KOREA ZINC COMPANY, LTD. ANNOUNCES ACQUISITION OF COMMON SHARES OF WOULFE MINING CORP.

SEOUL, Korea, Jan. 6 /CNW/ - On January 6, 2011, Korea Zinc Company, Ltd. ("KZ") purchased for its own account 29,999,983 common shares (the "Shares") of Woulfe Mining Corp. ("Woulfe" trading symbol "WOF" on the TSX Venture Exchange), representing approximately 11.31% of the issued and outstanding Shares, at a price per Share of $0.30. The acquisition took place pursuant to a subscription agreement dated December 15, 2010. KZ now holds 29,999,983 Shares and, through Colwell Kennedy Australia Pty., Ltd., a wholly-owned subsidiary of KZ, 1,000,000 warrants to purchase Shares (the "Warrants") that were purchased in a prior transaction. If each of the Warrants were exercised today, KZ would hold approximately 11.65% of the issued and outstanding Shares. The acquisition of Shares by KZ was made for investment purposes and was made on a prospectus-exempt, private placement basis, in reliance on the "minimum amount" exemption in Section 2.10 of National Instrument 45-106 - Prospectus and Registration Exemptions of the Canadian Securities Administrators. In connection with the transaction, KZ and Woulfe also entered into an equity participation agreement dated as of December 15, 2010 providing KZ with a pre-emptive right to participate in all future issuances by Woulfe of equity securities.

For further information:

For additional information, or to obtain a copy of the report required pursuant to the early warning reporting requirements, please contact:

Korea Zinc Company, Ltd.
142 Nonhyun-Dong
Gangnam-Gu
Seoul, Korea
Attention: Eui Ryung Lee, President
Phone: 011-82 -2-519-3409

Profil de l'entreprise

KOREA ZINC COMPANY

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