Wolfden And Kinross To Expand Mineral Resources At Picket Mountain

THUNDER BAY, ON - Wolfden Resources Corporation has completed a non-brokered private placement with Kinross Gold Corporation. Kinross now holds approximately 9.7% of the issued and outstanding shares of the Company. The shares issued to Kinross are subject to a four-month hold period under applicable Canadian securities laws.

The majority of the proceeds from the Offering will be used to explore the Company's 100%-owned Pickett Mountain high-grade polymetallic deposit in North-eastern Maine, USA.  The Company expects to resume its expansion and exploration drill program in the spring once the road access conditions are dry enough.

"We look forward to working with Kinross as a strategic partner in our efforts to expand the current mineral resources and search for additional deposits at Pickett Mountain," said Ron Little, President and CEO.  This will include follow up of the recently discovered footwall zone in a drill hole that intersected 4.1 m of 38.2% ZnEq (incl. 612 g/t Ag and 0.5 g/t Au) and one of the last deeper holes that hit 19.5 m of 33.1% ZnEq (incl. 269 g/t Ag and 1.1 g/t Au).

The company’s address is 1100 Russell St, Thunder Bay, ON P7B 5N2, (807) 624-1130, www.wolfdenresources.com.