WLF.V · 2025-02-25 12:00:00

Wolfden Provides Positive Update on Nevada Gold Property

Corporate Updates

Toronto, Ontario, February 25, 2025 - Wolfden Resources Corporation (WLF.V) (“Wolfden” or the “Company”) is

pleased to provide an update with respect to its Rockland Project where the company can earn up to a 75% interest in

the property that is located in the Walker Lane Trend of Nevada , USA. The company plans to commence an 1,800

metre drill program in July 2025 to test for rhyolite-hosted ‘bonanza-type’ gold mineralization, which modeling suggests

may potentially occur just below historical drill results that include d 146.4 metres at 1.0 g/t AuEq * in hole PG-32 and

42.7 metres at 1.7 g/t AuEq * in hole PG-36C. With a drill permit that requires only on -site final approval and funding

available from the Company’s recent land sale in Maine that has been conditionally approved by the TSXV, Wolfden is

well positioned to drill test several bonanza-type gold targets within the large Rockland East hydrothermal system. An

analogous target model is AngloGold’s major new Silicon-Merlin discovery located in the Bullfrog District further to the

southeast along the Walker Lane trend, which hosts Indicated-level mineral resources of 121 mT for 3.4 million ounces

of gold and Inferred mineral resources of 391 mT for 12.9 million ounces of gold1.

“The Rockland East target in our opinion represents one of the most exciting drill ready exploration targets in the Walker

Lane Trend as it consists of 1) gold intercepts that returned up to 1.0 g/t AuEq* over 146.4 metres that ended in

mineralization, 2) an historic bonanza-type Au-Ag mine is part of the property package, 3) multi-square kilometre scale,

argillic to advanced argillic , rhyolite and basin -margin-debris-hosted alteration zones that are cut by quartz veins

enriched in antimony, arsenic and gold, and 4) geophysical data that suggests zones and structures where

hydrothermal fluids upwelled and subsequently ponded, creating wide, lower grade gold zones that are interpreted to

flank high-grade bonanza-type gold grades at depth,” stated Don Dudek, VP Exploration for Wolfden . “These are the

typical characteristics exhibited by some of the high quality gold deposits in the Walker Lane Trend.”

As per the terms of the earn -in agreement with Evergold Corp . (EVER.V) and the underlying claim owner (“Owner”),

who are both at arm’s length, Wolfden must complete US$1.175 million in exploration expenditures, including a

minimum of 5,000 feet (~1,500 m) of drilling in 2025, and make cash payments of up to US$600,0 00 over a period of

three years to earn a 51% interest in the property by March 2028. The first cash payment of US$100,000 is due on

March 1, 2025, unless otherwise approved by the Owner. Upon completion of these terms, Evergold will have earned

a 100% interest in the property from Owner less a 3% NSR of which 2% can be repurchased for US$3 million and the

property title will transfer from Owner to Wolfden. At such time, Wolfden may elect to 1) earn a 75% joint venture

interest in the Project by funding the completion a Pre-feasibility Study within 5 to 8 years or 2) elect to continue as the

operator of a joint venture with Evergold starting at 51:49 interests. In either scenario, if Evergold is ever diluted to a

20% interest or less, it will convert its interest to a 2% NSR where Wolfden can repurchase 1.5% from Evergold for

C$2.25 million. Under either election, all NSR buyback rights and first rights of refusal to purchase all interests and

NSR’s shall apply and be held by Wolfden and or the joint venture. Wolfden may assume those obligations of Evergold

to the Owner while Wolfden is earning a 51% interest and thereafter by the joint venture or Wolfden.

The earn -in agreement was announced on October 2 9, 2024 and is considered a fundamental acquisition for the

Company, as defined in Policy 5.3, and as such is subject to certain conditions having been met under Section 5. 7 of

Policy 5.3, including the review by the TSX Venture Exchange of a technical report prepared in compliance with National

Instrument 43-101 (Standards of Mineral Disclosure) with respect to the property in the next three months .

