Mr. Ron Little reports

WOLFDEN CLOSES FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT OF UNITS

Wolfden Resources Corp. has closed the second and final tranche of its previously announced non-brokered private placement of units of the company, pursuant to which the company sold an additional 1.25 million units at a price of eight cents per unit for additional gross proceeds to the company of $100,000.

Under the offering, the company sold a total of 25 million units at a price of eight cents per unit for aggregate gross proceeds to the company of approximately $2-million.

Each unit comprises one common share of the company and one-half of one common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share at an exercise price of 12 cents per common share for a period of 24 months following closing of the final tranche of the offering.

The majority of the proceeds from the offering will be used to advance on the company's Rockland gold project in Nevada, working capital and general corporate purposes.

The offering remains subject to the final approval of the TSX Venture Exchange. No compensation was paid in respect of the final tranche of the offering. The securities issued pursuant to the final tranche of the offering are subject to a four-month hold period under applicable Canadian securities laws.

Related party transaction

Two insiders of the company purchased 2.5 million units and 1,875,000 units under the offering. Their participation in the offering is considered to be related party transactions within the meaning of TSX-V Policy 5.9 -- Protection of Minority Security Holders in Special Transactions and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions.

The company is relying on the exemption from a formal valuation available in Section 5.5(a) of MI 61-101 and the exemption from minority approval available in Section 5.7(a) of MI 61-101. The company meets the requirements set out in sections 5.5(a) and 5.7(a) of MI 61-101 because the fair market value of the securities being distributed to insiders, and the aggregate value of the common shares to be distributed under the offering are each less than 25 per cent of the market capitalization of the company.

Rockland property

The closing of the offering will satisfy the outstanding requirements of the TSX-V for the company to proceed with the earn-in agreement with Evergold Corp. to acquire up to a 75-per-cent interest in the Rockland property further to the company's news release dated Feb. 25, 2025. As part of the first stage earn-in under the earn-in agreement, the company has paid the first cash payment of $100,000 (U.S.) and Evergold has issued 275,000 shares of Evergold to the underlying claim owner. The earn-in agreement is in good standing and the company looks forward to commencing the drill program this month.

About Wolfden Resources Corp.

Wolfden is a North American exploration and development company focused on high-margin metallic mineral deposits including precious, base and critical metals that represent significant development projects with the potential to produce domestic supply of strategic metals.

We seek Safe Harbor.