Wolverine Announces Debt Settlement and Private Placement

Frankfurt Symbol: 4LP

June 30, 2016 TSX.V Symbol: WLV Frankfurt Symbol: 4LP _____________________________________________________________________________________

WOLVERINE ANNOUNCES DEBT SETTLEMENT AND PRIVATE PLACEMENT

WOLVERINE MINERALS CORP. (the “Company”) announces its intention to settle debt in the amount of approximately $900,000 owed by the Company to certain creditors by the issuance of common shares (each, a “Share”) of the Company at a deemed price of $0.05 per Share. The proposed debt settlement is subject to the approval of the TSX Venture Exchange (the “Exchange”) and entry into debt settlement agreements with the creditors.

The Company also announces that it has arranged a non-brokered private placement financing (the “Financing”) of up to 10 million units (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of up to $500,000. Each Unit will consist of one Share and one share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to purchase one additional Share at a price of $0.075 per Share for a period of two years from closing of the Financing, subject to acceleration in the event that the price per Share is at least $0.15 for at least 20 days. Insiders may participate in the Financing.

Finders' fees may be payable in connection with the Financing in accordance with the policies of the Exchange.

All securities issued in connection with the Financing will be subject to a statutory hold period expiring four months and one day after closing of the Financing. Completion of the Financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange.

The proceeds of the Financing will be used for working capital purposes.

WOLVERINE MINERALS CORP. www.wolverineminerals.ca

Per: “Thomas A. Doyle” For further information, please contact: Thomas A. Doyle Thomas A. Doyle President & CEO Logan Anderson Phone: (604) 689- 5722 Email: [email protected]

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.

Suite 1085, 555 Burrard Street Tel: 604-689-5722 PO Box 201 Fax: 604-685-9182 Vancouver, BC, Canada, V7X 1M8

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