Mr. Donald Hoy reports

WOLFDEN CONFIRMS MASSIVE SULPHIDES ZONE IN MAINE AND COMPLETES PLACEMENT

Wolfden Resources Corp. has intersected massive sulphide mineralization (volcanogenic massive sulphide (VMS)) in each of the first two drill holes completed on its wholly owned Pickett Mountain base metal property, located in northern Maine. The 10,000-metre definition and expansion drill program is designed to confirm and expand upon historical drill results from the 1970s and 1980s on what was known then as the Mount Chase VMS deposit. Wolfden renamed the project as the main zone of mineralization, comprising two lenses that span 900 metres in length and up to 800 m deep, is located closer to Pickett Mountain than Mount Chase. Based on the historical drill results, Pickett Mountain is one of the highest-grade undeveloped VMS projects in North America. The project has not been explored in 30 years and remains open at depth and along strike. Wolfden acquired the project last fall with financing from Altius Minerals Corp., after changes were implemented to Maine's mining code. The 6,870-acre property includes all mineral, mining and timber rights.

With drilling under way, the 2018 work program will also include, during the first quarter, detailed ground and airborne geophysical surveys over the main zone and the favourable package of host rocks. By defining the signature and characteristics of the main zone, the company hopes to identify other lenses of VMS mineralization in the wall rocks and along stratigraphic trend. All work is focused on developing a qualified resource estimate during 2018 that will be sufficient to study the economic potential of an underground mining scenario for the project.

The first two holes intersected massive sulphide mineralization in the west lens, above and below historical drill hole intersections. These intersections were targeted using the historical drilling information and as expected, exhibit similar widths and appreciable amounts of sulphide (pyrite, sphalerite, galena and chalcopyrite) mineralization. No assay results have been received to date and photographs of these drill intercepts will be available on the company's website. The drilling will continue to infill and confirm other holes in order to validate the historical information and to expand the extent of the known mineralization. Assay results will be released in due course.

The company has completed the previous announced non-brokered private placement with Ronald Little, a new and active director of the company, for gross proceeds of $217,500. Mr. Little subscribed for 750,000 units at 29 cents per unit, with each unit comprising one common share and one-half of a 60-month warrant with an exercise price of 61 cents per share, for a total of 750,000 common shares and 375,000 warrants. The common shares and warrants issued in connection with the private placement are subject to a four-month hold period under applicable securities laws that expires May 16, 2018. The private placement is subject to final acceptance of the TSX Venture Exchange.

About Wolfden Resources Corp.

Wolfden is a Canadian junior mining exploration company focusing on its core asset, the Pickett Mountain high-grade base metal project in Maine.

We seek Safe Harbor.