Wolfden Terminates Letter of Intent for Murray Brook and Acquires a 100% Interest in a New Nickel-Copper Property

THUNDER BAY, ON, May 22, 2015 /CNW/ - Wolfden Resources Corporation (WLF:TSX-V) ("Wolfden" or the "Company) announces that, further to its press release dated April 13^th, 2015, it has decided to terminate the Murray Brook project acquisition process.

New Project Acquisition
Wolfden is pleased to announce that it has acquired a 100% interest in a quality nickel-copper property by claim staking.  The Property comprises 600 hectares and is located in east-central Manitoba.

The last work program completed on the Property was during the period of 1956 to 1958.  This work provides compelling evidence to define 'Kambalda-type' nickel-copper mineralization on the property.  The occurrence of 'spinifex-textured' ultramafic flows containing significant nickel and copper assays was obtained from historic diamond drilling. This style of mineralization often contains appreciable platinum-group-elements (PGE's).  Kambalda-type deposits are characterized by high nickel grades and tend to occur in clusters within the base of ultramafic flows in channel-like deposits.

Compilation of the historic data is currently ongoing and a detailed property-wide, high-resolution airborne geophysical survey is planned to correlate with the known zones of nickel mineralization and to define additional targets elsewhere on the Property (the last airborne geophysical survey flown on the Property was in 1956). Diamond drilling is anticipated to commence following the completion of the airborne survey.

Company working capital stands at $3.3 million of which $1.9 million is flow-through funds.  As such, the Company is well-financed to resume exploration at its Tetagouche property in June 2015 and a larger program on the new Nickel property later in the year.

"After full due diligence, we decided that the share dilution expected for the Murray Brook acquisition was excessive", stated George Topping, CEO of Wolfden.  "We are very excited by the Nickel project acquisition owing to its high discovery potential and the potential to define a sizeable deposit.

The technical information in this news release has been prepared and approved by Donald Hoy, P. Geo. President and a director of the Company. Mr. Hoy is a Qualified Person under National Instrument 43-101.

About Wolfden Resources:
Wolfden is a mineral exploration company with a dominant, 20,000 hectare, land position in the heart of the Bathurst Mining Camp in New Brunswick. New Brunswick was ranked #21 in the world, and #4 among Canadian provinces, as the most favourable jurisdiction to undertake mining and exploration by the Fraser Institute (2014). The company's Tetagouche property is host to 5 historic massive sulphide deposits and offers excellent potential for new discoveries. The property is located within 20 kilometres of the famous Brunswick No. 12 mine (Glencore) and mill and the soon to be commissioned Caribou complex (Trevali). The Company also has a 100% interest in the Clarence Stream gold-antimony property in southern New Brunswick that hosts a significant 43-101 compliant mineral resource.

This press release contains forward-looking information 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 plans and results of exploration and the magnitude and quality of the property and completion of a definitive agreement in connection with the acquisition of the Murray Brook 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) stock market volatility and capital market fluctuations; and (v) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are based on estimates and opinions of management on the date hereof and are expressly qualified by this notice. 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 the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the accuracy or adequacy of this release

SOURCE Wolfden Resources Corporation

George Topping, Chief Executive Officer, Wolfden Resources Corporation, Tel: [phone], Email: [email protected]; Donald Hoy, President, Wolfden Resources Corporation, Tel: [phone], Email: [email protected]