore unavailable to you. Want to Upgrade?

To: Len Hynes who wrote (359)	12/30/1999 4:17:00 PM
From: Len Hynes	Read Replies (1) \| Respond to of 415

Vulcan Minerals Financing Update Stock Symbol: CDNX:VUL Shares issued: 9,519,500 ST. JOHN'S, NF, Dec. 30 /CNW/ - St. John's Newfoundland Vulcan Minerals Inc. (CDNX: VUL, the Company) announces that the proposed private placement announced on November 24, 1999 will not be closing by December 31, 1999. Instead the company is pursuing a public offering by way of prospectus early in 2000 to raise drilling funds for the onshore Western Newfoundland petroleum project. The Company is negotiating with two brokerages to act as agents for the offering. Details will be announced as soon as they are finalized. As well the company is aggressively pursuing joint venture partners for the project. The Canadian Venture Exchange neither approves nor disapproves of the information contained herein. -30- For further information: please contact Mr. Patrick Laracy, President of Vulcan Minerals Inc. at (709) 754-3186, fax (709) 754-3946 or E-mail: laracy@thezone.net