Vulcan Minerals Inc. - Closes Rig Purchase, Appoints Director

Stock Symbol:    TSX: VUL
Shares issued:   28,348,385

ST. JOHN'S, June 30 /CNW/ - Vulcan Minerals Inc. ("the Company" TSX-V:
VUL) is pleased to announce that the purchase of its oil and gas drilling rig
announced on May 6, 2005 has closed and the rig is enroute to Western
Newfoundland expected to arrive early next week. Following rig up and final
drilling permit approvals drilling will commence on the Storm No. 1 target.
This will be the first of a multi-well program to test a variety of geologic
targets within the Bay St. George Basin, onshore Western Newfoundland.
The Company also announces that Mr. Brian Sondergaard, P.Geoph. has been
appointed to the Board of Directors. He is currently Senior Geophysicist with
Real Resources Inc. of Calgary, AB. Mr. Sondergaard is an explorationist with
over 17 years experience in Western Canada with several companies including
Norcen Energy Ltd. and Lexxor Energy. He brings additional technical expertise
to the Board with an impressive "oil finder" exploration record. The
appointment is subject to the approval of the TSX Venture Exchange. The
Company proposes to issue 200,000 incentive stock options to Mr. Sondergaard
exercisable at $0.53 for a five-year period. Also the Company proposes to
issue 50,000 employee stock options at $0.53 for a two-year period subject to
TSX Venture Exchange approval. The Company has reserved 2,834,838 shares for
issuance pursuant to its Stock Option Plan of which 2,061,250 have been
granted including the grant described herein.

 The TSX Venture Stock Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
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