Star Metro - Wolfden Announces Positive Final Drill Results at Rockland in Nevada

TORONTO, ON / ACCESS Newswire / March 9, 2026 / Wolfden Resources Corporation (WLF.V) ("Wolfden"or the"Company")is pleased to announce positive final drill results on its Rockland Gold Project, located in the Walker Lane Trend of Nevada, USA (Figures 1 and 2). The program consisted of three drill holes for 1,600 total metres, designed to test below significant historical drill results that ended in mineralization, including 146.4 metres at 1.0 g/t AuEq in hole PG32 and 85.4 metres at 1.0 g/t AuEq in hole PG36C. Hole REP22, one of the three holes in the program that was drilled across the historical mineralized zone intersected 100.0 metres at 1.1 g/tAuEq including 40.9 metres of 1.92 g/t AuEq. The true thickness of the zone is estimated to be 85% of the drilled thickness or approximately 85 metres thick. Further drilling both up and down dip along strike is warranted to test the extent of the zone, with a focus first to follow the depth extent of the higher grade interval that returned 3.4 metres at 11.9 g/tAuEq to evaluate the potential for additional higher-grade feeders to this large disseminated gold and silver system (see Figure 3 & 4).

Highlighted Drill Hole Intercepts

"The program which included two opposing holes REP18 and REP22 was successful in defining the orientation of the mineralized zone and the potential for additional higher-grade at depth that may also extend closer to surface", stated Ron Little, CEO for Wolfden. "The intercept in REP22 strongly suggests that the mineralized zone dips steeply to the east, beyond the end of hole PG32. Given the size of the system and the grades intersected in hole REP22 (40.9 m at 1.92 g/t AuEq), our focus is as much to find more of the same down dip as it is to test the potential extent and size of the higher-grade as well (3.4 m at 11.9 g/t AuEq). As a result, drilling is expected to recommence in July to test for the continuation of the zone down dip to the east (see Figure 3 proposed holes P1 and P2)".

Hole REP18, intersected mineralization below and parallel to that intersected in hole PG32, but with a lower tenor than REP22 and hole PG32. This is not unexpected given the distance between holes and the apparent near-parallel orientation of the mineralized zone relative to that of the drill hole. Visually, both holes (REP18 and 22) host the same altered flow-banded rhyolite with similar intensities of alteration and abundances of fine-grained sulphide observed in the historical holes (see photos of PG36C and PG32 in Figure 5). Some additional study work is underway, including the interpretation of the hyperspectral data of the drill core in order to determine any mineral alteration assemblages that may associated with the higher-grade portions of the gold zones that could assist in the targeting of future drill holes and the overall understanding of the mineralized system.

The Company's third drill hole in the program, REP25, was a 300-meter step-out hole drilled to a depth of 572 metres beneath Target Hill (Target #4 on Figure 2). The hole is situated near the NE end of a 1.7km long structural corridor characterized by the presence of altered rhyolite. Target Hill is a highly altered rhyolite dome from which historical drill hole PG30 returned a 315.5 metre zone of alteration and mineralization grading 0.1 g/t AuEq (Figure 6). Hole REP25 intersected at depth a higher grade interval of 12.0 metres at 1.11 g/t AuEq in similar-looking, intensely altered flow-banded rhyolite containing fine-grained sulphides, like those seen in REP18 and 22. Results include an intercept of 12.0 m at 1.1 g/t AuEq which is higher grade than the historical hole PG30 and will be a useful indicator in the next drill target long trend.

Rockland Gold System Mineralization and Alteration

The drilling to date exhibits two distinct types of alteration-style disseminated mineralization. The earliest type is characterized by early pervasive quartz-adularia+Illite-pyrite alteration, which is locally accompanied by centimeter-scale quartz stockworks. The quartz-adularia-dominated type hosts variably oxidized low-grade mineralization (0.10 to .20 g/tAu) in the upper part of hole REP22. The second type of alteration-style mineralization consists of higher temperature, pervasive illite-pyrite+smectite, which overprints the highly brecciated early-stage quartz-adularia-dominated alteration. The overprinting illite-pyrite mineralization significantly increases the gold grade up to 15 g/t in hole REP22. The illite-pyrite overprint may locally be associated with millimeter-scale quartz stockwork veinlets, but the best grades appear to be associated with intense illite-pyrite+smectite alteration in clay-rich rhyolite-clast dominated breccias. The intensely altered high-grade mush-breccia in REP22 (3.37m at 10.87 g/t Au and 78.9 g/t Ag or 11.86 AuEq see Figure 4) was also observed in hole PG36C and is interpreted to be structural zone, which will be targeted at depth with follow-up drilling. The current depth of drilling has yet to discover the Rockland Mine-style low-sulfidation quartz veins in the system. The primary target is at depth for additional higher-grade rhyolite feeder zone mineralization that is now assumed to root within the faulted basement granodiorite.

