WLF.V · 2019-02-19 12:00:00

Wolfden Announces Positive Drill Results at Orvan Brook Property

Drill Results

Wolfden Announces Positive Drill Results at

Orvan Brook Property

THUNDER BAY, ON

Feb. 19, 2019

/CNW/ -

Wolfden Resources Corporation

(WLF.V)

Wolfden

" or the "

Company

") is pleased to report encouraging assay results from a diamond drill

program completed on its 100%-owned Orvan Brook property near

Bathurst New Brunswick

. The

property is well-located proximal to existing infrastructure and only 15 kilometres from the Caribou

(Zn-Pb-Ag) mine, owned and operated by Trevali Mining Corporation.

Complete Drill Core Assay Results

Hole ID

Lens

From

(m)

Length

(m)

(%)

(g/t)

ZnEq

(%)

OB-18-22

East

418.20

422.60

4.40

4.42

1.30

0.36

44.20

0.34

7.40

OB-18-23

East

360.90

363.70

2.80

4.37

1.62

0.15

42.60

0.34

7.35

OB-18-24

East

297.82

298.45

0.63

1.10

0.28

0.04

14.90

0.11

1.86

OB-18-26

East

185.15

187.05

1.90

4.40

1.44

0.44

124.30

0.50

8.82

OB-18-28

East

250.90

253.60

2.70

2.68

1.02

0.11

20.80

0.18

4.43

OB-18-31

East

341.93

343.40

1.47

9.38

2.90

0.38

69.50

0.58

14.94

OB-18-25

West

54.30

56.00

1.70

8.78

4.60

0.41

155.00

0.70

17.50

OB-18-27

West

107.45

110.70

3.25

6.76

3.19

0.11

76.30

0.55

11.94

OB-18-29

West

69.45

70.96

1.51

4.75

2.64

0.18

75.20

0.72

9.83

OB-18-30

West

88.80

93.20

4.40

7.18

2.78

0.10

68.40

0.76

12.14

Zinc Equivalent (ZnEq) is based on the following metal prices: US$1.20/lb Zinc, US$1.00/lb Lead, US$2.50/lb Copper,

US$16.00/oz Silver and US$1,200.00/oz Gold.

A total of ten drill holes comprised of 2,649 metres were completed in late 2018. Four of the holes

were on the West Lens and six on the East Lens (see Longitudinal Section). Highlights of the results

from the West Lens, include

4.40 metres grading 7.18% Zn, 2.78% Pb, 0.10% Cu, 68.40 g/t Ag

and 0.76 g/t Au

(12.14% ZnEq, OB-18-30) and

3.25 metres grading 6.76% Zn, 3.19% Pb, 0.11%

Cu, 76.30 g/t Ag & 0.55 g/t Au

(11.94% ZnEq, OB-18-27).

"The widths and grades of these holes as well as previous neighbouring intercepts are similar to

those at the Caribou Mine deposit and are indicative of the potential to develop a significant massive

sulphide lens at a shallow depth," said

Don Hoy

, SVP of Exploration for the Company. "Similarly, the

East Lens offers potential to develop a significant mineral resource at depth. Additional drilling is

warranted on both lenses to determine the limits of the massive sulphide mineralization."

Wolfden adheres to strict quality assurance and quality control protocols including routine insertion of

blanks and certified reference standards in each sample batch of drill core that is sent to the lab for

analyses. Drill core samples are split in half using a diamond saw with one half saved for reference

and the other half shipped via secure transport to Activation Laboratories sample preparation facility

Fredericton

, New Brunswick. Core samples are analyzed for zinc, lead and copper utilizing sodium

peroxide fusion, acid dissolution followed by ICP-OES (Code 8). Gold is analyzed by fire assay (30

g) utilizing AA finish (Code 1A2) and samples with over 5 g/t are analyzed by fire assay with

gravimetric finish (Code 1A3). Silver is analyzed by fire assay with gravimetric finish (Code 8-Ag).

About Wolfden

Wolfden is a Canadian exploration and development company primarily focused on advancing its

100%-owned

Pickett Mountain Project

Maine, USA

. The 6,800 acre Project is host to a high-

grade (Zn, Pb, Cu, Ag) zinc-rich, volcanogenic massive sulphide deposit that is close to excellent

infrastructure and includes the land and all rights to minerals and timber, without any historic or

aboriginal encumbrances. With a mineral resource of 2.05 Mt at 19.3% ZnEq of indicated resources

and 2.03 Mt at 20.6% ZnEq of inferred resources, the Company plans to expand resources with

further drilling and complete sufficient exploration, definition drilling and various technical studies in

order to demonstrate the economic potential for an underground mining scenario on the Project. For

further information on the project, see technical report entitled "

National Instrument 43-101

Technical Report, Pickett Mountain Project Resource Estimation Report,

Penobscot County, Maine

USA

" dated

January 7

, 2019.

The information in this news release has been prepared, reviewed and approved by

Don Hoy

P.Geo., SVP Exploration and

Ron Little P.Eng

., President and CEO, who are Qualified Persons'

under National Instrument 43-101.

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: (1) the timing and definition of sufficient mineralization, the development of significant

resources or the completion of a mineral resource estimate on the Orvan Brook property, plans

and results of exploration and the magnitude and quality of the property, and (2)

information about

future activities at the Pickett Mountain Project that include plans to expand resources with further

drilling and complete sufficient exploration, definition drilling and various technical studies in order

to demonstrate the economic potential for 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

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.

Orvan Brook Longitudinal Section – Grade Thickness Contours (core length m x (%Zn+%Pb)) (CNW

Group/Wolfden Resources Corporation)

SOURCE

Wolfden Resources Corporation

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/February2019/19/c3249.html

%SEDAR: 00033002E

For further information:

Ron Little, President & CEO, at (613) 862-3699 or Don Hoy, SVP

Exploration at (807) 624-1131.

CO: Wolfden Resources Corporation

CNW 06:00e 19-FEB-19

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