Woulfe Shareholders Approve Plan of Arrangement With Almonty Industries Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 21, 2015) - Almonty Industries Inc. (TSX VENTURE:AII) ("Almonty") and Woulfe Mining Corp. (CSE:WOF)(FRANKFURT:OZ4) ("Woulfe") are pleased to announce that Woulfe shareholders voted overwhelmingly in favour of the Plan of Arrangement pursuant to which Almonty and Woulfe will proceed with a business combination in which Almonty will acquire all of the outstanding common shares of Woulfe that Almonty does not already own by way of a court approved plan of arrangement (the "Arrangement").

Woulfe Mining Corp. Special Meeting of Shareholders
Total Votes Cast at the meeting ( from total issued and outstanding of 367,528,053)				227,420,394
Voted % of issued and outstanding				61.88%
Resolution to Approve	Votes cast FOR	% of votes cast FOR	votes cast AGAINST	% of votes cast AGAINST
Arrangement Agreement (66 2/3%)	222,990,744	98.05%	4,429,650	1.95%
Disinterested Shareholders (50% +1)	160,919,362	97.32%	4,429,650	2.68%

(1) As a ballot was not required, the number of votes disclosed in the above table reflects only the proxies received in advance of the Special Meeting.

(2) 227,420,394 shares (61.88%) were voted by proxy. 241,409 shares (less than 1.0%) were voted in person at the meeting.

Under the terms of the Plan of Arrangement, each Woulfe shareholder will receive 0.1029 of one Almonty common share for each Woulfe share held. In order to receive the consideration, Woulfe shareholders should follow the instructions that are set out in Woulfe's Management Information Circular dated July 28, 2015, available at http://www.sedar.com/ under Woulfe's SEDAR profile. Woulfe's optionholders will receive replacement Almonty options, and Woulfe warrants and debentures will remain outstanding in accordance with their terms.