Woulfe Mining Corp.

Woulfe Mining Corp.

July 06, 2011 09:00 ET

Woulfe Mining Requests Quotation for Crushing and Grinding Plant at Sangdong

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 6, 2011) - Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF)(OTCQX:WFEMF) in conjunction with Contromation Indonesia and Wardrop Engineers is proud to announce that the first design package for the ore crushing and grinding system for the Sangdong tungsten and molybdenum Project has been completed and is ready for initial quotation. The design package has been issued to reputable heavy engineering companies in South Korea for quotation.

This is a substantial milestone for Woulfe as it will provided real construction costs in South Korea for the pre-feasibility and feasibility studies due out in Q3 and Q4 2011, respectively.

The system is designed to crush ore at a rate of 2.4 million tonnes per annum and grind initially at 1.2 million tonnes per annum. There is the potential to increase the grinding rate if the tungsten market remains strong and/or the price of molybdenum increases. Two rod mills will be installed and a third could be added should circumstances prove viable for increasing the grinding rate.

Woulfe has a resource of 103.2 million tonnes at 0.35% WO3 and 0.04% MoS2. Further there is a historical high grade molybdenum target below the level 6 of the existing mine that has target grades as high as 0.4% MoS2. The target has had over 40 historical and two new drill holes drilled into the stockwork deposit. The Company intends to redrill the deposit in early 2012 once it achieves underground access to drill oblique holes to the mineralized veins. Woulfe is focused on publishing the updated resource numbers in Q3 2011, with pre-feasibility and feasibility studies completed later in the year, in order to move toward construction.

Brian Wesson, CEO and President of Woulfe Mining added, "Woulfe has a highly experienced multinational team on the ground in Korea, supported by Wardrop Engineers UK, SGS and Australian Mineral Consultants Vancouver and Melbourne."

On Behalf of the Board of Directors
Woulfe Mining Corp.

"Brian Wesson"

Brian Wesson (FAusIMM)
President, CEO and Director

About Woulfe Mining Corp.

Woulfe Mining Corp. 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.

The company's 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.

Woulfe has high expectations for near-term, low-cost production. The company has assembled a highly skilled, in-country, bilingual technical team and a board of directors with an outstanding track record of success.

Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information and even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the following: commodity price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; currency fluctuations; speculative nature of mineral exploration; global economic climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements.

There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the appropriate regulatory authorities.

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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