Mr. Ron Little reports

WOLFDEN CONTINUES TO HIT HIGH-GRADE IN DEEP DRILLING AT PICKETT MTN.

Additional deep drill holes in Wolfden Resources Corp.'s continuing infill and expansion drill program on its wholly owned Pickett Mountain project in Maine have intersected high-grade massive sulphide mineralization in the west lens of the deposit.

Drill hole 22A, a wedge hole driven from and above the previously announced hole 22, intersected the west lens at a vertical depth of 520 metres from surface (approximately 40 metres above hole 22). The massive sulphide intersection is 5.9 metres in core length and contains 24.0 per cent zinc, 11.8 per cent lead, 1.0 per cent copper, 324 grams per tonne silver and 1.4 g/t gold. Hole 22, announced on July 9, 2018, intersected 4.7 metres of 24.0 per cent Zn, 10.0 per cent Pb, 0.9 per cent Cu, 267 g/t Ag and 1.6 g/t Au. These grades are among the best in the deposit and similar to the deepest intersection at 800 metres where the deposit remains open. True widths are approximately 70 per cent of the core length.

In another wedge hole, 23A, driven from and above hole 23, assay results are pending for multiple intercepts of massive sulphide mineralization. This intersection is located 70 metres east of hole 22A and 30 metres above hole 23, at approximately the same depth of 520 metres. Of interest, in this area there are multiple lenses of massive sulphides with hole 23 returning 2.5 metres at 20.3 per cent Zn, 3.8 per cent Pb, 1.4 per cent Cu, 78 g/t Ag, 1.0 g/t Au, and 5.9 metres at 7.5 per cent Zn, 3.2 per cent Pb, 1.3 per cent Cu, 65 g/t Ag and 0.7 g/t Au (see press release dated Aug. 1, 2018).

The above drill intercepts in combination with recently released results, comprise the deepest drilling completed by the company to date in the west lens and clearly demonstrate the potential to expand resources below a depth of 400 metres, where there was minimal historical drilling. The latest results can be viewed on an updated vertical longitudinal drill section in the Pickett Mountain presentation on the company website.

Furthermore, continuing exploration work both local and regional to the main deposit, includes prospecting, geological mapping, soil sampling and trenching on a number of prospective targets generated by the company's airborne VTEM (versatile time domain electromagnetic) and ground IP (induced polarization) geophysical surveys. Several VTEM conductors display similar geophysical signatures to those associated with both the east and west lenses of the Pickett Mountain deposit and will be drill tested in further efforts to discover additional massive sulphide lenses.

A second and larger drill rig is expected to arrive on the property in the coming weeks and will focus on the deeper expansion drilling and allow the current smaller rig to focus on more shallow intersections in the main zone and other exploration targets.

The company is in the process of modelling the historical and recent drill results in order to generate an initial National Instrument 43-101-compliant mineral resource estimate during the fourth quarter and could be further updated in 2019 as the drilling continues.

Quality assurance/quality control

Wolfden adheres to strict quality assurance and quality control protocols including routine insertion of blanks and certified reference standards in each sample batch of drill core that is sent to the lab for analyses. Drill core samples are split in half using a diamond saw with one-half saved for reference and the other half shipped via secure transport to Activation Laboratories sample preparation facility in Fredericton, N.B. Core samples are analyzed for zinc, lead and copper utilizing sodium peroxide fusion, acid dissolution followed by ICP-OES (inductively coupled plasma optical emission spectroscopy) (code 8). Gold is analyzed by fire assay (30 g) utilizing atomic absorption finish (code 1A2) and samples with over five g/t are analyzed by fire assay with gravimetric finish (code 1A3). Silver is analyzed by fire assay with gravimetric finish (code 8-Ag). The information in this news release has been prepared and approved by Don Hoy, PGeo, senior vice-president, exploration, and Ron Little, PEng, president and chief executive officer for the company, who are both qualified persons under National Instrument 43-101.

About Wolfden Resources Corp.

Wolfden Resources is a Canadian exploration and development company focused on advancing its wholly owned high-grade (Zn, Pb, Cu and Ag) volcanogenic massive sulphide Pickett Mountain project in Maine.

We seek Safe Harbor.