Mr. Michel Gaucher reports

WOULFE MINING CORP. ANNOUNCES PROPOSED ISSUANCE OF SHARES

Subject to approval of the Canadian Stock Exchange, Woulfe Mining Corp. will be issuing 174,000 common shares, at a deemed price of five cents per common share, to one of its service providers in South Korea as partial compensation for continuing services, and 136,363 common shares, at a deemed price of 5.5 cents per common share, to one of its service providers in Canada as partial compensation for continuing services.

The common shares issued for services will be subject to a four-month hold period from the date of their issuance.