FSC / Press Release
Wolfe Mining Corp. Receives Mining License for Sangdong Tungsten and Molybdenum Project
Vancouver, British Columbia CANADA, June 07, 2010 /FSC/ - Woulfe Mining Corp. (WOF - TSX Venture), ("Woulfe" or the "Company") is pleased to announce that on the 7th June 2010 Woulfe has been advised by the Gangwon Province in South Korea that they have approved the mine development license for Sangdong tungsten-molybdenum project. The Company will lodge an environmental bond in the coming week and proceed to open the underground mine in conjunction with the mine safety authority.
"This is a significant milestone for the Company in our aggressive mine development plan," stated Brian Wesson, CEO and President of Woulfe. "The speed with which the application was processed, we believe, is an indication of South Korea and Gangwon Province's positive desire to see hard rock mining resume in a manner that compliments the needs of the local community and environment."
About Woulfe Mining
Woulfe is a TSX-V listed company with a diversified portfolio of mining licences for tungsten, molybdenum, gold, base metals, uranium and vanadium in South Korea.
The Company's current projects include the Sangdong tungsten-molybdenum mine, historically, one of the largest tungsten mines in the world; the Muguk gold-silver mine, formerly South Korea's largest gold producing mine, as well as a number of other properties with significant known mineralization and excellent regional potential.
Woulfe has high expectations for near-term, low-cost production. The Company has assembled a highly skilled, in country, bilingual Technical Team and a Board of Directors with an outstanding track record of success.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson
President, CEO and Director
For further information, please contact Ms. Amelia Wesson (Director), Vice President Admin and Investor Relations (+61416027449) or
Nick Smith
NSmith@nicolastreetcapital.com
Telephone: +1.415.829.7865
info@woulfe.com.au
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; 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.
This information is available on our website at www.woulfemining.com
Source: Woulfe Mining Corp. (TSXV WOF)
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