This document summarizes an investment conference presentation about Woulfe Mining Corporation given by Brian Wesson, CEO. The presentation provides an overview of Woulfe's projects, including the Sangdong tungsten mine and Muguk gold project, both located in South Korea. It discusses the positive scoping study results for Sangdong and plans to increase resources through drilling, with the goal of having the mine operational by 2013. The presentation aims to demonstrate Woulfe's potential for growth in the strengthening tungsten market and seeks to raise up to C$10 million for further development of its projects.

1. Investment Conferences
RARE EARTHS, SPECIALITY
& MINOR METALS
INVESTMENT SUMMIT
3.20 – 3.45
Overview of the Tungsten Market and the challenges
of (re)opening the world’s next tungsten mine
Brian Wesson – CEO, Woulfe Mining
THE LONDON CHAMBER OF COMMERCE AND INDUSTRY ● THURSDAY, 18 MARCH 2010
www.ObjectiveCapitalConferences.com

2. REBIRTH OF THE KOREAN
MINING INDUSTRY
Brian Wesson, CEO and President
March 2010

3. Disclaimer
Statements in this presentation other than purely historical information, including statements relating to
Woulfe Mining’s future plans, objectives or expected results, constitute forward-looking statements.
Forward-looking statements are based on numerous assumptions and are subject to the risks and
uncertainties inherent in Woulfe Mining’s business, including risks inherent in mineral exploration and
development. As a result, actual results may vary materially from those described in the forward-looking
statements. Note that Woulfe Mining refers to historical resource estimates in this presentation. Source,
date, relevance, reliability and explanations on categories are presented with the historical estimates.
A qualified person has not done sufficient work to classify the historical resources as current mineral
resources. The issuer is not treating the historical estimates as current mineral resources and the
historical estimates should not be relied upon.
This PowerPoint presentation was prepared to assist interested parties 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 cases, interested parties should conduct their own investigation
and analysis of the Company, its assets and the information provided in this presentation. Any and all
statements, forecasts, projections and estimates contained in this presentation are based on
management’s current knowledge and no representation or warranty is made as to their accuracy and/or
reliability.
Unless otherwise stated, all resource and reserve estimates in the document are historical in nature and
do not comply with the current NI 43-101 reporting standards.

