Mr. Brian Wesson reports

WOULFE MINING APPROVES KOREAN ZINC CO LTD INVESTMENT AT ANNUAL GENERAL MEETING

Woulfe Mining Corp. approved the investment of Korea Zinc Co. Ltd. into the company's wholly owned Korean subsidiaries at the annual general meeting on Friday, Jan. 21, 2011. As reported in Stockwatch on Jan. 5, 2011, the proposed investment would have Korea Zinc invest $38-million to receive a 51-per-cent stake in the subsidiary which holds the Sangdong tungsten/molybdenum project and $1.8-million into Muguk Gold Corp. to acquire 51 per cent of that project.

Other resolutions passed at the meeting included agreeing the new stock option plan, setting the number of directors to six and reappointing the previous directors. Yun Birm Choi was also appointed to the board. Mr. Choi holds a juris doctorate degree from the United States and is an executive director of Korea Zinc. He is currently serving as a chief executive officer of ICM Pachapaqui SAC in Peru and vice-president of Pan Pacific Metal Mining Corp. in Canada. ICM Pachapaqui and Pan Pacific Metal Mining are wholly owned subsidiaries of Korea Zinc.

"We welcome Mr. Choi to our board and know that his advice and assistance will be very valuable to Woulfe as we continue to build value in Korea for shareholders," stated Brian Wesson, president, chief executive officer and director of Woulfe.

We seek Safe Harbor.