Woulfe Mining is developing the Sangdong tungsten mine in South Korea, which was previously one of the world's largest tungsten mines. The company has a 103 million tonne inferred resource at the Sangdong mine grading 0.35% WO3. Woulfe aims to restart production at Sangdong by end of 2012 to take advantage of strong tungsten market fundamentals. The company also owns the historical Muguk gold mine in South Korea and several uranium exploration licenses. Woulfe is led by an experienced management team and has CDN$11 million in working capital.

1. RARE EARTHS, SPECIALITY
& STRATEGIC METALS
INVESTMENT SUMMIT
The next tungsten producer
Nick Smith – Investor Relations, Woulfe Mining
IRONMONGERS’ HALL, CITY OF LONDON ● THURSDAY, 17 MAR 2011
www.ObjectiveCapitalConferences.com

2. Woulfe
ON THE MOVE
SANGDONG 2012
Nick Smith
Investor Relations
March 2011

3. Disclaimer
Statements in this presentation, excludes all historical cases, interested parties should conduct their own
information, constitute forward-looking statements relating investigation and analysis of the Company, its assets and
to Woulfe Mining’s future plans, objectives or expected the information provided in this presentation. Any and all
results. Forward-looking statements are based on statements, forecasts, projections and estimates contained
numerous assumptions and are subject to the risks and in this presentation are based on management’s current
uncertainties inherent in Woulfe Mining’s business, knowledge and no representation or warranty is made as to
including risks inherent in mineral exploration and their accuracy and/or reliability.
development. As a result, actual results may vary materially Unless otherwise stated, all resource and reserve estimates
from those described in the forward-looking statements. in the document are historical in nature and do not comply
Note that Woulfe Mining refers to historical resource with the current NI 43-101 reporting standards.
estimates in this presentation. Source, date, relevance,
reliability and explanations on categories are presented with - to sell or a solicitation tonot constitute ansecurities in the
This presentation does
buy any of the
offer
the historical estimates.
United States. The securities have not been and will not
A qualified person has not done sufficient work to classify be registered under the United States Securities Act of
the historical resources as current mineral resources. 1933, as amended (“the U.S. Securities Act”) or any state
The issuer is not treating the historical estimates as securities law and may not be offered or sold in the United
current mineral resources and the historical estimates States or to U.S. Persons unless registered under the
should not be relied upon. U.S. Securities Act and applicable state securities laws
This presentation was prepared to assist interested parties or an exemption from such registration is available.
in making their own assessment of Woulfe Mining and its
mineral properties, and does not purport to contain all of the
information that a prospective investor may desire. In all
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 03

4. Woulfe Mining Philosophy
Focus
Woulfe is in the business of generating
returns for its shareholders, as a growth
stock, then moving to cash flow and
dividends.
Through
Locating and developing projects that have
known mineralisation in countries that
provide security of title and respect
capitalism. -
Proviso
Environment, safety and respect of cultures
is paramount to our business.
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 04

5. South Korea: The country
► 11th largest economy
► 7th largest trading country
► Major Korean success stories
include:
Samsung, Hyundai, Kia, LG,
independent nuclear power
generation,
worlds largest ship builder,
POSCO.
► Population of 50 million people -
► Moody’s A1 credit rating
► Robust stock market
► OECD country, BRIC “K”s
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 05

6. South Korea Open for Business
► Highly educated and motivated people
► Sophisticated infrastructure
► World’s fastest internet backbone
► Local market for all Woulfe’s commodities
► Globally competitive construction, civil
engineering skills
► Allows 100% foreign ownership of
businesses
-
► 20% corporate tax rate, tax incentives
► No royalties or export tax
► Supportive, business driven government
► “Resource Priority Policy” by incumbent
Government
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 06

7. Investment Hightlights
Woulfe, a compelling investment story:
► Proven Track Records
• Marginal risks of mineralisation or grade as attested by Korea Tungsten/Korea Resource Corp
after 900+ drill holes
• Reopening of the world’s largest tungsten mine at US$340+ APT/MTU, which
was closed when APT price was US$40 MTU
► Full Support from Government and Community
• Special decree on rehabilitation of closed mines
• Current regime’s Resource Priority Policy
-
• Swift & fast track environmental permits – PERS in several months
► Growing Demand & Continued Pressure on Price
• China declared lowering export quotas with respect to soaring domestic demand;
appreciation of Rmb
• A few tungsten mines in the world to be developed to counter China restricting exports
• Off-take agreements are available to be entered
► Investment Commitment Secured
• Korea Zinc is an investor, board member and is providing local assistance
• Company has CDN$11 million in the bank and warrants and options in the money
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 07

