Vulcan Minerals Inc. – Grant of Incentive Stock Options

Vulcan Minerals Inc. announced the grant of 2,550,000 incentive stock options to directors and employees at an exercise price of $0.23 per share, with a ten-year term. The grant is subject to TSX Venture Exchange approval and was issued pursuant to the company's Stock Option Plan. Following this grant, Vulcan will have 12,990,240 shares reserved for issuance, with 4,900,000 shares issued and outstanding prior to the current grant.

The stock option grant represents a standard corporate governance and employee incentive measure, allowing the company to retain and motivate key personnel without immediate cash expenditure. At the current exercise price of $0.23, the options provide alignment between management/employee interests and shareholder value creation, as they only become valuable if the share price appreciates above the strike price.

Vulcan Minerals operates as a precious and base metals exploration company headquartered in St. John's, Newfoundland and Labrador. The company maintains strategic land positions across multiple active Newfoundland gold and base metal exploration and development belts, positioning it within one of Canada's most prospective mining jurisdictions. Additionally, Vulcan holds approximately 27% of Atlas Salt Inc., which is currently developing the Great Atlantic Salt mine in western Newfoundland, providing the company with exposure to the industrial minerals sector.

This corporate action reflects standard practice for junior exploration companies to preserve cash while providing equity-based compensation. The ten-year term provides long-term alignment and the exercise price suggests management confidence in future value creation. For the broader sector, such grants indicate continued investment in human capital within Newfoundland's growing mining sector, particularly as the province experiences increased exploration activity across multiple commodity types.