Wolverine Exploration Inc.
OTC Bulletin Board : WOLV
OTCQB : WOLV

Wolverine Exploration Inc.

February 17, 2011 09:02 ET

Wolverine Exploration Announces Results of IP Survey at Cache River

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 17, 2011) - Wolverine Exploration Inc. ("Wolverine") (OTCBB:WOLV)(OTCQB:WOLV) is pleased to announce an update to the ongoing exploration program on its Cache River copper-gold property in Labrador.

The final report on the recently completed induced polarization (IP) survey by Abitibi Geophysics has been received and reviewed by Wolverine. The report outlines a number of chargeability anomalies that require follow-up by prospecting and drilling. Some additional IP work is suggested to further outline newly detected targets that are open along strike and extend beyond the survey grids.

The Abitibi report outlines a chargeability anomaly (CR1-01) on Grid One that is located adjacent to an airborne electromagnetic (EM) conductor that was detected from a 2007 AeroTEM survey and is located close to previous drillhole DDC04-10. Further prospecting will be undertaken to establish the strike extent and composition of this combined EM-IP target. The CR1-01 anomaly extends from Line 68,800E to 70,600 on Grid One for a strike length of 1.8 km and is present on 13 of 19 survey lines. A second target CR1-05 is located approximately 650 m north of CR1-01 and extends for a strike length of 1 km as an anomalous chargeability response continuous on 10 of 11 survey lines. CR1-05 is a Priority One target. A third target CR1-06 is located about 150 m south of CR1-05 and extends for a strike length of 1.5 km, also a Priority One target.

On Grid Two are located several chargeability anomalies with high associated resistivity that is more suggestive of bedrock sulphide conductors than overburden. These targets are generally shallow (within 10 – 15 m of surface) and could be targeted by shallow drilling. Anomalies CR2-06 and CR2-07, for example, have strike extents of 1.3 km and 1.0 km respectively and are both Priority One targets. Both anomalies are open to the southwest and extend beyond the survey grid.

Also on Grid Two are a series of chargeability anomalies (CR2-01, CR2-02 and CR2-03) that are located in close proximity to previously discovered malachite showings in rock cuts along the Trans Labrador Highway. These three anomalies could represent copper-carrying sulphide mineralization that has leached out the malachite. These anomalies are all open to the northeast ad have strike lengths ranging from 325 m to 900 m.

The Abitibi report recommends a total of 11 drillholes (or 600 m of drilling) to test the best targets with additional trenching and more IP surveying to fully delineate IP anomalies that remain open along strike or are still unexplained. Ground-checking is recommended prior to drilling to ensure the proposed drill collars can be accessed.

Commenting on the report, Wolverine President & CEO Lee Costerd commented, "The report has identified specific areas that can be directly targeted by drilling. These targets could represent disseminated sulphide carrying copper and gold. This is our target at Cache River and we intend to follow-up with a drill program to test all the targets that have been identified from this survey."

Wolverine is currently negotiating the drill contract and will plan to test the IP targets as early as March 2011.

On behalf of the Board

Lee Costerd, President

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the results of the IP survey and future drilling, prospecting and geophysics.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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