Botwood Basin

[Ed Monton]

VVC Exploration - Preliminary Exploration Results
Monday May 5, 6:21 pm ET


Symbol: VVC - TSXV
TORONTO, May 5 /CNW Telbec/ - VVC Exploration Corp. (VVC TSXV) (the "Company") is please to report the completion of its initial first phase drilling program on the Bowater Property in the Botwood Basin in central Newfoundland. The Bowater property is one of several Company's properties located amidst a recently identified geological setting that bears significant resemblance to the prolific Carlin Trend of Nevada.
Eighteen diamond drill holes were completed for a total of 1485.79m. Targeted were seven discrete MMI Au soil anomalies the Company had recently uncovered during its recent soil geochemical survey. The drilling commenced on January 13, 2003 and was completed on February 26, 2003.


Significant results of the recent drilling program include:

	    << 
 	    _________________________________________________________________________ 
 	    Hole No.    Core lenght    Description                 Assays (grams per 
 	                                                            tonne Au / metre) 
 	    _________________________________________________________________________ 
 	    VVC-03-04   55.78-56.39    Quartz breccia with 5% pyrite       2.81/0.61 
 	                               +/- arsenopyrite 
 	    _________________________________________________________________________ 
 	    VVC-03-05     6.22-6.64    Quartz vein with pyritic            1.13/0.42 
 	                               greywacke wallrock 
 	    _________________________________________________________________________ 
 	                14.33-15.85    Greywacke and quartz vein with      3.79/1.52 
 	                               up to 15% sulphides 
 	    _________________________________________________________________________ 
 	    VVC-03-06     6.25-6.86    Black shale with 50% quartz         1.15/0.61 
 	                               veins 
 	    _________________________________________________________________________ 
 	                21.34-21.64    Contact zone between shale and      1.63/0.30 
 	                               greywacke with 50% quartz veins 
 	                               and 5-10% pyrite-arsenopyrite 
 	    _________________________________________________________________________ 
 	    VVC-03-08   14.02-36.88    Sericite, carbonate altered       0.194/22.86 
 	                               sediments with quartz veinlets 
 	                               hosting pyrite-arsenopyrite 
 	    _________________________________________________________________________ 
 	    VVC-03-10   54.25-77.42    Wide zone of carbonaceous shale   0.466/23.17 
 	                               and siltstone with abundant 
 	                               quartz-calcite veining and 
 	                               variable pyrite, arsenopyrite 
 	                               and chalcopyrite mineralization 
 	    _________________________________________________________________________ 
 	    VVC-03-14    6.22-11.80    Highly fractured zone healed by    0.336/5.58 
 	                               quartz-calcite veining with  (incl. 0.653/1.0) 
 	                               minor pyrite in the wall rock 
 	    _________________________________________________________________________ 
 	    VVC-03-16   23.60-23.86    Quartz veins with 5-10% pyrite      3.57/0.26 
 	                               in wallrock and lesser in veins 
 	    _________________________________________________________________________ 
 	    VVC-03-18 137.38-138.38    Up to 10-15% pyrite-arsenopyrite     1.59/1.0 
 	                               in quartz (assayed at the very 
 	                               bottom of the hole) 
 	    _________________________________________________________________________ 
 	

>>


The other drill holes encountered minor sporadic anomalous gold. Drill hole VVC-03-2 was stopped short due to poor ground conditions.
Drill holes 1 to 7 were drilled close together (within 75 meters) in the vicinity (within 100 meters) of the Knob showing where MMI Au soil anomalies are spatially associated with the Linear structural trend. Drill holes 8 and 10 tested an elongated (200m by 40m) Au MMI anomaly coincident with a As soil anomaly. Both holes encountered anomalous Au over a large width (approx 23 meters) and indicate the presence of a significant gold bearing structure in that area. Drill holes 14 and 16 tested a (300m by 20m) elongated MMI Au soil anomaly in the vicinity of the Bowater showing (within 150 meters).

The drilling results have confirmed the presence of anomalous bearing structures at a number of locations on the property which will be further investigated with follow up work during the summer. The Company has recently collected an additional 400 MMI Au samples. These results have confirmed the presence of a number of untested MMI Au targets on the Bowater and on two others of the Company's Botwood properties which will also be included for further work into the summer exploration program.

VVC is continuing to examine potential resource properties or projects for acquisition purposes which are presented to us. Any developments with regards to these examinations will be reported to shareholders in accordance with the securities rules and regulations.

The Qualified person who has prepared this news release is Paul Delaney, P.Geo.


The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.

Dated: May 5th, 2003

On behalf of the Board of Directors
Signature
Michel Lafrance, Secretary-Treasurer

For further information

Michael Curtis, Director, [phone] or e-mail [e-mail]



--------------------------------------------------------------------------------
Source: VVC Exploration Corp.