Portfolio News
| June 14, 2010 Woulfe Mining Corp. Commences Bankable Feasibility Study at Sangdong Tungsten and Molybdenum Project | |
| Woulfe Mining Corp, (TSX-V: WOF) ("Woulfe" or, the "Company") is pleased to announce that it has commissioned Wardrop, a Tetra Tech Company to complete an NI 43-101 compliant Bankable Feasibility Study (BFS) on its Sangdong Tungsten -- Molybdenum deposit in South Korea. An NI-43-101 compliant Scoping Study was recently completed by Wardrop which demonstrated positive economics and the potential feasibility of reopening the Sangdong mine. The BFS is expected to be completed in the first half of 2011. The BFS will evaluate a 1.25 million tonne per annum (Mtpa) underground mining scenario to include ore treatment by gravity concentration and flotation for the production of a tungsten concentrate. The BFS will also consider an onsite refinery to produce an ammonium paratungstate ("ATP") product for direct sale. A molybdenum concentrate by-product will also be produced. Additionally, the study will consider the economic, social and environmental impacts of the mining operation on local stakeholders and the broader community. The potential for doubling capacity to 2.5 Mtpa will also be taken into consideration. "The initiation of the feasibility study represents a significant commitment to the future of Sangdong, and South Korea," stated Brian Wesson, CEO and President of Woulfe. "We look forward to a positive outcome helping to unlock shareholder value in Sangdong." Colin Lutherborrow MAusIMM a geologist with 30 years experience in underground mines and the delineation of resources and reserves is a Qualified Person as defined by National Instrument standards has read and approved this release. About Woulfe Mining Woulfe is a TSX-V listed company with a diversified portfolio of mining licences for tungsten, molybdenum, gold, base metals, uranium and 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 producing mine, as well as a number of other properties with significant known mineralization and excellent regional 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. On Behalf of the Board of Directors Woulfe Mining Corp. Brian Wesson President, CEO and Director For further information, please contact Ms. Amelia Wesson (Director), Vice President Admin and Investor Relations (+61416027449) or Nick Smith NSmith@nicolastreetcapital.com Telephone: +1.415.829.7865 info@woulfe.com.au 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. | |
