Drilling by Woulfe Mining at the Sangdong tungsten-molybdenum project has confirmed high grade mineralization within the Main Zone. An intersection in this zone exceeded company expectations with a true width of 18.3 metres at an average grade of 0.91% tungsten.1

Woulfe has received drill results for the third batch of samples from the drilling program. Of the seven holes, one intersected the Main Zone and four intersected the Footwall Zone. The other two holes did not achieve their objectives.

The company’s CEO Brian Wesson says, “The high grade, large intersection confirmed by this drilling is significant as none of the main ore body was included in the scoping study resource. The drilling focused on the three ore zones above the valley floor that we are targeting for early low cost production during the first 10 years.”

The current 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 tungsten-molybdenum mineralization at Sangdong is hosted within three parallel, shallow-dipping skarn zones (Main, Hangingwall and Footwall) with a lateral extent of up to 1200 metres along strike and 1500 metres down dip.

The initial drilling program comprising about 40 holes has been completed and a second phase drilling program is under way. The electric rig will continue to operate on Sangdong Level drilling up-holes targeting all three veins, and the two air-operated Kempe rigs will move to 1 Level once access rehabilitation is complete and target the Hangingwall Zone.

Meanwhile, with the feasibility study in progress at Sangdong, the structural design of crushing and grinding areas are well advanced and the process plant position has been locked in, which will allow the civil design work to commence. The feasibility study is being undertaken by Wardrop, a Tetra Tech Company.

The detailed structural engineering design of the process plant is being undertaken by Contromation Energy Services of Jakarta in conjunction with Woulfe and Wardrop. Representatives of Contromation visited Sangdong in April to inspect the site and discuss the plans with a Korean counterpart who will review the drawings for conformity with Korean design standards.

A Wardrop geotechnical/tailings specialist will be on site for a week this month to review the surface geotechnical program for both the plant site and the site of a proposed tailings dam. With respect to tailings, Woulfe's preference is to cement-fill the underground cavities, however, there may be a requirement for some surface storage facility particularly in the initial years.

Woulfe is a TSX-V listed company with a diversified portfolio of mining licenses for tungsten, molybdenum, gold, base metals and uranium-vanadium in South Korea. Its current projects include the Sangdong tungsten-molybdenum mine, historically, one of the largest tungsten mines in the world, the Muguk gold-silver mine, formerly South Korea's largest gold mine, as well as a number of other properties with significant known mineralization and excellent regional exploration potential.

www.woulfemining.com

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