VULCAN MINERALS Purchases Drilling Rig

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

ST. JOHN'S, NL, May 6 /CNW/ - Vulcan Minerals Inc. ("the Company" TSX-V:
VUL) is pleased to announce that it has entered into an agreement with Rose
Resource Drilling Inc. of Ontario to purchase a drilling rig to pursue its
onshore Western Newfoundland drilling program. Given the very strong demand on
the drilling services sector and resulting high drilling costs, the Company
decided to purchase a rig to ensure a timely and cost effective drilling
program. Because Western Newfoundland is a frontier area, the largest
operational risk factor facing the Company is the timely access to cost
efficient drilling services. Acquisition of a rig is a means of managing that
risk in the context of a very busy petroleum exploration industry where
availability of rigs will continue to be a challenge for frontier areas.
The rig is an Ingersoll Rand RD10 top drive unit capable of drilling with
air and fluid. It is capable of drilling to depths of 1,200 meters and is
ideal for drilling the numerous targets identified at less than 1,000-meter
depth. The agreement to purchase the rig is subject to normal closing
conditions and will be paid for out of existing working capital and the
release of existing security the Company holds on the rig. It is expected that
the rig will be transported to Newfoundland by the end of May. This will be
the first operator-owned Newfoundland based oil and gas drilling rig and will
ensure that Vulcan's drilling programs in Western Newfoundland will proceed on
a timely and cost efficient basis.
The Company has completed an internal interpretation of the recently
acquired seismic program. Several targets have been identified within and near
the Hurricane Structure. In the next round of drilling the Company intends to
drill test two of these targets as well as the Storm Target approximately    
20 km north of Hurricane. Further drilling is expected on the Flat Bay
Structure as well. Geologic details will be described in a future news
release. The Company has commenced the permitting process with the provincial
government for the upcoming drill program. Drilling will commence as soon as
the rig and all necessary components are assembled, drilling personnel are
hired and drilling approvals are obtained from government. The Company looks
forward to a busy 2005 drilling season.

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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