Vulcan Minerals Inc V.VUL

Vulcan Closes Private Placement

[lhynes]

Vulcan Minerals Inc.11/9/00 - Private Placement Closes Vulcan Mineral's Inc. (CDNX; VUL, the company) is pleased to report that the private placement announced on October 12, 2000 has closed. The CDNX has accepted for filing all the relevant documentation in respect of the placement. The securities issued are subject to a one-year hold period. The proceeds of $210,000.00 will be used for general working capital and Western Newfoundland petroleum exploration. As well the company reports that it has granted to Augen Capital Corp. of Toronto Ontario a first right of refusal to place up to $500,000.00 by way of a flow-through private placement on or before December 15, 2000. Pricing of the securities is anticipated to be within the context of the market. Augen Capital Corp. is an investment holding company/merchant bank with extensive experience in the financing of exploration companies. For information please contact Mr. Patrick Laracy, President of Vulcan Minerals Inc. at [phone], fax [phone] or E:mail: [e-mail] The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.