Wolfden Adds to Management and Creates Technical Advisory Board Announces Adoption of Restricted Share Unit Plan and Grant of Restricted Share Units

Wolfden Adds to Management and

Creates Technical Advisory Board

Announces Adoption of Restricted Share Unit Plan and Grant of

Restricted Share Units

THUNDER BAY, ON, April 30, 2019 /CNW/ - Wolfden Resources

Corporation (WLF.V) ("Wolfden" or the "Company") is pleased to

announce that it has hired Jeremy Ouellette as Vice President Project

Development and retained Bill Fisher and Scott Trebilcock as

members of the Technical Advisory Board.

"Adding this kind of bench strength is a testament to the value

generation potential of Wolfden's assets," stated Ron Little, President

and CEO for the Company. "Mr. Ouellette's development and start-up

experience with Trevali will be instrumental as we advance our high

grade Pickett Mountain Project in Maine and evaluate how it may

unlock further value in our other leading assets in the prolithic

Brunswick base metal camp. Mr. Trebilcock and Mr. Fisher bring rich

base metal, capital markets and development experience that adds

significant depth to the Board and our technical team."

Mr. Ouellette is a Professional Engineer with significant experience in

mine permitting, development and operations, most recently

supporting the design, start up and operation of the Caribou Mine in

New Brunswick for Trevali Mining Corporation. During his time with

Trevali he gained experience in project evaluations, due diligence,

project acquisition, financing support, public relations and

communications and has successfully held several senior and

leadership roles throughout the transition between explorer/developer

to a top 10 global zinc producer.

Mr. Fisher is a geologist with 40 years of experience in exploration,

development, mine financing and production of base metal and

precious metal deposits. He served as VP Exploration for Boliden and

was the founding CEO of Karmin Mining Corporation that discovered

the poly-metallic Aripuana district in Brazil, currently being developed

by Nexa. He was Chairman of Aurelian Resources that discovered the

Frute del Norte deposit that was sold to Kinross and now under

construction by Lundin Gold. He was also CEO of GlobeStar Mining

Corporation that developed and constructed the Cerro de Maimon

copper/gold mine in the Dominican Republic. He currently sits on

other public and private mining company board of directors.

Mr. Trebilcock has over 30 years of experience as an engineer,

management consultant and mining executive. Most recently he was

Chief Development Officer of Nevsun Resources which sold to Zijin

Mining for $1.9 billion after a year long defense / sale process. At

Nevsun, Mr. Trebilcock lead investor relations and a world-wide M&A

hunt that culminated in the 2016 acquisition of Reservoir

Minerals. Prior to Nevsun, he worked at Nautilus Minerals, PRTM

Consultants, Noranda and Hatch. Mr. Trebilcock holds a B.Sc. in

Chemical Engineering and an MBA from Queen's University and is a

Chartered Director.

The Company has granted these persons options to acquire up to

600,000 common shares in the capital of the Company at an exercise

price of $0.20 per share. The options expire five years from the date of

grant and are subject to specific vesting conditions.

In addition, the Company is pleased to announce that in order to

formalize a pay-for-performance culture and further strengthen the

alignment between insiders and shareholders of the Company, its

board of directors has adopted a restricted share unit plan (the "RSU

Plan"), subject to approval by the TSX Venture Exchange (the

"TSXV") and ratification by disinterested shareholders of the Company

at the annual and special meeting of shareholders to be held on June

26, 2019 (the "Meeting").

Subject to approval of the RSU Plan by the TSXV and ratification by

disinterested shareholders of the Company at the Meeting, an

aggregate of 1,208,750 restricted share units ("RSUs") have been

granted to management of the Company pursuant to the terms of their

employment agreements and in respect of annual performance in

2018. Each RSU entitles the recipient to receive one common share in

the capital of the Company, or a cash payment equal to the equivalent

of one common share in the capital of the Company, following the

vesting period of the RSU. Further details regarding both the RSU

Plan and the awards made under such plan, including vesting periods,

will be set out in the management information circular of the Company

which will be made available to shareholders and filed on SEDAR in

connection with the Meeting.

About Wolfden

Wolfden is focused on exploration and development in prolithic mining

camps of North America. The flagship Pickett Mountain Project in

Maine, USA, is one of the highest-grade base metal projects in North

America (Zn, Pb, Cu, Ag, Au) and located near excellent

infrastructure. With the support of major investors Kinross Gold

Corporation and Altius Minerals, Wolfden plans to complete additional

drilling and technical studies in 2019 to support a preliminary

economic assessment of an underground mining scenario on the

Project. The Company has several other high-grade polymetallic

exploration projects and continuously evaluates additional investment

opportunities.

Cautionary Statement Regarding Forward-Looking Information

This press release contains forward-looking information (within the

meaning of applicable Canadian securities legislation) that involves

various risks and uncertainties regarding future events. Such forward-

looking information includes statements based on current expectations

involving a number of risks and uncertainties and such forward-looking

statements are not guarantees of future performance of the Company,

and include, without limitation, statements relating to information about

future activities at the Pickett Mountain Project that include plans to

complete additional drilling and technical studies in 2019 to support a

preliminary economic assessment of an underground mining scenario

on the Project. There are numerous risks and uncertainties that could

cause actual results and the Company's plans and objectives to differ

materially from those expressed in the forward-looking information in

this news release, including without limitation, the following risks and

uncertainties: (i) risks inherent in the mining industry; (ii) regulatory

and environmental risks; (iii) results of exploration activities and

development of mineral properties; (iv) risks relating to the estimation

of mineral resources; (v) stock market volatility and capital market

fluctuations; and (vi) general market and industry conditions. Actual

results and future events could differ materially from those anticipated

in such information. This forward-looking information is based on

estimates and opinions of management on the date hereof and is

expressly qualified by this notice. Risks and uncertainties about the

Company's business are more fully discussed in the Company's

disclosure materials filed with the securities regulatory authorities in

Canada at www.sedar.com. The Company assumes no obligation to

update any forward-looking information or to update the reasons why

actual results could differ from such information unless required by

applicable law.

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.

SOURCE Wolfden Resources Corporation

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For further information: please contact Ron Little, President & CEO,

at (613) 862-3699

CO: Wolfden Resources Corporation

CNW 06:00e 30-APR-19