Overview

Woulfe Mining Corp (CVE:WOF) is progressing a number of properties in South Korea, one of the fastest growing, high-tech industrialized economies in the world. The company’s primary focus is bringing one of the world’s largest past producing tungsten mines, the Sangdong mine, back into production. Woulfe’s goal is to commence production at the mine in the fourth quarter 2012 at an initial production rate of 1.2 million tonnes per annum. The company is also advancing its Muguk gold-silver mine, formerly South Korea’s largest producing gold mine. Woulfe’s portfolio includes a number of other key uranium and base metal properties with significant known mineralization and excellent exploration potential.

Investment Highlights:

• Only Western resource exploration company in South Korea.
• Management team has experience in reopening formerly producing mines.
• Sangdong tungsten-molybdenum mine is historically one of the world’s largest   tungsten producers.
• Project in close proximity to China, the global leader in tungsten demand.

Chief Properties

Sangdong Tungsten-Molybdenum Mine Project

The Sangdon Tungsten-Molybdenum Project is located 187 km south east of Seoul. Before its closure in 1992, the mine was the world’s leading producer of tungsten for 40 years with an historical production rate averaging 600,000 tons per annum (tpa). The mine closed due to low metal prices, not the exhaustion of resources. The most recent scoping study indicates that the property has over 40 years’ of mine life remaining.

The property boasts substantial underground infrastructure and above ground infrastructure includes access to roads, water and power.

In April, 2010 Woulfe released a Preliminary Economic Assessment, or Scoping Study, prepared by Wardrop, a Tetra Tech Company, for the development of the Sangdong Project in Korea.

Highlights:

• 26.4 % Internal Rate of Return (IRR)
• 3.4 years payback on US$ 289 M capital
• Direct operating costs of $32.50 /t processed
• US$462 million Net Present Value (NPV) at 8% discount value.

The base case commodity prices were as follows:

• Ammonium Paratungstate (APT) – US$250 /mtu
• Molybdenum – US$15.00 /lb Mo.

The Scoping Study also returned positive economics on a base case minus 20% metal pricing scenario.  Three scenarios were considered and the highlights are shown in the table below:

In May 2011, Woulfe successfully completed phase one of a drill program which focused on verifying historical data and upgrading resources to support the pre-feasibility study. Phase two is targeting the unmined Hangingwall and Footwall mineralized zones on Level 1 and above, as well as the main mineralized zone above the Sangdong Level and is expected to be completed by the end of September, 2011.

The crusher at the process plant is designed fro 2.4 million tpa and the initial milling capacity will be 1.2 million tpa, but can be readily expanded to 2.4 million tpa.

In July 2011, Woulfe announced that Wardrop had completed an interim resource update for the Sangdong mine in South Korea on the mineralization within the Upper Section of the mine. The interim resource estimate update from Wardrop showed an Indicated Resource of 5,968,000 tonnes grading 0.42% WO₃ and0.04% MoS_2, and an Inferred Resource of 18,572,000 grading 0.45% WO₃ and 0.05% MoS_2.

Muguk Mine Project

The Muguk gold-silver project, once Korea’s largest producing gold mine, operated for many years before closing in 1997 on depressed gold. A total of 8.15 tonnes of gold was reportedly mined between 1934 and its 1972 closure. The mine was re-opened in 1987, producing at a rate of 200 tonnes per day from the No. 2 Vein until its most recent closure.

In 1998, Korea Resources Corporation (KORES) reported that the property contained a combined resource of 1,418,980 tonnes @ 13.5 g/t gold, 72.8 g/t silver (615,956 oz gold and 3,321,599 oz silver). This historical resource estimate does not meet with NI 43-101 standards.

In April 2010, Woulfe began an initial two-hole drill campaign, totaling 1,086 meters, to test the gold and silver mineralization at Muguk. Additionally, Woulfe has secured 1997 mine level plans, detailing resource blocks and grades that existed at mine closure. These will be digitized and modeled to generate drilling targets so that NI 43-101 compliant resource estimates can be determined.

In June 2011, the Company commenced a drill campaign on the down dip extensions of the Three Brothers Vein.

