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St. John's - Newfoundland April 3, 2004--Vulcan Minerals Inc. ("the Company" TSX: VUL) announces that the Parson's Pond #1 well in western Newfoundland is currently drilling at a depth of 720 meters with a projected total depth of 1200 meters. It is anticipated the well will reach total the depth within the next two weeks. Numerous hydrocarbon shows have been encountered. This is consistent with past drilling experiences in the area which is renown for surface oil seeps in Cambrian-Ordovician sediments. Shallow historic drilling in the Parson's Pond area has encountered a light, sweet oil (43˚ API) in several well bores drilled without the aid of subsurface seismic imaging. Parson's Pond #1 is the first well ever drilled in the area targeting a seismically identified structure. The Company will pay 16.67% of the drilling and completion costs of Parson's Pond #1 to earn a 10% working interest in permits 03-103 and 03-101 (70,000 acres) from the operator, Contact Exploration Inc. of Calgary.

Stock Symbol:     TSX: VUL
Shares issued:    22,712,134




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