Flow Thru shares at .40 cents News!!Wolfden Announces Non-Brokered Flow Through Financing THUNDER BAY, ON / ACCESSWIRE / February 8, 2021 / Wolfden Resources Corporation (TSXV:WLF) (the "Company" or "Wolfden") announces today announces that it intends to complete a non-brokered private placement (the "Offering") of up to 1,500,000 common shares of the Company that are "flow-through shares" within the meaning in the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of $0.40 per Flow-Through Share for gross proceeds of up to $600,000. The Company may, in its sole discretion, increase the size of the Offering, by up to 15% for up to an additional 225,000 Flow-Through Shares. The securities to be issued under this Offering will be offered by way of private placement in the provinces of Ontario and such other provinces or territories of Canada as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. In addition, the securities will be subject to a four-month hold period which will expire four months from the date of closing of the Offering. Closing of the Offering may occur in one or two tranches with the first tranche anticipated to occur on or about February 16, 2021. The Offering is subject to acceptance by the TSXV and other customary conditions for a transaction of this nature. The gross proceeds from the Offering will be used for exploration on the Company's Nickel projects in Manitoba and its Silver rich polymetallic projects in New Brunswick, Canada. Certain officers and directors of the Company are expected to subscribe under the Offering on the same terms as arm's length investors. The participation of such directors and officers in the Offering will constitute a "related party transaction" for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company will be exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Offering in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities that will be issued to directors and officers of the Company nor the fair market value of the consideration for the securities that will be issued to directors and officers of the Company will exceed 25% of the Company's market capitalization as calculated in accordance with MI 61-101. The Company will not able to file a material change report containing all of the disclosure required by MI 61-101 more than 21 days before the expected closing date of the Offering as the aforementioned insider participation has not been confirmed and the Company wishes to close the Offering as expeditiously as possible. About Wolfden Wolfden is an exploration and development company focused high-margin deposits in good jurisdictions. Its wholly owned Pickett Mountain Project is one of the highest-grade polymetallic projects in North America (Zn, Pb, Cu, Ag, Au). This relatively advanced project is well-located near excellent infrastructure that will support straight forward development as detailed in a Preliminary Economic Assessment date September 14, 2020. For further information please contact Ron Little, President & CEO, at (807) 624-1136 or Rahim Lakha, Corporate Development at (416) 414-9954.