Vulcan Minerals Inc.: Closes Acquisition of Tasisuak Lake Nickel/Copper/PGE Property Interest

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 04/02/13 -- Vulcan Minerals Inc. ("the Company" - "Vulcan")(TSX VENTURE: VUL) is pleased to announce it has closed the transaction with Nortec Minerals Corp (Nortec) to acquire Nortec's 51% working interest in the Tasisuak Lake Nickel/Copper/PGE property in northern Labrador and has received all regulatory approvals. The consideration for the acquisition is 1,000,000 common shares of the Company. Nortec will retain a 1% Net Smelter Return Royalty subject to certain buyout provisions. The Company now owns 100% working interest as a result of the acquisition.

The Tasisuak Lake Nickel/Copper/PGE property is situated approximately 50 km northwest of the Voisey's Bay Nickel/Copper mine. Previous work on the property included shallow drilling with encouraging results of up to 14 metres of 1.02% Nickel, 0.51% Copper, 0.03% Cobalt, 0.12% Chromium and 0.35 g/t Platinum Group Elements plus Gold. Many geophysical targets and surface showings remain untested. The mineralization occurs in noritic intrusive rocks within the Tasiyuak gnesis marginal to the Nain Plutonic Suite. The Company has commenced a detailed compilation and integration of all previous work towards soliciting a joint venture partner and formulating an exploration program for 2013. The nature of that program will likely consist of prospecting, mapping and potential geophysical surveying of priority targets identified by the ongoing evaluation of previous work.

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. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Shares Issued: 58,526,129

Contacts:

Vulcan Minerals Inc.

Patrick J. Laracy, President

Gerri A. MacNeil, Business Manager, Investor Relations

(709) 754-3186
info@vulcanminerals.ca
www.vulcanminerals.ca