THUNDER BAY, ON, Nov. 17, 2017 /CNW/ - Wolfden Resources Corporation (WLF:TSX-V) ("Wolfden" or the "Company") is pleased to announce that it has been invited to participate in the Geological Society of Maine's Annual Fall Meeting to be held in Augusta, Maine, U.SA, on November 17, 2017. The theme of the meeting is 'Opportunities and Challenges Facing Maine's Mineral Resource Industries'.
Mr. Donald Hoy, President and CEO of the Company, will deliver one of several presentation at the meeting entitled 'Picket Mountain Project and Undiscovered Mineral Potential' and will participate in a panel discussion that will include Mr. Tom Saviello of the Maine State Senate, Mr. Ralph Tucker of the Maine State House of Representatives, as well as other State regulators that were instrumental in the formulation and enactment of the new mining legislation recently adopted in the State of Maine.
Mr. Donald Hoy stated, "We are pleased to be participating in this conference that is timely in terms of the completion of the Pickett Mountain acquisition and the onset of preliminary exploration prior to year-end. It presents an excellent opportunity for the Company to interact with key Government and private sector personnel that worked hard to get the new mining legislation passed."
Recently, LD 820 was enacted by the Maine legislature, permitting mining of metallic minerals in Maine in certain prescribed situations. The new legislation took effect on November 1, 2017. Prior to the introduction of proposed new legislation in 2013 and the enactment of LD 820 into law in 2017, there was little mining and mineral exploration in Maine. Interest in the geology and potential for VMS projects like the Pickett Mountain Project has been revived with zinc and copper price appreciation and the opening up of the mine permitting regime under specific prescribed limitations. Wolfden sees significant exploration opportunity in this jurisdiction that it believes is vastly under-explored.
About Wolfden Resources:
Wolfden is a mineral exploration company exploring for base metals in the State of Maine as well as nickel-copper properties in Manitoba. Manitoba is ranked #2 in Canada and #2 in the World as the most favourable jurisdiction to conduct mining and exploration (Fraser Institute (2016-2017). The Company also retains a 16,000 hectare land position in the Bathurst Mining Camp in northern New Brunswick.
The information in this news release has been prepared and approved by Donald Hoy, M.Sc., P. Geo., President and CEO and a director of the Company. Mr. Hoy is also a Qualified Person under National Instrument 43-101.
Cautionary Statement regarding Forward-Looking Information
This news release contains certain information that may constitute forward-looking information or forward-looking statements under applicable Canadian and United States securities legislation (collectively, "forward-looking information"), including but not limited to information about future drilling activities at the Pickett Mountain Project; and the scope of and the anticipated effect of new mining legislation in Maine. This forward-looking information entails various risks and uncertainties that are based on current expectations and actual results may differ materially from those contained in such information. These uncertainties and risks include, but are not limited to, the strength of the global economy; the price of base metals and minerals generally; operational, funding and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with mineral exploration and mining operations; and the ability of Wolfden to fund its substantial capital requirements and operations. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada available at www.sedar.com. Readers are urged to read these materials. Wolfden assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Wolfden Resources Corporation
For further information: Donald Hoy, President and CEO, Wolfden Resources Corporation, Tel: (807) 624-1131, Email: [email protected]