4. Tungsten minor metal or “super metal”
 Tungsten is 71% heavier than lead, durable,
 Tungsten melts at over 3422 degrees Celsius and boils at the
temperature of the sun 5700 C
 Resists oxidation
 High tensile strength (411 Gpa)
 Low thermal expansion
 Brinell Hardness 2570
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5. The Market
 80% market controlled by China
 60% of tungsten demand is tungsten carbide for cutting and boring tools
 20% as steel alloys
 15% wear products
 5% other
 Wonder metal used in innovation such as nuclear industry, aerospace, renewable energy.
 Expensive not toxic replacement for lead.
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6. Market dynamics China dominates APT
• China announced this week that no new tungsten mine
development licences will be issued till mid next year
• 2008 China imposed export controls and taxes on all tungsten
products (indicating the reserves may be not what we think)
• China is a net importer of tungsten, buying concentrate to
feed the hungry APT plants that have an over capacity.
• China are becoming involved in most tungsten projects
outside of China
• 2002 China withdrew from selling concentrates as it makes no
sense to sell concentrates.
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7. Challenge and down stream processing
Value of Tungsten standardised to 100%
35000
133%
30000 67%
US$ per Tonne
25000 41%
69%
20000
15000
Carbide Oxide APT Concentrate
10000
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8. Tungsten Market
 Applications – Metal-cutting tools, drill bits, high temperature alloys, military use
and chemical applications.
 Consumers – 1. China(largest growth), 2. Europe, 3. North America. India has
an emerging demand.
 Production - 81,200 tonnes Tungsten per annum,
 Forecast - 109,328 tonnes by 2012. (2% growth per year, 2190 t/y)
 Woulfe sees APT prices reaching US$250 in 18 months and higher
in the medium term , easing on the long term
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9. Woulfe the worlds next operating
tungsten/ molybdenum mine
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10. Projects
Core Projects
1. Sangdong Tungsten
Operated for 40 years one of the
worlds great mines closed 1992
2. Muguk Gold Project
Koreas largest Gold mine closed 1997
Pipe Line of Projects Seoul
1. Yeonwha Base Metals
significant historical targets
2. Uranium Vanadium
Ogchon Greenfields
3. Chongyang Tungsten
Existing closed mine
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11. Sangdong Cross Section
250m
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12. Sangdong Scoping Study March 2010
(Note scoping is to an accuracy ±30% and inferred resources)
 Wardrop Engineering completed a positive Preliminary Economic Assessment (Scoping Study) based on:
 Inferred resources in the foot wall only (57.4 Mt at 0.35% WO3 and 0.04 MoS2 )
 Resource reduced by 15% dilution at zero grade and a 95% extraction factor..
 Mining 2.5 million tonnes per annum from footwall zone, main zone pillars and hanging wall zone not included.
 Underground mining – cut-off grade of 0.1% WO3, and
 long term price forecasts of US$250/mtu APT and US$15/lb Mo
 Production APT 815,357 mtu (each unit 10Kg ) 8,154 Tonnes APT per annum
 Model based on foot wall zone and 15 years production.
 Key project parameters are:
 Capital US$289 million including contingency of 15% of Direct Mining Cost, 10% of Other Direct Costs
 26.5% IRR
 3.4 years payback on capital
 Direct cash operating costs of US$32.60/t processed, (Cash margin $22.64 per tonne ore milled)
 NPV of US$463M pre-tax @ 8% real discount rate,
 Break even 0 NPV at 8% at APT price US$163 mtu cash margin
 Resources base 103.2 million tonnes at 0.35 WO3
 Overall recovery Tungsten 79% , Moly 80%
 Processing – crushing, grinding, gravity separation, regrind and flotation. Concentrate feed to APT (Ammonium Paratungstate
(NH4)[H2W12O42])
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13. Sangdong Project
 Historic database of ~800 holes drilled underground into skarn horizons, with 90 holes drilled
2007-2008:
 25 Km of underground development, vertical shaft and ventilation shafts in place
 Existing infrastructure, town, roads, water and power
 Application for the Phase 1 mine development license to be submitted in April to access the
mine for drilling and trial mining. Trial mining will supply bulk metallurgical samples.
 Budgeted for 20,000m drilling to drill approximately 200 holes to upgrade resources to reserve
for feasibility.
 Dewatering as we move down
 Feasibility study to be completed by early 2011
 Phase 2 license for development approval
 Project financing to be finalised by mid 2011
 Projected operations in 2013
13

