Wolfden intercepts positive precious metals at Canoe Landing

Metallurgical Test Work Indicates Potential to Double Gold Recoveries

TORONTO, ON / ACCESS Newswire / August 19, 2026 / Wolfden Resources Corporation (WLF.V) ("Wolfden" or the "Company") is pleased to announce that it has completed proof of concept metallurgical testing on its wholly owned Canoe Landing volcanic massive sulphide deposit in central New Brunswick (see Figure 1) where the current potential in-situ precious metal value accounts for more than 50% of the total in-situ value. Given that standard flotation processing is expected to deliver reasonably high copper, lead zinc and silver recoveries, the work focused on how to best increase the gold recoveries from the ore which typically averages about 1.0 g/t Au. The results of that test work indicate that gold recoveries can be increased from 32 to 60 percent via Bio-oxidation and thereby the potential to significantly impact the economics of this large VMS deposit.

The deposit was first discovered by Rio Tinto in the 1960's and drilled by Noranda in the 1980's and represents one of the largest un-developed polymetallic mineral deposits in the Bathurst mining camp. Like most VMS deposits in the Bathurst camp, there was little attention paid to recovering the precious metals due to lower metal prices and the higher costs associated with improving those recoveries. However, at current and forecast precious metal prices and using modern mineral processing techniques, the Company's focus has been to ascertain if the project has the potential to be economically developed in one of the most supportive mining jurisdictions in North America.

( See additional mineral resource estimate information below)

The Company worked with the Research and Productivity Council of New Brunswick (RPC), an independent laboratory facility, on a program to largely focus on increasing precious metal recoveries using a post flotation treatment metallurgical