IMC Completes Due Diligence and Moves Toward Closing Strategic Transaction With Woulfe

Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX
VENTURE:WOF)(OTCQX:WFEMF)(FRANKFURT:OZ4) Today, Woulfe Mining received
confirmation from IMC International Metal Working Company ("IMC") that IMC is
satisfied with the results of its due diligence of the Sangdong project, as
required by the transaction agreements executed on February 26, 2012 (the
"Transaction Agreements"), and will be working toward closing its investment in
the Sangdong project, subject to the remaining conditions to the transaction. 


Brian Wesson, CEO and President, commented; "The successful completion of due
diligence marks an important milestone in the development of the Sangdong
project. We look forward to working with IMC towards the completion of the
transactions contemplated by the Transaction Agreements."  


On Behalf of the Board of Directors 

Woulfe Mining Corp. 

Brian Wesson (FAusIMM), President, CEO and Director 

About Woulfe Mining Corp "Unearthing Global Assets" 

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. 


Our flagship 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 [e-mail]. 


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.