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ST. JOHN'S, NEWFOUNDLAND AND LABRADOR / ACCESS Newswire / February 6, 2026 / Vulcan Minerals Inc. ("the Company" - "Vulcan" TSX-V:VUL), announces that it has completed the first hole of a drilling program at the Carbonear Project in eastern Newfoundland. The initial program was planned for approximately 1,200 meters in six holes, but due to weather-related access issues the program has been suspended until Spring.

Patrick Laracy, President noted "The Carbonear property represents an exciting grass roots exploration project. Given the weather-related access issues, we decided not to keep the drill rig on an extended standby but will return to finish the program when access conditions improve."

Project Summary

The property contains a late Precambrian marine sedimentary sequence prospective for sedimentary exhalative zinc, lead and other metals (SEDEX deposit) based on several geological characteristics. These include the geologic setting within a thick sequence (greater than 6 km) of marine basinal shale, siltstone and sandstone including turbidite deposits containing lead and zinc mineralization. Over the last few field seasons, the Company has methodically acquired extensive geochemical soil data combined with historic soils, stream and lake bottom samples to identify a multi-element anomaly associated with a stratigraphic zone of distinct magnetic character. This also coincides with a gravity anomaly. The current focus is on a 2-kilometer section of the stratigraphic zone of interest that extends greater than 12 kilometers along strike with an average width of 1.5 kilometers. The company previously released a compilation of assays from the historic drill program in this area (see below).

Why Drill this Property?

Drilling is warranted based on a methodical exploration process over the last few years. In addition to the general prospective geologic setting described herein, several data sets have been acquired supporting the SEDEX potential of this area as reviewed below.

Magnetic Data

The Company acquired an airborne high resolution magnetic, VLF electromagnetic and Lidar survey over the complete property at 200-meter line spacing for a total survey length of 1,267 line kilometers. The purpose is to identify within the sedimentary sequence any zone of magnetic character that would indicate potential mineralization and structural architecture. A distinct magnetic trend was identified, best exhibited by the first vertical derivative of the data. It extends approximately 12 kilometers along strike with an average width of 1.5 kilometers. The feature has impressive scale (see magnetic map). The zone appears conformable with the regional sedimentary bedding. Prospecting has identified disseminated pyrrhotite at various locations along strike. Pyrrhotite is an iron sulphide mineral, variably magnetic in nature, and is known as a mineral associated with zinc and lead in Sedex deposits. Cross faults within the zone of interest are also interpreted based on magnetic discontinuities and surface mapping. They represent favorable targets because they may provide mineral fluid conduits through the sedimentary sequence. Lidar data, which provides high resolution topographic data assisted with the overall structural interpretation to confirm the location of cross faults. Our current exploration is focussed on such an area within the regional trend.

Figure 1. Magnetic Anomaly Trend

Geochemistry

As previously reported, the Company completed an extensive soil geochemical program amounting to 1,879 samples focused along the magnetically anomalous zone in favourable structures (see map Gull Pond North).

The Gull Pond area exhibits strongly anomalous zinc and lead soil values. A total of 125 samples exceed the 90th percentile value of 78 parts per million (ppm) lead with 13 samples exceeding the 99th percentile of 298 ppm. These values range up to a maximum of 0.1630% lead (1,630 ppm). Regarding zinc, 126 samples exceed the 90th percentile value of 72 ppm with 13 samples exceeding the 99th percentile value of 207 ppm. These values range up to 628 ppm zinc. These results confirm the regional historic results for zinc and lead which is consistent with the area being one of the highest multi-element geochemical anomalies in Newfoundland based on lake sediment and stream sediment data.

Our current drill program is focussed on one of the most anomalous zinc-lead areas.

Figure 2. Lead in Soil Geochemistry

Figure 3. Zinc in Soil Geochemistry

Bolstered by favourable magnetic and geochemical soil results, the Company completed a ground gravity survey over the Gull Pond north grid in 2024 (see gravity map). The survey consisted of a total of 17 line kilometers at a 200 meter spacing for an approximate coverage of 2.25 square kilometres. The survey identified a positive bouguer gravity and residual anomaly coincident with the magnetic and soil anomalies, constituting a compelling drill target.

Figure 4. Gravity Geophysical Anomaly

Carbonear - Infill Sampling Historic Drill Holes

Prior historic drilling in the Gull Pond North area consisted of a total of five shallow holes to test ground electrical conductors. Given that the Company's recent work has enhanced the prospectivity of this general area, the company resampled Holes CP-97-08 and CP-97-10 to better ascertain the tenor of mineralization previously encountered. These holes contain anomalous zinc mineralization over a potential stratigraphic interval of approximately 100 meters based on 23 historic core samples in Hole CP-97-08 and 10 historic core samples in Hole CP-97-10. To confirm and better define the tenor of mineralization, an additional 31 samples over 42.5 meters in Hole CP-97-08 and 26 samples over 47 meters in Hole CP-97-10 were assayed. Mineralization consists of disseminated sulphides in turbiditic siltstones and secondary fracture fillings. A complete compilation of all sample intervals from both holes is available at https://vulcanminerals.ca/carbonear-historical-drill-sampling-results/. This infill sampling demonstrates the consistent nature of the anomalous mineralization. Hole CP-97-08 (76.2 meter total sampled length) has a weighted average of 0.23% zinc and 0.17% lead, including up to 1.2 meters of 4.1% lead and 1.5% zinc. Hole CP-97-10 (60.8 meter total sampled length) has a weighted average of 0.10% zinc and 0.05% lead.

The property was originally identified (1980) for its sedimentary exhalative base metal potential by Cominco, who operated the giant Sullivan SEDEX mine in British Columbia, one of the largest zinc-lead mines in the world.

JEA Assistance Acknowledged

The Company acknowledges and thanks the provincial government for providing a Junior Exploration Assistance ("JEA") grant for past work on its Colchester Springdale Project. The Company has applied for further financial grants pursuant to the JEA program in respect to work carried out on the Carbonear project.

About Vulcan

Vulcan Minerals is a precious and base metals exploration company based in St. John's Newfoundland and Labrador. The company has strategic land positions in multiple active Newfoundland gold and base metal exploration and development belts. It also holds approximately 27% of the shares in Atlas Salt Inc. (TSXV: SALT). Atlas Salt is currently developing the Great Atlantic Salt mine in western Newfoundland.

Patrick J. Laracy P.Geo., President, is the qualified person responsible for the technical contents of this news release as defined in National Instrument 43-101.

We seek safe harbour.

Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: completion, delivery and timing of the referenced exploration program and assumptions related thereto. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

For information please contact:

Patrick J. Laracy, P.Geo.
President
(709) 754-3186
info@vulcanminerals.ca
www.vulcanminerals.ca

SOURCE: Vulcan Minerals, Inc.