Vulcan Minerals Inc. Spuds Flat Bay No. 3

Stock Symbol:      TSX: VUL
Shares issued:     28,510,884

ST. JOHN'S, Sept. 30 /CNW/ - Vulcan Minerals Inc. ("the Company" TSX-V:
VUL), is pleased to announce that drilling operations have commenced at its
Flat Bay No. 3 location in Western Newfoundland. The well is situated near the
Flat Bay No. 1 discovery where a thick oil bearing zone had been previously
encountered. Flat Bay No. 3 is situated in an area where the reservoir zone is
interpreted to be naturally fractured due to faulting. This interpretation is
based on seismic data, historic mining hole results and aerial lineament
analysis. Natural fracturing of the reservoir would enhance the reservoir
potential in the area. The Company is currently cementing the conductor casing
at 18 meters depth. The permitted depth of the well is 600 meters, though that
depth may vary depending on the rocks encountered. The well is being drilled
with the company's own drilling rig and is funded 100% by the Company. The
Flat Bay target is a Carboniferous-age conglomerate-sandstone unit flanking
the northern plunge of the Flat Bay anticline.

Vulcan is a junior exploration company focused on exploring for petroleum
in Western Newfoundland. The Company has an experienced management group and
is carrying out a multi-well program in 2005. Vulcan owns interests in
approximately 250,000 acres in the Bay St. George Basin, which has the
potential to be a new petroleum basin in North America.

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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