Technical Details

Drilling is planned to test the down-dip extension of hole PG-32, that returned 146.4 metres grading 1.0 g/t AuEq (see

Figures 2 and 4). The hole PG-32 intercept lies along the northern edge of a n 800 metre long, steep west-dipping

CSAMT anomaly ( Controlled-Source Audio-frequency Magnetotelluric) which is interpreted to represent a northeast -

trending structure, an area of increased felsic volcanism and intrusions, and an area where hydrothermal fluids upwelled

into structural and stratigraphic targets . This interpretation is supported, in part, by a hyperspectral scan of rock chips

from hole PG-32, which indicated an increase in potassium illite content , corresponding with higher temperature

alteration, to the end of the hole . It is believed that hole PG-32 was drilled just above a bonanza -type gold system or

may have been stopped too soon. The first hole will be drilled from west to east to intersect the interpreted mineralized

system approximately 75 metres below hole PG-32. Depending on results and validation of the orientation of the

mineralized system, another hole may be drilled to test the target area from east to west. This follow-up hole could also

determine if the interpreted mineralized system extends upward, closer to surface.

A second hole is proposed to test a large CSAMT anomaly below an area of outcropping epithermal quartz -adularia

veins that returned elevated antimony, arsenic and gold (see Figures 2 and 5 for the section location and proposed drill

section). This anomaly has never been tested and is interpreted as a potential area where gold-enriched hydrothermal

fluids ponded both within, along side and below silicified rhyolites . This large target area lies near the intersection of

northerly and northeast-trending CSAMT high resistivity structures.

A third oriented core hole is proposed to test the base of the CSAMT resistivity high in an area of numerous epithermal

quartz veins, an intersection area of quartz vein trends, an induced polarization (“IP”) chargeability anomaly and below

hole, PG-30 (Figures 2 and 6 – Target Hill), which intersected 315 metres of anomalous (0.09 g/t average) gold

mineralization from surface.

The overall size of the Rockland target area also compares favorably with that of AngloGold Ashanti’s Silicon -Merlin

deposit area (see Figure 3). Rockland comprises a large area of hydrothermal alteration cut by numerous quartz -

adularia veins that display low to bonanza -type gold grades along with enriched silver, arsenic and antimony levels ,

that warrants additional drilling.

QA/QC Comment

All grades over drilled length were calculated from a validated drill database that includes work from several different

companies. Holes 13 to 27 were completed in 1995 by a well-known international company and although there is no

QA/QC documentation available, it is assumed that the work and the laboratory used would have been of good industry

standards and practices.

Holes 30 to 38C were drilled in 2006 and 2007 with a complete QA /QC program that included r everse circulation

samples of 9 kilograms on average , collected at five -foot intervals from a wet splitter. Occasional duplicate samples

were taken in the same way. Control samples including standard pulps and crushed marble blanks were inserted into

the sample sequence about one every 10 samples. The samples were prepared and fire assayed for gold and multi -

element analysis by ALS Chemex at their lab oratory in Sparks, Nevada. All drill core was HQ in size, photographed,

logged, including RQD measurements and recovery, prior to sampling. Sample intervals were typically chosen to follow

actual core block/run inte rvals to a maximum of five feet of sample. Control samples including standard pulps and

crushed marble blanks were inserted randomly in the sample number sequence to check and verify lab accuracy. The

control samples were inserted at least one every tenth sample and more frequently in well mineralized zones.

About Wolfden

Wolfden is a North American exploration and development company focused on high-margin metallic mineral deposits

including precious, base, and critical metals. It has two nickel sulphide deposits in Manitoba and one of the highest -

grade polymetallic projects in the USA (Zn, Pb, Cu, Ag, Au) that represent significant development projects with the

potential to produce domestic supply of strategic metals.

For further information please contact Ron Little, President & CEO, or Don Dudek, VP Exploration, at (807) 624-1136.

The information in this news release has been reviewed and approved by Don Dudek, VP Project Exploration, and Ron

Little, P.Eng., President and CEO, both who are Qualified Persons under National Instrument 43-101.

* True widths unknown. Calculation of AuEq uses gold price of US$2000/oz and silver price of US$25/oz

1 Silicon/Merlin discovery - meant only as a target comparison and not to imply that future work at Rockland will return