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Oct 09, 2012
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Woulfe Mining Announces First Blast of Production Portal
of Sangdong Project
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Vancouver, BC, Canada -- October 9th 2012 --
Woulfe Mining Corp. ("Woulfe" or the
"Company") (TSX-V: WOF, OTCQX: WFEMF,
Frankfurt: OZ4)
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is pleased to announce that the first blast took place as
scheduled on October 8th, 2012 at the Sangdong tungsten/
molybdenum project in South Korea. The new portal has
been named the "Woulfe drive", after the parent
company.
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The initial production area is only 50 metres from the
current portal position. The development of the six metre
square access drive, will take 60 days to reach the
initial mining area.
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Having all mining permits in place, Woulfe is able to
focus on mining the high grade eastern section of the
main and footwall mineralization, over the next 12
months. Run of mine ore will be stockpiled on surface
pending the completion of the crushing plant mid next
year. The ore will then be crushed to passing 10mm, and
then stockpiled until the mill and flotation plant are
completed in the latter part of 2013.
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Woulfe currently has 68 staff on site, mining and
preparing the site for construction. Trial mining and
exploration has yielded over ten thousand (10,000) tonnes
currently stockpiled on surface.
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Brian Wesson, CEO & President commented: "Having
lost time completing Woulfe's strategic agreements
with IMC, we are now completely focused on bringing
Sangdong to production and achieving positive cash
flow".
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On Behalf of the Board of Directors
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Woulfe Mining Corp.
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Brian Wesson (FAusIMM)
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President, CEO and Director
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About Woulfe Mining Corp "Unearthing Global
Assets"
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Woulfe Mining Corp is focused on 'Unearthing Global
Assets' through the recognition and development of
undervalued natural resource projects. Woulfe
differentiates itself by boasting significant technical
expertise in the design, development and operation of
mining projects.
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Our flag ship project is the Sangdong tungsten mine in
South Korea, historically the world's largest
tungsten mine for over 40 years. Sangdong is expected to
return to production by Q4 of 2013. Woulfe has entered
into strategic agreements with International Metalworking
Companies B.V. ('IMC'), part of the Berkshire
Hathaway group of companies. This partnership brings
strategic advantage given Woulfe's mining and
processing technical abilities and IMC's downstream
manufacturing skills, high level of innovation and
quality of products sold into the global tungsten market.
Woulfe Mining Corp. is a Canadian TSX-V listed company.
Further information can be found on Woulfe's website
| www.woulfemining.com |
or on
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Woulfe Mining Corp.
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Administration Office
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+1 604 684 6264
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+1 604 684 6242 (FAX)
| www.woulfemining.com |
or
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Nicola Street Capital
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Nick Smith
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Mobile phone +1 (415) 595-0865
| 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. |
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; failure to
complete the strategic arrangement described in this
release, including because of the failure to satisfy the
conditions to closing of the transaction, 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. |
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. |
WOULFE MINING CORP. 
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