Grey Wolf Exploration Inc. TSX : GWE

March 31, 2006 17:00 ET

Grey Wolf Files 2005 Disclosure Documents

CALGARY, ALBERTA--(CCNMatthews - March 31, 2006) -

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Grey Wolf Exploration Inc. (TSX:GWE) ("Grey Wolf") today announced that it has filed with Canadian securities regulators, its audited financial statements for the year ended December 31, 2005 and related Management's Discussion and Analysis and its Initial Annual Information Form ("AIF"), which includes the statement of reserves data and other oil and gas information as required under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. These documents are available on SEDAR (the System for Electronic Document Analysis and Retrieval) at www.sedar.com and on Grey Wolf's website at www.greywolf.ca.

Grey Wolf is an Alberta-based, junior oil and natural gas company involved in the development and production of natural gas and crude oil in the Western Canadian Sedimentary Basin. Its common shares trade on the Toronto Stock Exchange under the symbol "GWE".