Wolverine Announces the Start of Exploration on the Frog Property

Vancouver, British Columbia--(Newsfile Corp. - October 17, 2022) - Wolverine Resources Corp. (OTC Pink: WOLV) ("Wolverine") announced today that, in conjunction with 86835 Newfoundland & Labrador Corp ("86835"), exploration activities have commenced on the 7,843 hectares (19,380 acres) Frog property located approximately 30 kilometres south of the Voisey's Bay nickel, copper, and cobalt deposit operated by Voisey's Bay Nickel Company Ltd. The program consists of prospecting in an area of strong magnetics delineated by a ground magnetics survey completed earlier in the year.

In 2021 and early 2022, initial exploration programs on the Property consisted of prospecting, rock geochemistry, and ground magnetics. A strongly magnetic 180 to 360 m wide body was outlined extending 1.4 km across a northeast trending canyon bounded by steep walls. Prospecting will attempt to find a source of the magnetic anomaly. As well, following the discovery of possible rare earth mineralization in September 2022 to the north of the magnetic anomaly, attempts will be made to find outcroppings containing additional rare earth mineralization.

The Frog Property is 60% owned by 86835 and 40% owned by Wolverine.

86835 Newfoundland & Labrador Corp.

86835 is an Innu owned and operated private mineral exploration company which owns mineral properties in both Newfoundland and Labrador.

86835 would like to thank the Junior Exploration Assistance program of the Mineral Development Division of the Province of Newfoundland and Labrador for financial assistance related to the program.

On Behalf of the Board

Bruce Costerd
CEO

For further information please contact:

Bruce Costerd (778) 297-4409
investor@wolverineresourcescorp.com
http://www.wolverineresourcescorp.com

Investor Relations
Mr. Dale Shirley
Big Reach Media, Inc.
Mobile: (780) 964-4732
dale@bigreachmedia.com

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 exploration of the Frog 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/140760