Vulcan Minerals Inc V.VUL

Vulcan gets Offshore Permit

[lhynes]

Vulcan Minerals Inc. Offshore License Issued-Financing Completed ST. JOHN'S, Jan. 25, 2006 (Canada NewsWire via COMTEX) -- Vulcan Minerals Inc. ("the Company" TSX-V: VUL), announces that it has closed the remaining portion of the non-flow-through private placement reported on January 3, 2006. The placement consisted of 285,000 units at $0.35 consisting of one common share and one-half common share purchase warrant. Each whole warrant is exercisable into one common share at a price of $0.50 for 18 months. The agents received a 7 percent cash commission and 28,500 broker warrants, each broker warrant is exercisable into one common share at $0.50 for a period of 12-months. The proceeds will be used for working capital. The securities are subject to a 4-month hold period and final approval by the TSX Venture Exchange. The Company also reports that it has received Offshore Exploration License No. 1098 from the Canada-Newfoundland & Labrador Offshore Petroleum Board pursuant to the December 2005 Call for Bids process. Vulcan is a 50% interest holder in the license situated off the west coast of Newfoundland. Vulcan is a junior exploration company focussed on exploring for petroleum in Western Newfoundland both onshore and offshore. The Company also owns petroleum rights over an area prospective for coalbed methane in Western Newfoundland. As well, the Company owns mineral rights to a nickel/copper discovery in Labrador and a gold prospect in Central Newfoundland. Both mineral projects have been optioned out to Nortec Ventures Corp. The TSX Venture Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. %SEDAR: 00003997E SOURCE: Vulcan Minerals Inc. please contact Mr. Patrick Laracy, President of Vulcan Minerals Inc. at Phone: [phone], Fax: [phone] or Email: [e-mail], Website: www.vulcanminerals.ca Copyright (C) 2006 CNW Group. All rights reserved.