Mr. Donald Hoy reports

WOLFDEN RESOURCES DISCOVERS MASSIVE SULPHIDE MINERALIZATION IN FIRST TARGET DRILLED AT TETAGOUCHE

Wolfden Resources Corp. has intersected a zone of massive sulphide mineralization at the first target being tested by drilling on the company's 100-per-cent-owned Tetagouche property. The property, comprising greater than 20,000 hectares, is located in the prolific Bathurst mining camp, 25 kilometres west of the city of Bathurst in northeastern New Brunswick.

The company is currently drilling the primary target areas known as Rocky Turn and V10.

Rocky Turn target area

The first target of the current program is a coincident geophysical and soil geochemical anomaly (lead-zinc-copper) located to the east of the Rocky Turn massive sulphide deposit that contains a historical resource of 130,000 tonnes grading 8.43 per cent zinc, 2.69 per cent lead, 0.28 per cent copper, 101 grams per tonne silver and 3.1 grams per tonne gold (1).

Work completed in 2014 defined a maximum-minimum electromagnetic conductor with a strike length in excess of 400 metres located to the east of the deposit. Coincident with the electromagnetic anomaly are lead-zinc-copper soil anomalies. The first two holes have tested the western end of this anomaly, spaced at 100-metre intervals, and have intersected base metal-bearing massive sulphides, with the eastern hole returning a 7.7-metre-wide intercept: an intersected width that exceeds any massive sulphide intercept historically drilled in the Rocky Turn deposit. The conductor extends for several hundred metres to the east and is untested.

The first hole (T-14-01) collared on line 1400W, intersected 0.2 metre of massive sulphide at an approximate vertical depth of 50 metres. Stepping out 100 metres to the east, drill hole T-14-02 collared on line 1300W, intersected 7.7 metres of massive sulphide at a vertical depth of 60 metres. Both massive sulphide intersections are bounded by sericite-chlorite alteration zones with mineralization remaining completely open at depth and along strike to the east. Drilling will continue to test the on-strike and depth extensions of this new discovery. The company expects to have assay results for these first two holes next week. Assay results will be released as they become available

Drilling on the Rocky Turn target comprises part of a larger drilling program that also includes the V10 target area. Recent work on V10 has identified several geophysical and geochemical anomalies thought to be prospective as bedrock source areas for several high-grade massive sulphide boulders located nearby (see Wolfden news release dated Oct. 21, 2014). Drilling will commence on the V10 targets following the completion of drilling of the new discovery at Rocky Turn.

The technical information in this news release has been prepared and approved by Donald Hoy, PGeo, president and a director of the company. Mr. Hoy is a qualified person under National Instrument 43-101.

(1): All of the deposits are historic estimates that are not compliant with NI 43-101 and cannot be relied upon for valuation purposes. A qualified person has not done sufficient work to classify the above historic estimates as current mineral resources and accordingly, the company is not treating the historical estimates as current mineral resources.

We seek Safe Harbor.