Wolfden Resources Corporation announced a seven hole, 2,500 metre expansion drill program is underway on its wholly owned Rice Island Nickel-Copper-Cobalt and PGE Project in northern Manitoba. The Deposit consists of a steeply plunging, U-shaped, nickel sulphide-enriched keel and intersecting feeder zone with an underground mineral resource estimate containing 4.3 Mt at 1.1% NiEq Indicated and 3.4 Mt at 0.9% NiEq Inferred mineral resources. The current program is designed to test at least five different target areas and include the following: Testing the Keel of the Rice Island Deposit with a significant, 150 metre down plunge, step-out to the known deposit into an area of no previous drill data.

This hole is expected to be close to 700 metres long and should intersect the modeled base of the Keel Zone at approximately 600 metres below the surface (Figures 1-3). This is a material step-out to the previous deepest most intersection and if successful, could increase the down-plunge extent of the deposit by up to 30%; A step-out hole, 125 metres down dip of the known feeder zone into an untested area along a potential southwest plunge of the Feeder Zone, with an intercept expected at 350 metres below surface. Conductive zones associated with the Feeder Zone are quite extensive and indicative of the excellent potential to expand resources; A 450-metre-long hole to test an area, immediately to the east and along strike of the Rice Island deposit here another nickel-bearing gabbro body may be located at a structural rotation zone.

A 200-metre-long hole to test a nearby, untested electromagnetic conductor. Two holes to test the Eureka Island nickel zone with one hole to test a new conductor and the other hole to test an area of gabbro-hosted nickel mineralization. The Rice Island deposit is also gabbro-hosted.

The program could be expanded in real time pending the intersection of visually-positive nickel sulphide mineralization in any of the five target areas. The program had planned to test the Fly nickel sulphide zone in the eastern portion of the property, however. a nearby powerline has interfered with the recent geophysical survey and further field validation will be required in the area of the mineralization to finalize drill targets.

The Rice Island Ni-Cu-Co-PGE sulphide deposit is comprised of a `keel' of higher-grade mineralization where previous drilling returned intercepts of up to 14.7 metres grading 3.63% nickel, 1.13% copper, 0.12% cobalt (March 22, 2016, true width approx. 5 m) and a `feeder-dyke-type' zone that returned intercepts of up to 21.1 metres of 2.4% nickel, 1.3% copper and 0.16 g/t PGE2 (April 12, 2016, true width approx. 10.6 m).

The Keel Zone has been traced for 600 metres down-plunge and remains open down-plunge while the Feeder Zone is open along strike and at depth.