Woulfe Mining (Wolfram, Molybden, Gold)

"Vancouver, BC, December 1st, 2009 -- Oriental Minerals Inc. (OTL: TSX-V) (the "Company") is pleased to announce that it has negotiated a deferment of the US$1 million vendor payment obligation on the Sangdong tungsten-molybdenum project in South Korea. The payment due November 30, 2009, has now been deferred to December 18, 2009."

Und genau da kann jetzt Brian Wesson besser sein.
Google doch mal nach ihm und seiner Fa. Westech und Du wirst sehen, dass da keine Theoretiker am basteln sind. Aus einer stillgelegten Goldmine auf Fidji hat er z.B. wieder eine Goldgrube gemacht.

Mit der Scoping Study hat man jetzt für die weitere Finanzierung eine wichtige Unterstützung in der Hand.

"With the continued development work in South Korea, we have started assembling the team required to go into production," stated Brian Wesson, President, CEO and Director of Woulfe. "The fact that we have been able to attract high level members of the former mining team I believe is a demonstration of the confidence in these projects."



Woulfe Mining Corp "WOF"
Woulfe is a TSX-V listed company with a diversified portfolio of mining licences for tungsten, molybdenum, gold, base metals, uranium and vanadium in South Korea. The company is focused on unlocking the value of these assets to increase company value and move the company onto the main board of the TSX.

In South Korea the flagship tungsten/molybdenum Sangdong Project, situated 187 Km south east of Seoul, is rapidly moving ahead with a scoping study released to market in March 2010, which clarified that the project is viable and should be moved to feasibility. The Company will carry out an intense drilling program to upgrade the resources and to improve the grade with an objective of bringing the project to bankable feasibility by 2011 and into production in 2013.

While the Sangdong tungsten Project is a core project, the company is carrying out work on its Muguk gold Project, which was Korea's largest gold mine, as well as nine vanadium/ uranium leases and base metal projects to evaluate their possible contribution to the Company.

On Behalf of the Board of Directors
Woulfe Mining Corp.

Brian Wesson
President, CEO and Director

April 23, 2010
Korea's largest historical gold mine -- Woulfe commences drilling at Muguk
Woulfe Mining Corp. (TSX-V: WOF) ("Woulfe" or, the "Company") is pleased to announce that it has commenced an initial two hole diamond drilling campaign, totalling 1,086 metres, to test the gold and silver mineralization at Muguk. For more details on the planned drilling, see the Woulfe web site at www.woulfemining.com.

The Muguk mine was the most productive gold mine in South Korea, with operations on several vein systems. Underground mining of the relatively narrow lodes was carried out using shrink stoping and tracked mining equipment, with vertical shafts used for ore extraction and access.

From the historical information, the veins are typically of sufficient width, over 1 metre, to utilise modern mechanised mining techniques such as long hole stoping and trackless equipment which would have a significant impact on production costs. The historical cut off grade of the mine was reportedly 8 grams per tonne of gold ("g/t") with a life of mine head grade of 11 g/t and mill concentrate recovery of 96%.

Mineralization at Muguk is hosted in several tens of quartz veins that occupy fractures in a granitic intrusion. The most significant veins within Woulfe's tenements are referred to as Baksan, Samhyeongje (or Three Brothers), No's 1 and 2 and No's 7 to 11 Veins. The mineralised veins extend discontinuously on surface for 400-2,000 metres, and to known depths of up to 800 metres. The veins typically dip to the ENE at 75-85 degrees. The Three Brothers and No 2 Veins were extensively mined prior to mine closure in 1997.

The Muguk deposit is interpreted to be a multi-phase, low-sulphidation epithermal system, comprising grey chalcedonic banded veins and stockworks. Higher gold grades are associated with electrum-bearing sulphide bands on the margins of these veins. KORES (the Korean Government agency Korea Resources Corporation) reported a "measured reserve" of 713,610 tonnes at 14.5 g/t gold and 83.5 g/t silver, and an "inferred resource" of 705,370 tonnes at 12.5 g/t gold and 62.1 g/t silver for total contained metal of approximately 616,000 ounces of gold and 3.3 million ounces of silver. This estimate can not be relied on as there is insufficient data for our qualified person to verify the resources under the NI 43-101 reporting code.

The three brother's vein which was the focus of mining for 10 years was extensively mined to 400 metres below surface and all sub 8 gram material was not mined.

The evaluation of Muguk is an exciting step for Woulfe as the deposit has not been subject to any exploration since mine closure in 1997 due to depressed metal prices. Woulfe has secured 1997 mine level plans, detailing resource blocks and grades that existed as at mine closure. These will be digitized and modelled to generate drilling targets so that NI 43-101-compliant resource estimates can be determined.

"The commencement of drilling at the Muguk is a significant milestone for the company," said Brian Wesson, President, CEO and Director of Woulfe. "Over the last five months since we took over management of the company we have secured the Sangdong mine titles and taken it to scoping study the showed that the project is robust; secured a further two uranium leases, total 9; taken 100% control of the historic Yeonwha I base metal project and now started verification drilling at Muguk. We are focused on the ground in Korea to move primarily the Sangdong project ahead to development as quick as possible, followed by Muguk, which will depend on the time required to produce NI 43-101-compliant resource estimates.

"Both these projects are considered substantial as Sangdong was and remains one of the world's great tungsten and molybdenum deposits with a NI 43-101-compliant resource estimate of 103 million tonnes at 0.35% WO3 and 0.04% MoS2 remaining after 40 years of mining. Previous operations only focused on the high grade zones (above 0.5% WO3), and the head grade was a few percent tungsten in the latter part of the 1940s. Muguk was and remains the countries largest gold producer.

"Both operations closed when as the respective metal prices were at least a quarter of current prices and the fundamentals in both industries have changed significantly. Significantly, both the gold and tungsten prices are well below their historic peaks in real terms. Woulfe is verifying the historical resource estimates to support the re-opening of the underground mines."

The focus at Sangdong is to upgrade the current resource to reserve by verifying approximately 800 holes drilled from underground. The focus at Muguk is to verify the historical KORES data to produce a NI 43-101-compliant resource estimate.

Qualified person has read and approved the release - Colin Luther Borrow MAusIMM a qualified geologist who has 30 years experience in underground mines and the delineation of resources and reserves.