In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A)
("Dundee") announces that it has acquired 5,602,000 common shares of Woulfe
Mining Corp. ("Woulfe Mining") through the facilities of the TSX Venture
Exchange. Dundee now owns 39,789,500 common shares and 10,000,000 warrants,
representing an approximate 11.86% interest in Woulfe Mining on an undiluted
basis or 14.41% assuming the exercise of all warrants.


The position in Woulfe Mining was acquired for investment purposes and may be
increased or decreased in the future as considered appropriate in light of
investment criteria, market conditions and other factors and in accordance with
the provisions of applicable securities legislation.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Dundee Corporation
Ned Goodman
President and Chief Executive Officer
(416) 365-5665


Dundee Corporation
Lucie Presot
Vice President and Chief Financial Officer
(416) 365-5157

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