Drilling Program Update at the Carbonear Zinc-Lead SEDEX project in Newfoundland

Vulcan Minerals Inc. has temporarily suspended its maiden drilling program at the Carbonear zinc-lead SEDEX project in eastern Newfoundland after weather-related access issues prevented completion of the planned 6-hole, 1,200-meter program. The company completed only the first hole before making the decision to demobilize the drill rig rather than maintain it on extended standby, with plans to resume operations when spring conditions improve access to the property.

The Carbonear project represents a methodical grassroots exploration effort targeting a sedimentary exhalative (SEDEX) deposit within a late Precambrian marine sedimentary sequence. Over multiple field seasons, Vulcan has systematically acquired extensive geochemical, magnetic, and gravity data that has identified a compelling 2-kilometer section within a larger 12-kilometer strike length anomalous zone averaging 1.5 kilometers in width. The project area exhibits some of the highest multi-element geochemical anomalies in Newfoundland, with soil samples showing lead values up to 1,630 ppm and zinc values reaching 628 ppm.

Infill sampling of historic drill holes has validated the exploration thesis, with hole CP-97-08 returning a weighted average of 0.23% zinc and 0.17% lead over 76.2 meters of sampled length, including higher-grade intervals of up to 4.1% lead and 1.5% zinc over 1.2 meters. This resampling program demonstrates the consistent nature of anomalous mineralization consisting of disseminated sulphides in turbiditic siltstones and secondary fracture fillings.

The property's SEDEX potential was originally recognized in 1980 by Cominco, the operator of the world-class Sullivan SEDEX mine in British Columbia. The convergence of favorable geological setting, extensive geochemical anomalism, and compelling geophysical signatures provides strong justification for continued exploration despite the temporary drilling suspension. The systematic exploration approach and government support through the Junior Exploration Assistance program positions Vulcan to advance this significant base metals opportunity once weather conditions permit resumed drilling operations.