Vulcan Minerals Inc. (“the Company” – “Vulcan” TSX-V: VUL) announces that Investcan Energy Corporation (Investcan), has commenced re-entry and deepening of the Hurricane #2 well on permit 96-107 in western Newfoundland. Hurricane #2 was a well drilled by the Company in 2005 to a depth of 935 metres. The well had petroleum shows in the shallow section and was suspended pending further evaluation at that time. Investcan is deepening the well to further evaluate the geologic section and petroleum prospectivity.
Investcan has also re-entered and is conducting workover operations on Gobineau #1, a well drilled in late 2012 on Permit 03-106. Investcan’s previously announced two new proposed wells, Thoulet #1 and #2 are currently proceeding through the environmental review process. Vulcan owns a 2% gross overriding royalty on Petroleum Permits 03-107, 03-106 an 96-105 totalling approximately 250,000 acres in the Bay St. George basin.
Vulcan is a diversified junior exploration company with petroleum and mineral exploration interests in Newfoundland and in Labrador.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.