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To: Kent C. who wrote (332)	2/5/1998 10:44:00 AM
From: Kent C.	Respond to of 746

Feb. 05 - VUL.ASE - ENTERS INTO FINANCING AGREEMENT Shares Issued: 9,119,500 ST. JOHN'S, Nfld., Feb. 5 /CNW/ - Vulcan Minerals Inc. (the company, ASE:VUL) is pleased to announce that it has negotiated a financing agreement with Yorkton Securities Inc. (Yorkton) whereby Yorkton will seek to raise by way of Exchange Offering Prospectus (EOP) $1,050,000 with an option to raise up to $1,207,500. It is anticipated that the EOP will be filed by March 31, 1998 and will offer units consisting of one share and one series A warrant. Each series A warrant would be exercisable for 12 months from date of issue at a price equal to the offering price of the units. The price of the units will be in the context of the market at the time of filing. The Agent will be entitled to a commission of 7.5% of gross proceeds and be entitled to warrants equal to 15% of the units sold. The broker warrants would have the same terms as the series A warrants. The financing is subject to normal due diligence and regulatory approvals. Proceeds are to be used for diamond exploration in Alberta and petroleum exploration onshore western Newfoundland. Vulcan owns 100% interest in approximately 2.1 million acres under application for metallic and industrial mineral permits in northern Alberta. These properties cover favourable structural sites for diamondiferous kimberlites. Part of the proceeds from the financing will go to high-resolution airborne magnetic surveying of the properties. As well, this year Vulcan plans to drill an onshore well for petroleum in western Newfoundland, an emerging exploration frontier area. The company is presently permitting a seismic survey in prelude to the drilling program. Vulcan already owns a 25% interest in the Flat Bay block with rights to earn up to 62.5% interest by drilling a well by July 1998. The Alberta Stock Exchange neither approves nor disapproves of the information contained herein.

To: Kent C. who wrote (332)	2/5/1998 10:46:00 AM
From: Kent C.	Respond to of 746

Feb. 04 - EV.ASE - ERIN REPORTS SIGNIFICANT ASSAYS VICTORIA, B.C., Feb. 5 /CNW/ - Mr. Tim Daniels, President of Erin Ventures Inc. is pleased to announce that the initial assays from the infill drill program on the Corporation's Piskanja borite project in Yugoslavia, have met and exceeded expectations. Four main borite beds were intersected for a total of 23 metres of compact (high grade) borite. The top bed returned a 10 metre intersection of 35.36% B2O3 (boron) including 3.5 metres of 43.18% B2O3; the next bed returned a 2.5 metre intersection with an average grade of 30.94% B2O3; the third bed included a 3 metre intersection with an average grade of 22.25% B2O3; and the last bed included a 3 metre intersection with an average grade of 24.92% B2O3. As well, these results confirm that the upper two borite beds, discovered during earlier wide spaced drilling, have continuity. In accordance with the policies of The Alberta Stock Exchange, the following technical information is provided. - Results are stated as a percentage concentration. - All measurements are metric. - Chemical analysis was conducted by Geozavod-nemetali (Geological Institute of Yugoslavia). - Analytical Methodology : standard chemical analysis. - Duplicate sample splits and pulps have been sent to Lakefield Research in Lakefield, Ontario for check analysis. - Samples were collected between 06/11/97 and 11/11/97. - Analysis was conducted between 26/01/98 and 28/01/98. - Results presented are from drill hole B-9/97. - Location: Piskanja Project, Baljevac, Yugoslavia. - Sample type: Reverse circulation - centre line sampling system. - Azimuth/dip: vertical hole, 90 degree dip. - sample interval is 0.5 metres. - Lithology is typical of sedimentary basins, primarily shales, marls and limestone with two primary gently undulating borate beds, mineralization is primarily dense, compact colemanite with some ulexite. - sample widths: 0.5 metres. - Weighted average grades: - 10 m of 35.36% B2O3, includes 3.5 m of 43.18% B2O3 ; 2.5 m of 30.94% B2O3 3 m of 22.25% B2O3 3 m of 24.92% B2O3 See attached table for detailed chemical analysis. << GEOZAVOD-NEMETALI ------------------------------------------------------------------------- Redni B-9 Od - do ANALIZA broj m ------------------------------------------------------------------------- SiO(2) MgO CaO Na(2)O K(2)O B(2)O(3) ------------------------------------------------------------------------- 1. B-9 76.0--76.5 