8. Fundamentals of Tungsten
Market
► 60% of tungsten used for machine tools
► Demand driven by world economic
expansion
► China supplies 84% of tungsten products
► China has declared tungsten a strategic
metal and implemented controls on exports
► No new mines expected to open in China
until Quarter 3 2011 -
Metal Properties
► Highest Melting point of all metals – 3422 Co
► Wear resistant – 100 times longer then steel
in conditions including abrasion, erosion
and galling
► Expansion – lowest of all metals
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 08

9. Tungsten Markets Tightening
Tungsten Price – 2010 US Dollars Tungsten APT FOB PRC
-
Source: www.metal-pages.com
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 09

10. TSX-V Trading
KZ $10 million
New management
placement
Scoping study released Announce deal Korea Zinc
Initial raising free trading
Secure crushing plant
5000 m drilling program
European debt crisis / Announce start of
-
feasibility Study / Receive mining approval
Trading Shares 265,106,833 Major shareholders over 10%
Warrants 45,156,750 (0.12c) exp Dec 12 No 1 Colonial First State (Commonwealth Bank Aus
Options 12,325,000 No 2 Korea Zinc Co, Ltd
Current cash
Fully Diluted 322,588,583 CDN$11 million
position
Liquidity Ave Volume 1 million per day Current Market Cap CDN$60 million
01
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 0

11. 40
35
30
25
20
15
10
5
0
Woulfe Mining Corp
North American Tungsten
Largo Resources
Wolf Minerals
WO3 Resource in million mtu
Playfair Mining
Geodex
King Island Scheelite
-
Galway Resouces
Sangdong Project Comparison
Vital Metals
Hazelwood Resources
Ormonde Mining
Icon
Malaga
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 10

12. Sangdong Resources
Sangdong Inferred Resources – March 2010 Close on 900 holes have been drilled to define
tungsten resources
Zone M.Tonnes WO3%* MoS2%**
Hanging Wall 45.8 0.32 00.5
Foot wall 57.4 0.37 0.04
Totals 103.2 0.35 0.04
* Cut-off grade 0.1% WO3
** NI-43-101 compliant
-
Moly stockwork
► Historical drilling suggests grades of 0.3
to 0.4% MoS2, indicating a target of
over 15 Mt.
► MoS2 Wardrop NI43-101 wire frame
inferred resource of
7.1 MT @0.18% MoS2
► Cut-off 0.16%
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 12

13. Unmined Ore Zones Discovered
► Hanging and foot wall veins mainly unmined
► Main high-grade lode unmined on margins
► Target 11 million tonnes of better-than resource grade
► The hanging wall and foot wall lodes 103.6 Mt inferred
resource
► Scoping based on foot wall only
Going Forward
► Drilling of the unmined areas above 1 level to define
-
reserve for initial 10 years
► Update resource
► Mine plan focused on mining 1.2 million tonnes over 10
years that recoups the capital within two years
► Final permitting for production, extended area
► Feasibility Study and Environmental Impact Assessment
► Definitive mine design
► Finalise funding and construction decision
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 13

14. Sangdong Project Development Timetable
Target date to commission Sangdong Mine end of 2012
► New Board and Management.
Q4 2009
► KPMG review of property
Q1 2010 ► Scoping study C$480 million NPV at US$250/mtu APT, resource 103.6 million tonnes @0.35%WO3
► Mine Development License approved
Q2 2010 ► Underground mine reopened and first access for 18 years
► Wardrop Engineers appointed for feasibility study
► Established site accommodation offices and services
► Digitised mine plans
Q3 2010
► Opened main access and restore first 900 metres
► Discovery of large unmined areas above valley floor
► Drilling started underground Sangdong 5000 metres
► Crusher plant secured for process plant
Q4 2010 ► Mine site and plant layout completed -
► Optimum process size 1.2 million tonnes per annum producing 400,000 mtu WO3 and 500,000 lb MoS2
► First pass mine plan completed
► Korea Zinc closed C$10 million equity at 30 cents
► Mine development layout completed
► 21st Jan at AGM Korea Zinc appointed to Woulfe Mining Board of Directors
► Electric power supply for underground established with new surface substation.
► Resource drilling accelerated due to delays with two surface and two underground diamond drill rigs.
2011 ► Definitive process plant design underway
► Off-take contracts
► Upgrade resource statement.
► Secure major pieces of equipment, crusher already secured
► Surface drilling to compliment underground drilling
► Complete all approvals for extended mine area and production
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 14