14. Muguk Gold Project
 Located in historic Muguk Gold Field
 Bounded to the south by operating Yuil Gold Mine
 Summit Gold Mine to the south east currently on care-and-maintenance
 Sporadically mined from 1913 to 1990’s
 Comprises 5 mining rights covering 573ha:
 Detailed “reserves and resources” provided in a 1994 report by KORES prior to cessation of
mining:
 “reserves” of 714,000t grading 14.5g/t gold and 83g/t silver
(non NI 43-101 compliant), and
 “inferred resources” of 705,000t grading 12.5g/t gold and 62g/t silver
(non NI 43-101 compliant)
 Total contained metal of approximately 620,000oz gold and 3.3Moz silver
 Review of over 1000 face samples taken by Kores prior to mine closure has a mean grade of
30 g/t over an average width of 1.15 metres which is a significant target
 Drill rig moving on site to drill the Kores “reserve areas” to verify the historical sampling
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15. Muguk Gold Project
Description
 Mineralisation occurs in steeply dipping, en echelon quartz veins within Jurassic granodiorite:
 Veins fill numerous N-NW trending fractures dipping at 70-85° to E-NE;
 Veins extend discontinuously along strike for 400-2,000m on surface; and
 Veins extend down dip to depths of up to 800m.
 Historic mining restricted to few veins:
 Samhyungje, and to a lesser extent Keumryong and No’s 2, 7 and 8
 KORES resource largely restricted to Samhyungje Vein below 400m depth
 Secondary veins and depth extensions to be evaluated
 Significant development in place to 600m depth
 Historic adits/shafts to be assessed for mine access
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16. Muguk Gold Project
Muguk Mining Titles Historic Mine Workings Plan
A Mineralisation
Dip 75 degrees ENE
A1
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17. Muguk Gold Project
Strike of veins 2200 metres
Muguk Longitudinal Section A1
A
600 metre depth
Lodes open at depth Kores delineated reserve of
Mined Areas at closure (1994)
620,000 ounces in 1992 which is
Resource Defined by KORES (1994) not NI43-101 compliant and can
(non NI43-101 compliant) not be relied on
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18. Management
Brian Wesson CEO/ President –Engineer with 30 years’ experience, has an MBA and
Fellow of the Australian Institute of Mining and Metallurgy and Fellow of Australian
Institute of Company Directors. Brian has extensive experience in the operation, design
and construction of mines and process plants. Having worked for Rand Mines South
Africa for 17 years on Harmony Gold, Durban Deep, ERPM and moved to Asia Pacific in
1993. Executive of Emperor mines prior to forming Westech International Sydney,
working with small to medium mining companies resolving technical and operational
problems and in the development, design and constructions of mine projects. Westech
purchased the Emperor Mine Fiji that was closed in 2006 and reopened and put it back
into production prior to listing in London and handing it to River Diamonds now Vatukoula
Gold.
Amelia Wesson Director/ VP Admin and Corporate- 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.
Bill Kable VP Technical (CGeol, BEcon, BComm, MAusIMM, SIA(Aff), MPESA) is an economic geologist with over 30 years
experience in the minerals, oil and gas and broking industries. His specialisation is valuation and due diligence studies for public
reports, corporate mergers, acquisitions and company floats. He has wide experience of projects throughout Australasia, Africa
and South America.
Mr Kable is the Principal of the mineral consulting firm Kable Resource Associates Pty Ltd (KRA) based in Sydney Australia, and
is an Associate Consultant to the international consulting group Behre Dolbear Australia.
Mr Shin Chief Operating Officer Korea – 25 year career in Korean Tungsten Corporation rising to an executive position in
domestic and international marketing of Tungsten, based out of Europe. Mr Shin knows the mine the market and Tungsten
making him a excellent manager. Mr Shin has access to all the technical staff that built the upgraded Korean Tungsten mine and
APT plant. Having these skills available in Korea makes the redevelopment of Sangdong a very achievable task.
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19. Woulfe listed TSX-V “WOF”
Issued Shares : 183,408,493
Warrants : 58,875,000
Options : 7,450,000
Fully Diluted : 249,733,493
Previous raising : C$6.6 million
Previous basis: 8 cents , ½ warrant at 12 cents
Board changed control 18th Dec 09
Board reduced 8 to 5 with 3 new Directors
CEO/ President Brian Wesson FAusIMM
Current share price: C$0.21
Current market cap: C$38.5M
Major Shareholders: Commonwealth Bank , Colonial First State (15.8%)
Resinco (13.8%)
Sim Jae Youl (11.3%) Vendor of project in Korea
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20. Why Woulfe
– Large asset with minimum of 15 years life.
– Market cap C$38 million, 21 cents per share
– Scoping study indicates a value at an 8% discount of NPV 462 million.
– 183 million shares , equates to $2.50 per share, some 12 times the current share price. Noting that the
Value
resources are inferred and the scoping is typically within 30% the value still remains substantial.
– Scoping only considered 45% of the inferred resource and diluted it by 15% at zero grade.
– Scoping assumed new mine infrastructure and ignored all existing underground infrastructure
– Current resource grades are considered conservative, drilling and block modelling has a potential
produce an upgrade in grade as the level of confidence is improved.
– Tungsten markets are tightening as China has restricted exports and imposed taxes. APT demand is
Growth increasing and the supply side has barriers to development. Sangdong is well positioned to be the
worlds next large tungsten mine as it has infrastructure and underground development in place.
– Sangdong is well placed to be commissioned in 2013 which will coincide with the high tungsten prices
as market friction and barriers that other projects have to development.
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21. Investment Case
 Diversified mining development company with exploration “blue sky” potential
 Experienced management team
 South Korea focus
 Portfolio of quality assets:
 Development stage Sangdong tungsten-molybdenum mine;
 Development stage Muguk gold mine; AND
 Exploration stage base metal and uranium properties.
 Low operational risk
 Low country risk
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22. Fundraising
 Woulfe is seeking to raise up to C$10m with a potential greenshoe of up to C$5m
 The proceeds of the fundraising will be used for:
 20,000 m drilling programme at Sangdong
 Environmental Impact Statement well progressed and will be completed for Sangdong
 Assess the condition of the Sangdong underground accesses and old workings
 Conduct any dewatering, installation of services and stabilising works required @ Sangdong
 Complete the Sangdong mine block model
 Conduct trial mining and metallurgical test work @ Sangdong
 Complete a Feasibility Study @ Sangdong
 1,400 m drilling programme @ Muguk
 Exploratory drilling to meet minimum work commitments to maintain its other licenses
 The Fundraising is anticipated to close in late March / early April
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23. www.woulfemining.com
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