Wolfden completes first three drill holes at Rockland

Executive Summary

• Wolfden Resources Corp. completed the first three core holes (approx. 1,600 metres) at its Rockland gold project in Nevada, targeting below historical mineralized zones.
• Holes REP18 and REP22 intersected significant intervals of intensely altered, flow-banded rhyolite with sulphide content, suggesting a steeply dipping volcanic conduit or dike structure.
• Hole REP25 drilled below Target Hill, intersecting altered rhyolite comparable to previous holes; assay results are pending to determine higher-grade potential.

Key Details

• Hole REP18: Drilled below historical hole PG-32 with steeper inclination. Intersected 242 metres (from 282 to 524 metres down the hole) of intensely altered flow-banded rhyolite with similar alteration and fine-grained sulphide content to the 85.4-metre mineralized section of hole PG-36C.
• Hole REP22: Drilled in an opposing direction to REP18 and PG-32 to cut back across the mineralized zone. Intersected 210 metres of the same flow-banded rhyolite with similar alteration and sulphides.
• Geological Interpretation: The opposing REP holes indicate the mineralized rhyolite is a steeply dipping volcanic conduit or dike that expands into a mushroom shape closer to the surface. Two phases of intense alteration were identified: adularite followed by a stronger illite overprint.
• Hole REP25: Drilled at an inclination below Target Hill to a depth of 572 metres. Located at the northeast end of a 1.7-kilometre structural corridor. Primarily intersected altered flow-banded rhyolite with varying amounts of sulphides and alteration comparable to REP18 and REP22.
• Historical Context: The program tests below significant historical results, including 146.4 metres at 1.0 g/t AuEq in hole PG-32 and 85.4 metres at 1.0 g/t AuEq in hole PG-36C. Target Hill previously returned 315.5 metres of 0.1 g/t AuEq.
• Next Steps: The company is awaiting assay results expected in the coming weeks to continue testing for higher-grade mineralization at depth.
• Property Status: Wolfden has optioned the Rockland property and can earn up to a 75% interest.

Notable Quotes

• "We are pleased to see the extent of altered and mineralized rhyolite zone in all of the holes and look forward to seeing the assay results which are expected in the coming weeks," stated Ron Little, chief executive officer for Wolfden.
• "We are even more pleased to have a better handle on the geometry and the potential orogenic model of the extensive mineralized system and an idea of where to drill to test for the presence of higher gold grades at depth."