To further support the significance of these results and the tenor or the grades, in 2024, prior to exercising the option, Wolfden collected four rock and core assay reject (non-oxidized) samples ranging in grade from 1.0 g/t Au to 10.4 g/t Au that were subjected to a 24-hr bottle roll cyanide leach testing using Leachwell as a catalyst. The results were very encouraging with gold recoveries ranging from 85% to 98% using conventional techniques. This provided Wolfden some confidence in the potential economics of the gold system and additional justification in optioning the property.

Upon completion of the additional study work the Company will determine the potential budget for the additional drilling at Rockland, which Wolfden has optioned and can earn-in up to a 75% interest as outlined in the Company's news release dated February 25, 2025. The Company believes it has met the minimum expenditure requirements and there remains only a total of US$500,000 in option payments over the next two years for the Company and its optionee partner, Evergold Corp., to earn a 100% interest in the project.

Rockland - QA/QC Comment

All historically stated drill results are based on hole lengths and were calculated from a validated drill database that includes work from several different companies. Holes 30 to 38C were drilled in 2006 and 2007 with a complete QA/QC program that included reverse circulation samples averaging 9 kilograms in weight that were collected over five-foot intervals from a wet splitter. Occasional duplicate samples were taken in the same manner. Control samples, including standard pulps and crushed marble blanks, were inserted into the sample sequence at a frequency of approximately one in every 10 samples. The samples were prepared and fire assayed for gold and multi-element analysis by a reputable laboratory in Sparks, Nevada. All drill core was HQ in size, photographed, logged, and measured for RQD (Rock Quality Density) and recovery, prior to sampling. Sample intervals were typically chosen to follow actual core block/run intervals to a maximum of five feet per sample. Control samples including standard pulps and crushed marble blanks were inserted randomly in the sample number sequence to check and verify lab accuracy. Historical control samples were inserted every tenth sample and more frequently in well mineralized zones. The recent drill program inserted alternating control and blank samples every twentieth sample.

About Wolfden

Wolfden is a North American exploration and development company focused on high-margin metallic mineral deposits including precious, base, and critical metals that represent significant development projects with the potential to produce domestic supply of strategic metals.

For further information please contact Ron Little, President & CEO at (807) 624-1136.

The information in this news release has been reviewed and approved by Ron Little, P.Eng., President and CEO, and Jeremy Ouellette, VP Project Development, who are Qualified Persons under National Instrument 43-101.

* True widths are estimated at 85% in hole REP22, otherwise others unknown. Calculation of AuEq uses a gold price of US$2000/oz and silver price of US$25/oz.

Cautionary Statement Regarding Forward-Looking Information

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events, including the potential for projects to be domestic sources of ethically produced base and critical metals for the expansion of renewable energy in North America. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, metal price assumptions, cash flow forecasts, permitting, land transactions, community and other regulatory approvals, and the timing and completion of exploration programs in the USA and Canada, and the respective drill results. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties: (i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral properties; (iv) risks relating to the estimation of mineral resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. 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 at www.sedar.com. The Company 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 applicable law.

Neither 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.

Figure 1. Rockland Property Location Map

Figure 2. Rockland Chargeability Plan Map at a vertical depth of 200 m below surface including gold-bearing surface grab samples

Figure 3. Rockland Target #1 Cross Section A-A' for holes REP18 and 22

Figure 4. Zoomed in View of Rockland Target #1 Cross Section A-A' for holes REP18 and 22

Figure 5. Photo of Altered Rholite Drill Core - REP 18, PG 36C laying on box from REP 18 and REP25 box

Figure 6. Rockland Target #4 Cross Section including hole PG-30 and REP25

SOURCE: Wolfden Resources Corp.

View the original press release on ACCESS Newswire

M.Johnston--SMC