WOF Woulfe Mining Corp.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 


Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX
VENTURE:WOF)(OTCQX:WFEMF)(FRANKFURT:OZ4) is pleased to announce that it has
engaged Dundee Securities Ltd. as lead agent ("Dundee" or the "Lead Agent") to
sell, on a reasonable commercial efforts basis, up to 20,000,000 units (the
"Units") of the Company at a price of $0.20 per Unit for aggregate gross
proceeds of up to $4,000,000 ("the "Brokered Offering"). The Units will be
comprised of one common share of the Company and one-half of one common share
purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be
exercisable into one common share of the Company at a price of $0.30 for a
period of 24 months following the date of issue.


The Company has granted Dundee an option to offer up to an additional 15% of the
Brokered Offering, being 3,000,000 Units, at the issue price, exercisable in
whole or in part at any time up to 48 hours prior to the closing date for the
Brokered Offering.


The Company has agreed to pay Dundee a commission of 5.0% of the gross proceeds
from the sale of the Units forming the Brokered Offering and to issue warrants
("Agent's Warrants") equal to 5.0% of the number of Units issued in the Brokered
Offering. Each Agent's Warrant will entitle the holder, on exercise, to purchase
one Unit of the Company at a price of $0.20 for a period of 24 months from the
completion of the Brokered Offering.


In addition to the Brokered Offering, the Company has arranged a non-brokered
private placement of a further 5,000,000 Units for aggregate proceeds of
$1,000,000 (the "Non-Brokered Offering" and together with the Brokered Offering,
the "Offerings").


The Offerings are expected to close on or about August 31, 2012. All securities
issued in connection with the Offerings will be subject to a minimum four month
hold period. The Offerings are subject to all required approvals, including the
approval of the TSX Venture Exchange.


The gross proceeds of the Offerings will be used for the advancement of the
Company's properties in South Korea, the repayment of short term debt and for
general working capital purposes.


The Company and Euro Pacific Canada Inc. have determined not to proceed with the
convertible debenture offering announced on June 6, 2012.


On Behalf of the Board of Directors

Woulfe Mining Corp.

Brian Wesson (FAusIMM), President, CEO and Director

About Woulfe Mining Corp.

In partnership with IMC, Woulfe is developing the Sangdong tungsten-molybdenum
mine which was historically one of the largest tungsten mines in the world and
one of the few long life, high grade tungsten deposits outside of China. The
Company has assembled a highly skilled, in-country, bilingual technical team and
a board of directors with an outstanding track record of success.


Woulfe Mining Corp. is a TSX-V listed company.

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.

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