January 5, 2004

News Release: High Lake Drilling extends massive sulphides by 200 meters at depth

WOLFDEN RESOURCES INC. (TSX:WLF) is pleased to announce that drilling at its 100% owned High Lake Property has significantly expanded the size of the West Zone massive sulphide deposit.

This drilling continues to demonstrate the West Zone's potential to become a major ore body and suggests tremendous potential to significantly expand the size of this discovery, made in mid-2003. The drill program has expanded the massive sulphide zone at depth by approximately 50%, where the deepest hole drilled to-date (assays pending), approximately 200 meters down- dip from the summer drilling, has intersected approximately 40 meters of mineralization where the deposit remains open. New Sections for 2500N and 2300N, as well as a revised longitudinal section providing revised interpretation of the West Zone can be viewed at the Wolfden web site - www.wolfdenresources.com. Assays have been received for four of the seven holes from the program. Hole 57 intersected 21.85 meters of mineralization approximately 90 meters down dip from hole HLW-03-16 (12.25m - 2.74% Cu, 4.39% Zn, 127.2g/t Ag and 0.88g/t Au) on Section 2500N and HLW-03-58 intersected 45.0 meters of mineralization approximately 50 meters down-dip from hole 57. HLW-03-56 intersected 12.1 meters of mineralization approximately 60 meters down-dip from hole HLW-03-42 (68.5m - 2.86% Cu, 4.66% Zn, 132.5g/t Ag and 2.0g/t Au), and HLW-03-59, the deepest hole drilled on Section 2450N, intersected 31.0 meters of mineralization approximately 150 meters down-dip from previously drilled holes where the deposit remains open. The following table summarizes the results received to-date:

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     Hole No.     Intersection    Int.    Cu%    Zn%   Ag (g/t)   Au (g/t)
                      (m)         (m)
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    HLW-03-56    610.50-622.60    12.10   0.90   5.31     86.9      1.6
      Incl.      619.70-622.60     2.90   2.60   2.84    179.0      4.1
    -------------------------------------------------------------------------
    HLW-03-57    325.95-347.80    21.85   2.81   5.16    159.4      1.4
    -------------------------------------------------------------------------
    HLW-03-58    351.95-396.95    45.00   0.75   4.95     59.9      1.4
      Incl.      356.15-371.30    15.15   0.30   8.19     57.2      0.6
      Incl.      386.10-396.95    10.85   1.70   1.93     66.6      3.3
    -------------------------------------------------------------------------
    HLW-03-59    337.45-368.35    30.90   2.60   5.26    176.9      1.4
      Incl.      343.45-353.30     9.85   5.60   2.67    324.1      1.7
      Incl.      354.20-368.35    14.15   0.88   7.77    106.4      0.7
    -------------------------------------------------------------------------
        Assays by Global Discovery Labs, Vancouver, British Columbia

The results contained herein have been reviewed by Harvey Klatt, MSc, PGeo, the qualified person for the project. Mr. Klatt aided in drill hole planning, implementation and quality control programs. Core is split, with half sent to Global Discovery Labs for preparation and analyses - using a Standard Classical wet assay with an AA finish.

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.

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.

VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=36782

For further information: Please contact Ewan Downie, President, Phone: (807) 346-1668, Fax: (807) 473-1977, e-mail: wolfden(at)baynet.net, Web Site: www.wolfdenresources.com

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