15. Muguk Historically Korea’s Largest Gold Mine
► Korea’s largest historical gold deposit.
► 8 parallel veins, 2.2 km strike known to extend
600 m on dip and are open on strike
► Historically produced 8 million ounces gold
► 1994 KORES calculated a historical non- NI 43-
101 compliant *620,000 oz at a gold grade of
13.5 g/t and 3.3 Moz at a silver grade 78.6 g/t at
a 10 g/t cut-off
► Mine closed in 1997, due to gold price
-
► Mining Lease 567 hectares
► Woulfe has a planned drilling program at the
Muguk property
Yuil Gold Mine
* Historical estimate does not comply with Canadian National
Instrument 43-101 and can not be relied on by investors.
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 15

16. Muguk Drilling
Historic Mine Working Plan
Planned Drill hole
Three Brothers vein was the source
of 80% historical ounces.
Mineralisation
Dip 75 degrees ENE
Exploration hole 1
1 metre @3.3 g/t gold, 14 g/t silver
- and 0.3 m @7.8g/t gold , 38g/t
silver
Exploration hole 2
0.3 m @ 16.7 g/t gold, 16 g/t silver
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 16

17. Uranium Projects
► Korea is a uranium friendly country with more
than 50% of their power generated from
nuclear sources
► Korea is an emerging nuclear power station
builder
► 7 uranium/vanadium mining leases granted
with 4 in final application
► Miwok and Glean areas seen to be the most
prospective areas. KORES has carried out
- drilling along side one of the properties finding
grades of 0.04% uranium, however, vanadium
runs as high as 0.3%
► Uranium mineralisation is stratabound, hosted
in 200m thick Guryongsan Slate
► Woulfe has purchased an XRF unit and ground
geochemical analysis during the year has been
instrumental in an increase in licensed areas
and sets the ground work for NI 43-101
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 17

18. The Woulfe Team
Executive Management Woulfe Technical
► Brian Wesson – CEO/President FAusIMM, MBA ► Don Smith Manager Geology
► Mark Gelmon – CFO ► Dr Kun-Joo Moon, PhD from Tasmania worked on the
Sangdong deposit
► Amelia Wesson Director – VP Admin/Corporate
► Kwan-Yi Jeong Mining Engineer 5 years as
► Bill Kable – VP Technical MAusIMM
GM Muguk Gold
Korea Subsidiary
► Bog-Gon Kim Geologist 30 years service
► Tiger Kim – CEO/President Sangdong with 28 years in at Sangdong Mine
investment banking, numerous base metal companies, -► Colin Lutherborrow MAusIMM Resource Geologist
M&A’s, IPOs, operations and restructuring
► Peter Gilligan Mining Engineer 30 years experience in
metalliferous and coal
► Mat Bolu – Mineral Process Engineering 30 years
experience in tungsten industry
► Arne Rahnel - Manager Projects 35 years experience I
n design
► Alind Nand – Geologist MSc Aus 15 years experience as
Technical Service Manager
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 18

