Thursday, May 17, 2007
Wolfden Announces Commencement Of Compulsory Acquisition By Zinifex

Wolfden Resources Inc. ("Wolfden") (WLF:TSX) announced today that Zinifex Canadian Enterprises Inc. ("ZCE") has mailed an offeror's notice of compulsory acquisition to all remaining holders of Wolfden common shares (the "Common Shares").

Following the May 8, 2007 completion of ZCE's offer (the "Offer") to acquire all of the Common Shares, ZCE owns approximately 95% of the issued and outstanding Common Shares.

As the Offer was accepted by holders of more than 90% of the Common Shares, ZCE is now exercising its right under the compulsory acquisition provisions of the Business Corporations Act (Ontario) to acquire all outstanding Common Shares not already owned by ZCE at the Offer price of Cdn. $3.81 per Common Share. Further details are provided in ZCE's offeror's notice.

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.

For further information, please contact:
Ewan Downie, President & CEO
Phone: 807-346-1668
Fax: 807-345-0284
e-mail: Info@wolfdenresources.com
Web Site: www.wolfdenresources.com

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

Wolfden Resources Inc


	CODE : WLF.V

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Wolfden Res. is a exploration company based in Canada.

Wolfden Res. produces gold in Canada, and holds various exploration projects in Canada and in South Africa.

Its main asset in production is LUPIN MINE in Canada and its main exploration properties are RAPSON BAY, CASUMMIT LAKE and FOLLANSBEE in Canada.

Wolfden Res. is listed in Canada. Its market capitalisation is CA$ 308.2 millions as of today (US$ 330.1 millions, € 245.9 millions).

Its stock quote reached its highest recent level on June 18, 2007 at CA$ 3.80, and its lowest recent point on December 09, 2016 at CA$ 0.08.

Wolfden Res. has 81 100 000 shares outstanding.

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Corporate news of Wolfden Resources Inc

6/5/2007	HIGH LAKE RECEIVES PART 5 REVIEW STATUS
5/17/2007	Commencement Of Compulsory Acquisition By Zinifex
5/11/2007	CHANGES TO BOARD AND MANAGEMENT AND CANCELLATION OF SHAREHOL...
5/9/2007	ZINIFEX LIMITED ACQUIRES 95% OF WOLFDEN RESOURCES INC.
3/19/2007	WOLFDEN RESOURCES INC. AND ZINIFEX LIMITED ENTER INTO SUPPOR...
2/21/2007	Receives positive recommendation from the Nanavut Impact Re...

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TSX-V (WLF.V)
3.80	0

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3.80	3.80
Year l/h	YTD var.
-	-
52 week l/h	52 week var.
- - 3.80	2,433.33%
Volume	1 month var.
0	2,433.33%

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