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Woulfe Mining Reports Continued Strong Drill Results from the Ongoing Sangdong Drilling Program VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 3, 2012) - Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF)(OTCQX:WFEMF) is pleased to announce assay results for samples associated with the drilling program at Sangdong. Drilling from underground locations at Sangdong is continuing and the results will be used to progressively update the Resource estimate.
This batch of assay results comprises 16 holes, of which nine were drilled from Sangdong Level and seven were drilled from raises between Sangdong and 1 Levels. Most were short holes of 30-50 metres length targeting the Footwall Zones between 1 Level and Taebaek Level. Two were longer holes to test all three zones, however both terminated at the Main Zone after intersecting stoped out areas.
Significant Footwall Zone intersections include 13.1 metres true width at 0.60% WO3 (WSDD0096), including 4.5 metres true width at 0.85% WO3, and 6.9 metres true width at 0.52% WO3 (WSDD0105). One hole intersected the Hangingwall Zone with an intersection was 7.3 metres true width at 0.35% WO3 (WSDD0100).
The significant drilling results are summarised as below:
Footwall Zones Hole Interval (m ) Length (m ) True Width (m ) Grade (%WO 3 ) Grade (%MoS 2 ) Zone WSDD0096 Collar 4111635N, 484762E, Azimuth 29, Dip +23, Depth 51m, Target F/W zones Intersection 12.0-29.5 17.5 13.1 0.60 0.12 F/W Includes 12.5-18.5 6.0 4.5 0.85 0.08 F3 Includes 27.0-29.5 2.5 1.9 1.46 0.01 F2 WSDD0104 Collar 4111755N, 484647E, Azimuth 22, Dip +46, Depth 30m, Target F/W zones Intersection 9.0-13.5 4.5 4.2 0.68 0.04 F2 WSDD0114 Collar 4111567N, 484890E, Azimuth 205, Dip -33, Depth 14m, Target F/W zones Intersection 2.0-6.5 4.5 4.2 0.58 0.08 F3 WSDD0105 Collar 4111722N, 484639E, Azimuth 134, Dip +57, Depth 65m, Target F/W, Main zones Intersection 15.0-23.5 8.5 6.9 0.52 0.28 F2 WSDD0106 Collar 4111735N, 484617E, Azimuth 359, Dip +25, Depth 50m, Target F/W zones Intersection 14.5-21.0 6.5 4.7 0.48 0.10 F3 Includes 14.5-17.5 3.0 2.2 0.74 0.01 F3 Intersection 29.5-35.0 5.5 4.0 0.75 0.08 F2
Significant drill intercepts, defined as any mineralisation of 1 metre lengths or longer, are presented in the tables above. A cut-off of 0.15% WO3 was used for the intersection calculations.
The drilling program is targeting the unmined mineralisation in the upper section of the mine above the current water level for mine planning and feasibility reserve estimation purposes. The resource for this section of the mine was re-estimated following the completion of 90 holes in the current drilling program, resulting in an Indicated Resource of 16.4 million tonnes at 0.45% WO3, 0.04% MoS2 and an Inferred Resource of 19.4 million tonnes at 0.44% WO3, 0.05% MoS2 at a cut-off of 0.15% WO3. The resource below the valley floor is 34.519 million tonnes at 0.47% WO3, 0.07% MoS2 cut off 0.15% WO3.
The samples are prepared on-site in Korea to appropriate industry standards and sent to SGS Perth, Australia for analysis. Samples are analysed by Inductively Coupled Plasma Mass Spectrometry (ICP) and for ore-grade quantities of specific elements by aqua regia or 4-acid digestion followed by ICP analysis. Molybdenum is analysed by X-ray fluorescence. The QA/QC protocol comprises insertion of one standard, one blank (crushed glass) and one pulp duplicate in every batch of 20 samples. No QA/QC results are available as yet.
This news release has been reviewed and approved in the form and context in which it appears by Mr Paul Gribble FIMMM, C.Eng, of Tetra Tech Wardrop, who is working with Woulfe on the Sangdong studies. Mr Gribble has appropriate qualifications and sufficient relevant experience to qualify as a Qualified Person for the reporting of exploration results and Mineral Resources for the Sangdong deposit.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson (FAusIMM), President, CEO and Director
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