WOF Woulfe Mining Corp.

Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX
VENTURE:WOF)(OTCQX:WFEMF)(FRANKFURT:OZ4) provides the following corporate
update.


As reported in the Company's press release dated May 17, 2013, the Company began
a comprehensive review of the June 6, 2012 Feasibility Study prepared for the
Sangdong Project as prepared by TetraTech WEI Inc. under the direction of
previous management. This review has been completed by the Company with the
assistance of its largest shareholder, Dundee Corporation, and has identified
that considerable additional test work is necessary (the "work program") to
bring the Sangdong Project to proper commercial and financing preparedness.


The new work program prescribed will include diamond drilling to better define
the ore body, in particular, those areas of the resource that could potentially
be mined in the early years of the mine's life. Additionally, further work must
be completed on mine design, mining method selection, metallurgical process
design, and much de-risking of other technical aspects of the Sangdong Project.
It is estimated that this work program will cost approximately $6 million to
complete.


Subject to financing, the proposed work program is expected to begin as soon as
possible and will take approximately twelve months to complete. In addition to
the funds required for the work program, the Company must also seek to raise
sufficient capital to fund its working capital deficit and 2014 administrative
costs. The total amount of the required financing has been determined to be
approximately $9 million, including the costs of the work program as described
above. The Company is in discussions with various parties to raise the necessary
capital and will provide a further update as soon as it is able.


On Behalf of the Board of Directors

Woulfe Mining Corp.

Hubert Marleau, Interim Chief Executive Officer and Director

About Woulfe Mining Corp.

Woulfe Mining Corp., through its wholly-owned subsidiary, Sangdong Mining
Corporation, is dedicated to 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 located outside of China.


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

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Woulfe Mining Corp.
Hubert Marleau
Interim Chief Executive Officer and Director
1-343-370-1943
hmarleau1@gmail.com


Woulfe Mining Corp.
Administration Office
+1 604 684 6264
+1 604 684 6242 (FAX)
www.woulfemining.com

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