12-year KRW110 Billion Senior Debt Facility(KRW55 Billion Tranche A at 5.80% p.a. fixed rate and KRW55 Billion Tranche B at a 3-month “AAA” Bank Bond rate, currently 3.40% p.a., plus 2.30% p.a.) and 5-year KRW10 Billion Working Capital Credit Facility at a 3-month CD currently 3.54% p.a., plus 2.50% p.a.

Brian Wesson, CEO of Woulfe, stated: “The terms offered by Shinhan bank are very competitive at less than 6.0% p.a. inclusive of all costs. The KRW120 Billion debt financing will complement the $70 Million equity (US$35 million for Sangdong and US$35 million for APT refinery) put in place through the strategic deal signed earlier this year. The debt and equity at a subsidiary level will be adequate to develop the Sangdong Project through to production. Additionally, this competitive financing will contribute substantially to the value of the project. The Tetra Tech Inc. Feasibility Report dated 23rd April 2012 assessed the Project NPV and IRR to be US$400.3 million and 46% respectively and this 6% debt will have a substantial positive impact on project NPV and IRR.”

The extensive time spent by management over the past year in marketing the company and raising financing is now in its final stages, allowing Woulfe to focus on bringing the mine into production. New mine access development will begin in August 2012. Exploratory production mining is under way having produced over 2,000 tonnes of ore, stockpiled on surface. Production of tungsten metal is scheduled for 2013.

On Behalf of the Board of Directors

Woulfe Mining Corp.

Brian Wesson (FAusIMM), President, CEO and Director

About Woulfe Mining Corp.

Woulfe is developing the Sangdong tungsten-molybdenum mine which was historically one of the largest tungsten mines in the world and one of the few long life, high grade tungsten deposits outside of China. Woulfe has assembled a highly skilled, in-country, bilingual technical team and a board of directors with an outstanding track record of success.

Woulfe Mining Corp. is a TSX-V listed company.

Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information and even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the following: commodity price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; failure to complete the strategic arrangement described in this release, including because of the failure to satisfy the conditions to closing of the transaction, risks of sovereign investment; currency fluctuations; speculative nature of mineral exploration; global economic climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements.

There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the appropriate regulatory authorities.