Mr. Brian Wesson reports

WOULFE MINING REPORTS DRILL RESULTS FOR THE SANGDONG DRILLING PROGRAM

Woulfe Mining Corp. has released assay results for samples associated with the drilling program at Sangdong. Drilling from underground locations at Sangdong is continuing and the results will be used to progressively update the resource estimate.

This batch of assay results consists of 16 holes, consisting of three holes drilled from Sangdong level and 13 holes drilled from minus-1 level. Most of the minus-1 level holes were 20 metres to 50 metres in length and targeted the Footwall zones. The Sangdong level holes were located toward the western end of the orebody and were 50 m to 80 m in length. Two of the holes targeted the Hangingwall zone and two were collared within the Main zone.

                                       True                              
               Interval    Length     width     Grade     Grade          
Hole                 (m)       (m)       (m)   (% WO3)  (% MoS2)

WSDD0122
Intersection   2.5-15.0      12.5      11.7      0.52      0.01
Includes        3.5-5.0       1.5       1.4      0.89      0.01
Includes       9.0-11.0       2.0       1.9      1.80      0.01
WSDD0126
Intersection    3.0-7.0       4.0       3.7      0.74      0.06
WSDD0136
Intersection   3.0-11.0       8.0       4.2      0.59      0.03
Includes       9.0-11.0       2.0       1.1      1.00      0.06
WSDD0124
Intersection    0.0-2.5       2.5       2.3      0.85      0.02
Intersection  12.0-14.0       2.0       1.9      0.85      0.03
WSDD0143
Intersection    0.5-9.0       8.5       8.5      0.37      0.07
Includes        1.5-3.0       1.5       1.5      0.56      0.05
WSDD0153
Intersection  28.0-35.0       7.0       7.0      0.40      0.09
Includes      31.0-35.0       4.0       4.0      0.49      0.13

Significant Footwall zone intersections include 11.7 metres true width at 0.52 per cent WO3 (WSDD0122), 3.7 metres true width at 0.74 per cent WO3 (WSDD0126) and 4.2 m true width at 0.59 per cent WO3 including 1.1 m true width at 1.00 per cent WO3 (WSDD0136).

The significant drilling results are summarized as below:

• A cut-off of 0.15 per cent WO3 was used for the intersection calculations.

• The drilling program is targeting the unmined mineralization in the upper section of the mine above the current water level for mine planning and feasibility reserve estimation purposes. The resource for this section of the mine was re-estimated following the completion of 90 holes in the current drilling program, resulting in an indicated resource of 16.4 million tonnes at 0.45 per cent WO3, 0.04 per cent MoS2 and an inferred resource of 19.4 million tonnes at 0.44 per cent WO3, 0.05 per cent MoS2 at a cut-off of 0.15 per cent WO3. The resource below the valley floor is 34,519,000 tonnes at 0.47 per cent WO3, 0.07 per cent MoS2 at a cut-off of 0.15 per cent WO3.

The samples are prepared on site in Korea to appropriate industry standards and sent to SGS Perth, Australia, for analysis. Samples are analyzed by inductively coupled plasma mass spectrometry and for ore-grade quantities of specific elements by aqua regia or four-acid digestion followed by ICP analysis. Molybdenum is analyzed by X-ray fluorescence. The quality assurance/quality control protocol consists of insertion of one standard, one blank (crushed glass) and one pulp duplicate in every batch of 20 samples. No QA/QC results are available as yet.

This news release has been reviewed and approved in the form and context in which it appears by Paul Gribble, FIMMM, CEng, of Tetra Tech Wardrop, who is working with Woulfe on the Sangdong studies. Mr. Gribble has appropriate qualifications and sufficient relevant experience to qualify as a qualified person for the reporting of exploration results and mineral resources for the Sangdong deposit.

We seek Safe Harbor.