Thunder Bay, Ontario, July 16, 2020 – Wolfden Resources Corporation (WLF.V) (“Wolfden” or the “Company”) announces that an aggregate of 1,070,000 restricted share units (“RSUs”) have been granted to management of the Company pursuant to the terms of their employment agreements and in respect of annual performance in 2019. Each RSU entitles the recipient to receive one common share in the capital of the Company, or a cash payment equal to the equivalent of one common share in the capital of the Company, following the vesting period of the RSU.