Management

Brian Wesson, CEO/ President

Mr. Brian Wesson has been an engineer for 30 years and has extensive experience in the operation, design and construction of mines and process plants. He holds an MBA and is a Fellow of the Australian Institute of Mining and Metallurgy and the Australian Institute of Company Directors.

Mark N. Gelmon, CFO

Mr. Mark N. Gelmon, based in Vancouver, British Columbia, is a consulting chartered accountant. He has provided his expertise to several TSX Venture Exchange-listed companies in the capacity of director, chief financial officer and consultant. Mr. Gelmon’s background as a C.A. provides him with the necessary knowledge and skills for financial management, reporting operating results to the Board of Directors, serving as a liaison with financial institutions, and maintaining compliance with today’s complex regulatory reporting requirements.

Amelia Wesson, VP Admin and Corporate

Ms. Amelia Wesson has more than 20 years of experience providing administration services to large mining operations including managing and training personnel. She manages all administration, human resources and community development for Woulfe.

Bill Kable, VP Technical

Mr. Bill Kable is an economic geologist with 35 years’ experience in the industry. He is managing the redevelopment of Woulfe’s projects including feasibility studies conducted by Wardrop Engineers UK.

John Icke, Director

Mr. John Icke has been the president and CEO of Resinco, formerly Longview Capital Partners, since January of 2008. He has more than 25 years’ global management experience in both the private and public sectors. Prior to Resinco, Mr. Icke was the principal of JRI Strategy Consultants Inc. His other previous positions include serving as president of Accenture Business Services for Utilities, president and CEO of Lily Cups Inc., founding director and chairman of the Canadian Polystyrene Recycling Association, corporate vice-president and general manager of Indigo N.V.’s worldwide packaging business as well as CEO and executive vice-president of Sweetheart Cup, a subsidiary of Fort Howard.

Hubert Marleau, Director

Mr. Hubert Marleau is chairman, co-founder and director of Palos Capital Corporation. With over 30 years of experience in the business and financial community, Hubert has been Governor of the Toronto, Montreal and Vancouver Stock Exchanges, and a director of the Investment Dealer Association of Canada.

David Constable, Director

Mr. David Constable is a geologist with more than 40 years of exploration and development experience in Canada and internationally. He holds a BSc (Hons) and an MBA. Mr. Constable is a chartered director specializing in investor relations for large and small companies and has worked with such companies as Normandy Mining Limited and FNX Mining Company Inc. He is a director of Canadian and dual-listed resource companies and is currently chairman of U308 Corp. and Rockcliff Resources Inc.

Yun Choi, Director

Mr. Yun Choi holds a juris doctorate degree from the US and is an executive director of Korea Zinc. He is also serving as CEO of ICM Pachapaqui S.A.C. in Peru and vice-president of Pan Pacific Metal Mining Corporation in Canada, both of which are wholly-owned subsidiaries of Korea Zinc.

Bog-Gon Kim, Technical Advisor

Mr. Bog-Gon Kim was formerly the general manager of mining for the Sangdong Mine prior to its closing, and worked for Korea Tungsten a total of 25 years.  He is qualified in mining and metallurgy with extensive experience in mine workings, production and ore processing at Sangdong.

Kun Joo Moon, Technical Advisor

Dr. Kun Joo Moon holds a doctorate in geology from the University of Tasmania and his dissertation focused on the Sangdong Tungsten Project. He has an extensive career history with Korea Tungsten.

Kwan-Yi Jeong, Technical Advisor

Mr. Kwan-Yi Jeong was formerly the general manager of Muguk Gold and Yeonwha Base Metals before their closing. He is a highly respected mining engineer in Korea and an advisor to several large companies.

Marion McGrath, Corporate Secretary

Ms. Marion McGrath has been actively engaged in the securities industry for over 25 years. She has served as a director and officer for numerous public companies in a corporate administrative capacity. Ms. McGrath is the owner of IO Corporate Services Limited, a company which provides corporate and accounting services to various publicly-traded Canadian companies. Prior to organizing IO Corporate, she was a senior paralegal with a Vancouver-based securities law firm.