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

To: Cyber Rock who wrote (128)	9/15/1998 1:06:00 PM
From: Cyber Rock	Read Replies (1) \| Respond to of 415

Patience always pays off! See this-- 1. See latest update below 2. Re-read the posting by Len Hynes previous to this one. Len provides credible information once he decides to respond to stocks he favours. Cyber Rock LATEST UPDATE BY VULCAN MINERALS INC Stock Symbol: VUL:ASE Shares issued: 9,5l9,5OO ST. JOHN'S, Nfld., Sept. 8 /CNW/ - Vulcan Minerals Inc (the company, ASE:VUL) has entered into an arms-length agreement for the procurement of pre-drilling engineering work towards the drilling of a well on its Flat Bay petroleum permit in western Newfoundland. Part of the compensation payable under that agreement includes the issuance of 25,000 options to purchase the common shares of the Company at $0.40 until July 1, 1999. The issuance of these stock options is subject to the approval of the Alberta Stock Exchange. The drill permitting process has commenced with the provincial Department of Mines and Energy towards drilling the well. Drilling is planned to commence in the fall of 1998 and will test the petroleum potential of the Carbeniferous-aged St. George's basin. The target to be drilled has been selected on the basis of seismic data, geologic data and the encouraging results of a stratifigraphic test hole completed in November 1996. A compilation and assessment report on the company's Alberta Diamond claims has been completed by APEX Geoscience Ltd. of Edmonton. They consider the potential of the properties to be moderate to high for the discovery of kimberlites and recommend a program of high-resolution magnetics on the properties. The preparation of a public prospectus financing with Yorkton Securities Inc. (as per our news release dated February 5, 1998) is still ongoing, however it is not expected to be finalized until market conditions improve. Further details will be released when available. THE ALBERTA STOCK EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE INFORMATION CONTAINED HEREIN. For further information: Mr. Patrick Laracy, President of Vulcan Minerals Inc., Tel: (709) 754-3186; Fax: (709) 754-3946; E-mail: laracy@thezone.net; Website: info-mine.com. VULCAN MINERALS INC., 366 Thorburn Rd., St. John's, NFLD., CANADA, A1B 4RI