Wolverine Announces Financing and Additional Staking in Labrador

Vancouver, British Columbia--(Newsfile Corp. - January 28, 2021) - Wolverine Technologies Corp. (OTC Pink: WOLV) ("Wolverine") announced today that on October 16, 2020 a partial revocation order was obtained from the ASC which will permit Wolverine to conduct a private placement of up to 40,000,000 common shares at a price of CDN $0.0025 (USD $0.001875) per share for gross proceeds of CDN $100,000. The proceeds from the private placement will be used to complete all outstanding regulatory filings. Once the filings have been completed Wolverine will be eligible to apply for a full revocation of the failure-to-file cease trade order dated October 5, 2020.

During 2020 Bruce Costerd, Manager, Corporate Finance, of Wolverine negotiated the terms of a settlement agreement with Rajeev Bharghava, CEO of Decision-Zone Inc. ("DZI") to conclude the DZI/Chalk litigation. A formal settlement agreement outlining the terms negotiated was sent to DZI for execution, however, DZI as represented by Rajeev and Nalini Bharghava, refused to accept the settlement agreement, returned a revised and unreasonable draft of the settlement agreement, and terminated any further negotiations. Wolverine will continue to make every reasonable effort necessary for a successful conclusion of the technology project. At the present time Wolverine will be returning to mineral exploration.

Wolverine has recently staked an additional 47 mineral claims in the Cache River area of Labrador. The Cache River Property is now comprised of 53 claims and an area of 1,325 hectares (3,275 acres).

The work recently completed on the Cache River Property has identified an area that could host significant copper and gold mineralization in a previously unexplored area. Exploration programs conducted between 2006 and 2012 consisting of prospecting, trenching and diamond drilling did not return significant results. However airborne and ground geophysical surveys identified numerous anomalies. Much of the previous drilling was limited in depth and many anomalies remain untested. Prior to launching further deeper drilling, a review of all previous geophysical surveys will be completed by a qualified geophysicist to determine which type of new geophysical survey should be performed to locate deeper seated mineralization on the original 6 claims and on the new additional 47 claims that were staked in November and December of 2020. The NI 43-101 Report on the Cache River Property dated September 21, 2016 is available at www.sedar.com.

The technical content on the Cache River Property has been reviewed and approved by Timothy D. L. Froude P. Geo., as the Qualified Person.

On Behalf of the Board

Richard Haderer
CEO

For further information please contact:

Corporate Communications (778) 297-4409
[email protected]
http://www.wolverinetechnologiescorp.com

Investor Relations
Mr. Dale Shirley
Big Reach Media, Inc.
Mobile: (780) 964-4732
[email protected]
http://www.bigreachmedia.com/

The securities to be issued and sold in the private placement will not be registered under the Securities Act of 1933 as amended (the "Act") and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Act.

Timothy D.L. Froude, P. Geo. is not responsible for, or qualified to approve, any of the information or discussion regarding future financings or legal matters discussed in this News Release. Only matters pertaining to the Cache River Property lie under his jurisdiction.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future, including but not limited to, statements regarding the private placement or exploration of the Cache River Property.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consult the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73030