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Gold/Mining/Energy : Wolfden Resources YWO.CDNX

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To: Pete who started this subject	4/7/2003 4:04:11 AM
From: Pete	of 83

wolfdenresources.com ----------------------------- Monument Bay Drilling Intersects 5.27 oz/ton Gold At Monument Bay March 7, 2003 Wolfden Resources Inc. (TSX-V:YWO) ) is pleased to announce that ongoing drilling at the Monument Bay Property (a joint venture operated by Bema Gold Corporation) has returned drill intersections as high as 180.7g/t Au across 1.0 meters on the recently discovered Twin Lakes West Zone. A total of twelve holes have been drilled and results have been received from eight holes in the Twin Lakes West Zone identifying a new mineralized horizon (C zone). A summary of the drilling is as follows: Hole# From To Length (m) Au (g/t) Length (ft) Au (opt) Zone 03-103 311.2 312.5 1.3 11.01 4.3 0.32 C 03-105 288.2 289.2 1.0 180.7 3.3 5.27 C Incl. 288.7 289.2 0.5 360.0 1.6 10.5 C 03-106 435.6 436.9 1.3 18.8 4.3 0.55 C 03-107 265.6 267.2 1.6 23.6 5.2 0.69 C 03-108 266.4 267.8 1.4 8.45 4.6 0.25 B Based on these results, the Twin Lakes West C zone ore shoot has been extended over a strike length of 170 metres and a vertical extent varying from 50 metres to 130 metres. The ore shoot remains open. Bema personnel believe the Twin Lake West C Zone has excellent potential to host significant gold mineralization and the high grade intersection indicates the presence of some very high-grade areas within the ore shoot. Additional drilling is underway on the Twin Lake West Zone to further define the C Zone and further test the A and B Zones which returned good grade results on Bema's previous drill program. The three Horizons which host the A, B, and C Zones have been defined along a strike length of approximately 3.5 kilometres and are open along strike and at depth. Previous drilling on the Monument Bay Property has identified a high-grade resource of 300,000 ounces of gold with an average grade of 18.5 grams per tonne gold. The bulk of this resource is located with the Twin Lake Zone which remains open to the east and down dip. Based on results to date Bema intends to add a third drill rig to accelerate exploration drilling to further test the potential of the Twin Lakes, Twin Lakes West and the Seeber River Zones. Bema has fulfilled it's obligations under the option agreement to earn 51% in the Monument Bay Property from Wolfden Resources Ltd. ("Wolfden"), and Bema has notified Wolfden that it has exercised it's option to spend an additional CDN$3 million to earn an additional 19% interest in the property. Wolfden is a Canadian based mineral exploration and development company with a diversified portfolio of advanced stage properties and several ongoing exploration programs in Canada. Wolfden is debt free and has a strong treasury. For More Information Contact: Wolfden Resources 309 South Court St. Thunder Bay, ON Tel: 807-346-1668 FAX: 807-473-1977 Email: wolfden@baynet.net ---------

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