Wolfe Mining Corp. Receives Mining License for Sangdong Tungsten and Molybdenum Project

Woulfe Mining Corp., a Canada-based mining company, announced that on the 7th June 2010 Woulfe has been advised by the Gangwon Province in South Korea that they have approved the mine development license for Sangdong tungsten-molybdenum project.Asian Metal Copyright6 million tonnes grading 0.Asian Metal Copyright The Company will lodge an environmental bond in the coming week and proceed to open the underground mine in conjunction with the mine safety authority.

"This is a significant milestone for the Company in our aggressive mine development plan," stated Brian Wesson, CEO and President of Woulfe. "The speed with which the application was processed, we believe, is an indication of South Korea and Gangwon Province's positive desire to see hard rock mining resume in a manner that compliments the needs of the local community and environment."

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.

In March 1989 KORES (Korean Engineering Co.) reported a tungsten historial "remnant ore reserve" of 189 million pounds of tungsten oxide (WO3) from 15.Asian Metal Copyright55% WO3 in the "east ore body".Asian Metal Copyright6 million tonnes grading 0.Asian Metal CopyrightWoulfe Mining Corp.Asian Metal Copyright5% WO3 per tonne in the "main ore body" and 1.Asian Metal Copyright In March 1989 KORES Korean Engineering Co.Asian Metal Copyright4 million tonnes at 0.Asian Metal Copyright5% WO3 per tonne in the "main ore body" and 1.Asian Metal Copyright55% WO3 in the "east ore body".

Woulfe has high expectations for near-term, low-cost production.