34.80 10.31 9.67 2.80 2.06 0.13 ------------------------------------------------------------------------- 2. B-9 77.5--78.0 32.00 10.74 14.92 1.45 2.00 0.12 ------------------------------------------------------------------------- 3. B-9 105.0--105.5 3.90 4.0 50.75 0.48 0.23 0.23 ------------------------------------------------------------------------- 4. B-9 105.5--106.0 4.21 10.38 40.00 0.34 0.37 0.22 ------------------------------------------------------------------------- 5. B-9 106.0--106.5 10.36 7.84 37.00 0.71 1.37 0.21 ------------------------------------------------------------------------- 6. B-9 106.5--107.0 3.68 8.11 44.80 0.11 0.38 0.18 ------------------------------------------------------------------------- 7. B-9 107.0--107.5 7.56 6.08 41.50 0.38 0.65 0.27 ------------------------------------------------------------------------- 8. B-9 121.5--122.0 31.90 10.09 11.76 1.73 2.95 14.00 ------------------------------------------------------------------------- 9. B-9 122.0--122.5 29.64 11.00 12.57 1.83 3.22 0.14 ------------------------------------------------------------------------- 10. B-9 122.5--123.0 25.80 11.10 16.50 1.72 2.62 0.88 ------------------------------------------------------------------------- 11. B-9 123.0--123.5 8.30 6.04 32.30 0.57 0.93 25.70 ------------------------------------------------------------------------- 12. B-9 123.5--124.0 2.60 1.16 26.80 0.50 0.32 51.00 ------------------------------------------------------------------------- 13. B-9 124.0--124.5 6.05 7.00 23.60 0.56 0.68 37.20 ------------------------------------------------------------------------- 14. B-9 124.5--125.0 7.86 10.70 22.80 0.23 0.97 26.60 ------------------------------------------------------------------------- 15. B-9 125.0--125.5 3.66 2.74 28.70 0.11 0.63 49.80 ------------------------------------------------------------------------- 16. B-9 125.5--126.0 4.00 1.50 25.80 0.13 0.77 44.20 ------------------------------------------------------------------------- 17. B-9 126.0--126.5 2.47 1.37 27.50 0.10 0.53 50.33 ------------------------------------------------------------------------- 18. B-9 126.5--127.0 10.20 5.13 26.80 0.36 1.24 28.65 ------------------------------------------------------------------------- 19. B-9 127.0--127.5 15.30 6.16 24.00 0.55 1.55 26.00 ------------------------------------------------------------------------- 20. B-9 127.5--128.0 15.30 4.93 22.00 0.58 1.40 35.47 ------------------------------------------------------------------------- 21. B-9 128.0--128.5 6.10 3.10 22.90 0.26 0.37 40.31 ------------------------------------------------------------------------- 22. B-9 128.5--129.0 9.38 4.70 22.00 0.70 0.98 32.00 ------------------------------------------------------------------------- 23. B-9 129.0--129.5 13.30 4.72 16.20 4.00 1.26 30.60 ------------------------------------------------------------------------- 24. B-9 129.5--130.0 14.70 4.64 16.20 3.48 1.30 29.00 ------------------------------------------------------------------------- 25. B-9 130.0--130.5 14.40 6.00 16.50 3.92 1.24 32.70 ------------------------------------------------------------------------- 26. B-9 130.5--131.0 13.20 4.50 15.20 5.14 1.00 35.85 ------------------------------------------------------------------------- 27. B-9 131.0--131.5 8.50 2.65 16.60 5.57 0.60 36.83 ------------------------------------------------------------------------- 28. B-9 131.5--132.0 17.60 6.20 13.30 4.62 1.14 25.52 ------------------------------------------------------------------------- 29. B-9 132.0--132.5 8.23 2.45 16.10 5.75 1.07 34.50 ------------------------------------------------------------------------- 30. B-9 132.5--133.0 7.70 2.43 16.20 5.70 0.88 35.00 ------------------------------------------------------------------------- 31. B-9 133.0--133.5 10.90 18.30 12.90 1.63 1.15 13.50 ------------------------------------------------------------------------- 32. B-9 133.5--134.0 20.80 22.90 7.66 1.26 0.54 7.06 ------------------------------------------------------------------------- 33. B-9 134.0--134.5 14.30 17.90 14.00 1.13 0.36 12.18 ------------------------------------------------------------------------- 34. B-9 134.5--135.0 6.04 21.40 16.80 0.46 0.28 4.80 ------------------------------------------------------------------------- 35. B-9 135.0--135.5 12.00 20.20 16.20 0.64 0.47 5.66 ------------------------------------------------------------------------- 36. B-9 135.5--136.0 20.60 17.90 14.50 1.02 0.87 1.95 ------------------------------------------------------------------------- 37. B-9 136.0--136.5 26.40 12.70 