19. Board of Directors
Brian Wesson CEO / President, Representative Director Korea
► Brian is an engineer with 30 years’ experience in South Africa and the Asia Pacific managing and building mines. Westech International
took over the Emperor mine assets in Fiji restarting the mine and listing the company on AIM London. Brian has
an MBA, Fellow of the Australian Institute of Mining and Metallurgy and Fellow of Australian Institute of Company Directors.
John Icke, Director
► John is a major shareholder and has over 25 years’ global management experience in both the private and public sector. Currently CEO of
Resinco Capital Partners Woulfe’s third largest shareholder.
Hubert Marleau, Director
► Hubert is Chairman, Co-Founder and Director of Palos Capital Corporation. With over 30 years of experience in the business and financial
community, Hubert has been Governor of the Toronto, Montreal and Vancouver Stock Exchanges, and a director of the Investment Dealer
Association of Canada.
Amelia Wesson, Vice President Administration and Director Korea-
► Amelia is a Principal of Westech who was instrumental in working with governments and staff to restructure the Vatukoula
Mine from 2,200 staff to 700 and induct and retrain the staff. Amelia previously worked in companies servicing the large mines in South
Africa giving her an excellent understanding of personnel and administration.
David Constable, Director
► David is a geologist with over 40 years exploration and development experience in Canada and internationally. David holds BSc
(Hons.) and MBA, chartered director having worked as an executive of mining companies such as Normandy Mining Limited FNX
Mining Company Inc.
Mr Yun Choi, Director
► Mr. Yun Choi holds a Juris Doctorate degree from the US and is an executive director of Korea Zinc. He is currently serving as a
Chief Executive Officer of ICM Pachapaqui S.A.C in Peru and Vice-president of Pan Pacific Metal Mining Corporation in Canada.
ICM Pachapaqui and Pan Pacific Metal Mining Corporation are wholly-owned subsidiaries of Korea Zinc.
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 19

20. Risk Mitigation
Finance options Licensing
► Company has CDN$11 million in the bank ► Mine development license was approved
and warrants and options in the money. in June 2010, currently applied to expand land
holding.
► The Korea Zinc HoA suggests a further
CDN$40million in equity to be placed into the ► The mine footprint is small and the old mine site is
Woulfe subsidiaries. owned by the county.
► On completion of feasibility study Korea Zinc will ► Final mine and process development will be
then arrange the residual finance of approximately submitted to state and county authorities for
CDN$75 million or what is required to complete construction approval.
development of the Sangdong Project. -
Country
Technical ► Stable government, 20% tax, 10 years tax losses,
5 years tax exemption and no royalties, or
► Sangdong Project was mined producing tungsten,
molybdenum and bismuth for 40 years. export tax.
► Strong rule of law.
► Known technology to be installed by global
and local experts. ► North Korea situation is not seen to be relevant as
it has existed for years.
► Power and infrastructure on site.
► Provincial, County and people of Sangdong
► Focus on tungsten, molybdenum, gold,
support the project.
bismuth, uranium, zinc and lead all growth metals.
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 20

21. Woulfe Mining and Korea Zinc Signing
The Team The Signing
f
-
Congratulations
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 21

22. Investing in Woulfe
Sangdong Value Other Projects Value
► Drilling underway to define historical reserves ► High grade molybdenum stock work not included
and support feasibility study. in study.
► The unmined area around infrastructure above ► Muguk Gold, initial two drill holes last year,
level one to provide first 10 years mining. confirmed historical data on vein 7. Plan to drill
Three Brothers vein which was the largest vein
► Main lodes mostly unmined around
on the field.
infrastructure.
► Uranium/vanadium mining lease increased from
► Mine design focused on 1.2 Mt/a and 400,000
7 to 11, made slow start last year to evaluate the
Mtu WO3. - areas.
► Feasibility underway, scoping study confirmed
► Yeonwha lead/zinc previously operating mine
project economics at US$250 /Mtu tungsten
was secured last year. No work carried out to
APT.
date.
► Metal prices have remained strong, up over 70%
► Chongyang tungsten mine was secured last
in 12 months and 37% on scoping study.
year.
► Resource suggests a mine life of 50 years.
► Korea Zinc is committed to assisting Woulfe in
moving project forward.
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 22

23. Woulfe Mining Corp Unlocking Value
Brian Wesson President/CEO
brian.w@woulfe.com.au
P +61 4144 06611
Nick Smith, San Francisco
nsmith@nicolastreetcapital.com
P +1 (415) 829-7865
Barbara Komorowski Renmark
Financial communications
bkomorowski@renmarkfinancial.com
P +1 (514) 939-3989
- Dr Eva Reuter Europe
e.reuter@dr-reuter.eu
P +49 (0) 251 980 1560
Corporate office Canada
Marion McGrath Corporate Secretary
mcgrath@iocorporate.com
408-837 West Hastings Street,
Vancouver, BC, V6C 3N6, Canada
P +1 604 684 6264
F +1 604 684 6242
www.woulfemining.com
WOULFE TSX-V “WOF” | Woulfe on the move ̶ February 11 | 23