Wolfden Resources Corporation released an initial NI 43-101 compliant Mineral Resource Estimate for its wholly owned Nickel Island Deposit (the "Deposit"), a Nickel-Copper-Cobalt and PGE Project in northern Manitoba and provide guidance on an upcoming winter exploration program. The Deposit consists of a steeply-south-dipping panel of nickel-bearing sulphide mineralization that can be traced for 900 metres along strike and to 400 metres depth and appears open in all directions. This Mineral Resource is based only on nickel and copper values since the historical work did not include the analysis for other typical metals such as cobalt, gold, platinum and palladium.

However, the results of independent site visit verification sampling of the historical Nickel Island Deposit drill core exhibited better than expected values of palladium and platinum that averaged 0.72 g/t and 0.21 g/t, respectively in 11 samples, that averaged 2.32% Ni and with highs of 0.15 g/t Au, 2.72 g/t Pd, 0.67 g/t Pt and 0.08% Co in a sample that returned 7.43% Ni and 0.49% Cu. The addition of these un-assayed metals could represent some significant upside to the potential economic importance of the Deposit and any extensions. The next drill program will include analysis for these metals.

Higher nickel grades are possible in the Project area, as reflected in drill hole results that included 4.33% Ni and 0.37% Cu over 4.3 metres (estimated true thickness). In addition, the Property hosts numerous untested conductive zones and associated magnetic highs, which are similar in character and trend to the Nickel Island Deposit. These untested zones represent some very encouraging drill targets and potential to further expand Mineral Resources.