Wolverine Minerals Corp.
TSX VENTURE : WLV
FRANKFURT : 4LP

Wolverine Minerals Corp.

November 28, 2011 12:30 ET

Wolverine Trenches 23.9 g/t Gold Over 3 m at the Dade Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2011) - WOLVERINE MINERALS CORP. (TSX VENTURE:WLV)(FRANKFURT:4LP) ("Wolverine" or the "Company") is pleased to announce initial positive results from its recently completed brown-field exploration program at its Dade property. The Dade is located about six kilometers northeast of the historical Mount Nansen Mine in the southern part of the Dawson Range, Yukon Territory. The Company identified a broad zone (37 m by 200 m) of altered wallrock with two gold mineralized veins that is open to extension at depth and along strike.

Key exploration activities consisted of satellite imagery interpretation, prospecting and geological mapping, reconnaissance and grid soil sampling (approximately 500 samples), magnetic and radiometric airborne geophysical surveys (over 200 line kilometres) and extensive CanDig and excavator trenching for approximately 800 m.

Highlights from the Trenching program include:

  • Delineation of a 200 m long vein/stockwork zone including the Grizzly Vein that is open along strike in both directions;
  • 12.48 g/t gold over 6 m including 23.9 g/t gold over 3 m and 10.14 g/t gold over 4 m across the previously identified Grizzly Vein;
  • 1.97 g/t gold over 9 m across a new sub-parallel vein; and
  • 1.71 g/t gold over 32 m across a stockwork zone that encompasses both veins and mineralized wallrocks

The 1700 hectare Dade property hosts epithermal style gold veins within Late Cretaceous to Tertiary, Prospector Mountain Suite hornblende quartz diorite. The property hosts the gold mineralized Grizzly Vein which was discovered in the 1920s. Most recent exploration was restricted to shallow trenching in the late 1980's and early 1990s. There is no outcrop in the vicinity of the trenches and the area is covered with frozen colluvium.

Modern exploration on the property commenced in early June 2011 when two CanDig excavators reopened and deepened the earlier bulldozer trenches. Discontinuous chip samples collected along the floors of 11 trenches returned anomalous, but variable results. Initial results ranged from background to 72.90 g/t gold (across 4 m). Re-analysis of initial samples at a different lab returned consistent results with a peak value of 76.10 g/t gold (across 4 m). This was followed by a sampling program based on continuous chip sampling. The same sample intervals were re-sampled and generally confirmed earlier results, but a few high grade intervals returned considerably lower values (72.90 vs. 5.97 g/t gold) while some others returned considerably higher values (0.681 vs. 23.90 g/t gold). Re-sample values ranged from background to 23.90 g/t gold (across 3 m).

Following receipt of these encouraging results, a larger excavator was mobilized to the property and a series of 100 m long trenches, spaced 25 m apart, were dug across the Grizzly Vein and surrounding wallrocks. None of these excavator trenches directly coincided with any of the CanDig trenches. Although a larger excavator was used, permafrost was still a serious impediment in previously un-trenched areas and some trenches could not be completed to bedrock. Continuous chip samples were collected along bedrock exposures, and composite samples of rock and soil were taken from the trench floors where no bedrock was available.

Excavator trenching systematically exposed the Grizzly Vein in all but one trench over a strike length of 200 m. The vein generally consists of a single well-defined epithermal quartz vein with a narrow halo of silicified wallrock. However, in some trenches a second, sub-parallel vein, grading 1.97 g/t gold over 9 m, was exposed and the intervening wallrock was weakly fractured and mineralized, to produce a broad stockwork zone. The vein/stockwork exposures vary from 8 to 37 m in width. Table I lists highlights from excavator trenching along the Grizzly Vein (Figure 1 or the link below).

http://www.wolverineminerals.ca/i/pdf/F_1_Dade_news_release.pdf

Table I - Excavator Trenching from the Grizzly Vein

Trench Machine From (m) To (m) Length (m) Gold (g/t)
TR-11-A Excavator 39.5 49.0 9.5 0.97
TR-11-B Excavator 82.0 90.0 8.0 0.84
TR-11-C Excavator 63.0 71.0 8.0 1.27
TR-11-D Excavator 56.0 93.0 37.0 0.86
including 56.0 67.0 11.0 1.01
and 84.0 93.0 9.0 1.97
TR-11-E Excavator 67.0 99.0 32 1.71
including 71.0 75.0 4.0 10.14
TR-11-F Excavator 69.0 78.0 9.0 1.50
TR-11-G Excavator 95.0 104.0 9.0 1.19
TR-11-07 CanDig 4.0 15.0 11.0 4.88
TR-11-09 CanDig 0.0 6.0 6.0 12.48
TR-11-10 CanDig 12.0 19.0 7.0 4.29

Soil samples were also taken just above bedrock on the floor of all trenches. These samples returned values between background and 7260 ppb gold compared to background and 166 ppb gold from samples taken closer to surface by conventional soil sampling techniques. This marked increase with depth is attributed to the thick layer of frozen colluvium that blankets most of the property, inhibiting soil collection and hiding mineralization.

Preliminary geophysical interpretation from the airborne survey show complimentary features, which may represent along-strike continuations of the Grizzly Vein and associated structures northeast of the trenching area.

Jim Dawson, Vice President of the Company commented, "The 2011 exploration program was highly successful because it significantly expanded the area of interest, confirmed the tenor of known mineralization, discovered a new vein and identified potential for broad structural zones. The Grizzly Vein and related stockwork mineralization are considered priority targets for continued trenching and diamond drilling in 2012."

Analytical work was done by ALS Chemex with sample preparation in Whitehorse, Yukon and assays and geochemical analyses in North Vancouver, British Columbia. All rock samples were initially analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 35 other elements by inductively coupled plasma and atomic emission spectrometry (ME-ICP41). Overlimit values for gold were determined by fire assay and gravimetric finish (Au-GRA22). All blank and standard samples passed QAQC reviews. Soil samples were dried, screened to -180 microns, and then analyzed for 35 elements using an aqua regia digestion followed by inductively coupled plasma and atomic emission spectrometry (ME-ICP41). An additional 30 g charge was further analyzed for gold by fire assay fusion with inductively coupled plasma and atomic emission spectrometry (Au-ICP21).

Re-analyses of original CanDig trench samples was done by ACME Labs in Vancouver, British Columbia. Coarse rejects from ALS Chemex were crushed, split and pulverized to 200 mesh before being processed by lead collection fire-assay fusion with AAS finish and lead collection fire assay 30 g G-Fusion with gravimetric finish. Blank and standard samples were inserted into the sample series with coarse rejects. All standard and blank samples passed QAQC reviews.

The 2011 fieldwork was conducted by Archer, Cathro & Associates (1981) Limited under the supervision of Heather Smith, P.Geo. and the guidance of James M. Dawson, P.Eng., who are both qualified persons as defined by National Instrument 43-101. The technical data in this news release has been reviewed and approved by Ms. Smith and Mr. Dawson.

WOLVERINE MINERALS CORP.

Thomas A. Doyle, President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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