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Vulcan Resources Limited

Monday, November 12th, 2007

Vulcan Resources Limited announce higher than expected grades from the first 12 drill holes at the Company’s Sika-aho nickel deposit in eastern central Finland.
Sika-aho is one of six target deposits at Vulcan’s Kuhmo Nickel Project where the Company is conducting shallow infill and extension drilling to verify previous drilling and delineate high grade zones. Drilling results have been reported previously from three deposits; Peura-aho, Hietaharju and Vaara.
Originally discovered in the 1990’s by the Geological Survey of Finland, Sika- aho is a small, komatiite-associated nickel deposit located in the fertile Kuhmo greenstone belt.
The highest nickel value obtained from Vulcan’s drilling was 4.39% nickel. The best result from prior drilling at the deposit was 7 metres at 1.26% nickel.
Vulcan Managing Director, Dr Alistair Cowden, said “Today’s results extend and improve high grades at the deposit. Vulcan has completed 17 diamond drill holes at Sika-aho and a number of these returned values in excess of those obtained in prior drilling.
The highlights from this drill programme are:
– 14.3 metres from 44.7 metres @ 1.28% nickel
incl. 2.05 metres @ 2.53% nickel
– 11.8 metres from 54.6 metres @ 0.86% nickel
incl. 1.10 metres @ 3.03% nickel
– 5.7 metres from 18.6 metres @ 1.45% nickel
incl. 1.00 metre @ 3.33% nickel
Platinum and palladium assays are pending.
Vulcan is currently drilling Arola, the fifth target at Kuhmo, and anticipates a new drill rig arriving in the New Year to further accelerate the Company’s exploration campaign.
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