6.45 2.23 2.20 6.28 ------------------------------------------------------------------------- 38. B-9 136.5--137.0 27.50 13.00 8.84 2.61 1.90 12.54 ------------------------------------------------------------------------- 39. B-9 141.5--142.0 20.75 11.80 18.10 2.11 3.54 6.40 ------------------------------------------------------------------------- 40. B-9 142.0--142.5 9.62 2.95 23.58 0.40 0.91 38.71 ------------------------------------------------------------------------- 41. B-9 142.5--143.0 29.50 7.65 15.27 1.61 2.92 14.13 ------------------------------------------------------------------------- 44. B-9 144.0--144.5 12.73 5.65 19.16 1.70 1.67 26.51 ------------------------------------------------------------------------- 45. B-9 152.0--152.5 42.30 6.55 9.20 2.68 2.80 2.12 ------------------------------------------------------------------------- 46. B-9 152.5--153.0 43.20 6.15 7.66 4.22 2.70 4.90 ------------------------------------------------------------------------- 47. B-9 153.0--153.5 44.00 5.63 8.84 3.00 2.65 5.30 ------------------------------------------------------------------------- 48. B-9 153.5--154.0 44.80 5.50 8.58 3.45 3.32 5.35 ------------------------------------------------------------------------- 49. B-9 154.0--154.5 39.60 5.45 10.24 3.08 3.45 6.73 ------------------------------------------------------------------------- 50. B-9 181.0--182.0 31.00 11.04 12.08 1.75 3.45 6.48 ------------------------------------------------------------------------- 51. B-9 182.0--183.0 8.64 8.32 23.30 0.60 1.24 27.80 ------------------------------------------------------------------------- 52. B-9 183.0--184.0 4.27 4.04 25.74 0.20 0.40 38.80 ------------------------------------------------------------------------- 53. B-9 183.5--184.0 33.65 12.52 12.16 1.68 4.32 0.48 ------------------------------------------------------------------------- 54. B-9 184.0--184.5 9.80 7.45 22.50 1.25 1.75 28.77 ------------------------------------------------------------------------- 55. B-9 184.5--185.0 17.70 15.26 21.00 1.44 2.53 2.66 ------------------------------------------------------------------------- 56. B-9 185.0--185.5 7.85 3.97 24.23 0.72 0.86 35.00 ------------------------------------------------------------------------- 57. B-9 185.5--186.0 37.46 11.23 10.03 1.75 4.67 0.90 ------------------------------------------------------------------------- 58. B-9 186.0--186.5 46.50 7.73 4.73 2.00 5.18 0.80 ------------------------------------------------------------------------- 59. B-9 186.5--187.0 41.87 9.35 4.95 1.96 5.10 0.60 ------------------------------------------------------------------------- 60. B-9 187.0--187.5 32.65 12.18 10.70 2.26 2.92 1.00 ------------------------------------------------------------------------- 61. B-9 221.5--220.0 51.08 5.35 4.55 1.98 3.41 2.60 ------------------------------------------------------------------------- 62. B-9 220.0--222.5 49.04 4.70 7.00 2.90 3.38 2.53 ------------------------------------------------------------------------- 63. B-9 222.5--223.0 50.75 5.03 4.73 2.00 3.58 0.68 ------------------------------------------------------------------------- 64. B-9 223.0--223.5 49.50 5.48 3.68 2.48 3.66 0.75 ------------------------------------------------------------------------- 65. B-9 254.0--254.5 40.20 11.50 5.10 2.05 3.07 2.10 ------------------------------------------------------------------------- 66. B-9 254.5--255.0 26.00 9.60 13.50 1.50 2.27 14.00 ------------------------------------------------------------------------- 67. B-9 255.0--255.5 9.00 7.31 24.00 0.65 0.57 35.00 ------------------------------------------------------------------------- 68. B-9 255.5--256.0 6.90 8.56 21.60 0.55 0.40 27.00 ------------------------------------------------------------------------- 69. B-9 256.0--256.5 5.30 9.65 22.00 0.26 0.54 31.00 ------------------------------------------------------------------------- 70. B-9 256.5--257.0 3.00 10.65 22.80 0.10 0.17 31.40 ------------------------------------------------------------------------- 71. B-9 257.0--255.5 5.75 14.50 21.50 0.21 0.58 21.10 ------------------------------------------------------------------------- 72. B-9 257.5--258.0 27.50 16.60 18.00 0.71 0.47 0.93 ------------------------------------------------------------------------- 73. B-9 258.0--258.5 29.80 11.78 5.50 1.26 2.34 0.83 ------------------------------------------------------------------------- 74. B-9 258.5--259.0 40.06 8.87 2.40 1.67 4.40 0.90 ------------------------------------------------------------------------- >> THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN