Woulfe Mining Corp.

Woulfe Mining Corp.

February 17, 2015 09:00 ET

Woulfe Announces Termination of Almonty Letter Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2015) - Woulfe Mining Corp. ("Woulfe" or the "Company") (CSE:WOF)(FRANKFURT:OZ4) -

Woulfe Mining Corp. announces that, further to its press release dated January 27, 2015, the board of directors of the Company has unanimously determined to terminate the letter agreement dated January 20, 2015 between the Company and Almonty Industries Inc. ("Almonty") and the proposed merger transactions contemplated thereunder. The $150,000 bridge loan provided by Almonty will become due on April 30, 2015.

Woulfe also announces with regret that Mr. David Constable has resigned as a Director and as Chairman of the Board of Directors of the Company for health reasons. His presence will be missed and the Company wishes to acknowledge Mr. Constable's immeasurable contributions and high moral standing that he brought to the Board of Woulfe.

On Behalf of the Board of Directors

Woulfe Mining Corp.

Michel Gaucher, CEO and Director

About Woulfe Mining Corp.

Woulfe Mining Corp., through its wholly-owned subsidiary, Sangdong Mining Corporation, is dedicated to developing the Sangdong tungsten-molybdenum mine which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits located outside of China. Woulfe Mining Corp. is listed on the Canadian Stock Exchange.

Forward-Looking Information: This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the timing of the feasibility study update, the potential of the Sangdong project, engineering and mine planning, general future plans and objectives for the Sangdong project are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our annual filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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