Portfolio News
| June 28, 2010 Woulfe Mining Corp. Gold Results Confirm Historic Information | |
| Woulfe Mining Corp. (TSXV: WOF) ("Woulfe" or the "Company") has achieved positive results from its first hole into the Muguk gold prospect in South Korea. The purpose of diamond drill hole MG-1 was to verify the position of Vein No.7 outlined by historical drilling from the 1980's. The Woulfe Mining hole intersected six metres of the No. 7 quartz vein from a depth of 414.3m in the exact position predicted by the historical data. The true width of the vein is estimated at around 3m. Historical sampling of Vein No.7 at Muguk suggested the mineralisation within the vein is variable with historical 1m assays varying from below detection limit to 384 g/t. There were two significant assays encountered within the vein in diamond drill hole MG-1. Sample 1327 414.3m to 415.3m 3.3 g/t gold 14 g/t silver Sample 1328 415.3m to 416.3m 7.8g/t gold 38g/t silver These samples were located on the eastern margin of the vein and represent a horizontal thickness of 1m with an average grade of 5.5g/t gold and 26g/t silver. The hole continued to a depth of 700m in order to define better the geological setting of the deposit. A second diamond drill hole has commenced to test an area of Vein No.7 at 100m to the north and 80m higher than diamond drill hole MG-1. This hole has a planned depth of 450m and results are expected to be announced in early August. Colin Lutherborrow MAusIMM is a geologist who has 30 years experience in underground mines and the delineation of resources and reserves. Mr. Lutherborrow is a Qualified Person as defined in the Canadian National Instrument 43-101 and has read and approved this release. 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, 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 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" Brian Wesson President, CEO and Director For further information, please contact Woulfe Mining Corp. Ms. Amelia Wesson Director, Vice President Administration and Investor Relations Tel.: 6141-602-7449 Amelia.w@woulfe.com.au or Nick Smith NSmith@nicolastreetcapital.com Tel.: (415) 829-7865 info@woulfe.com.au www.woulfemining.com 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. 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. 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. | |
