WLV Wolverine Minerals Corp.

WOLVERINE MINERALS CORP. ("Wolverine" or the "Company") (TSX VENTURE: WLV)(FRANKFURT: 4LP) is pleased to announce that it has closed non-brokered private placements of units and flow-through units, as previously announced on May 5, 2011 for total gross proceeds of more than $5.4 million.

The Company issued 7,374,500 million units (each, a "Unit"), at a price of $0.55 per Unit, for gross proceeds of $4,055,975. Each Unit consists of one common share and one-half of one share purchase warrant (each, a "Warrant"), with each whole Warrant entitling the holder to acquire an additional common share for $0.75 per share until June 7, 2012.

The Company also issued 2,150,000 million flow-through units (each a "FT Unit"), at a price of $0.65 per FT Unit, for gross proceeds of $1,397,500. Each FT Unit consists of one flow-through common share and one-half of one non flow-through share purchase warrant (each, a "NFT Warrant"), with each whole NFT Warrant entitling the holder to acquire an additional common share for $0.75 per share until June 7, 2012.

The Warrants and the NFT Warrants are subject to an accelerated 30-day expiry provision in the event the Company's common shares trade at $1.10 or greater for a period of 20 consecutive trading days after four months from closing.

Strategic Metals Ltd. exercised its right to participate in the financing in order to maintain its 19.9 % equity interest in the Company.

In connection with the financing, the Company paid aggregate finder's fees of $77,698.50 and issued a total of 136,110 finder's warrants in accordance with the rules and policies of the TSX Venture Exchange. The finder's warrants are exercisable at $0.55 for a period of 12 months and are subject to the same accelerated 30-day expiry provision as the placement warrants.

The proceeds from the above financings will be used to fund the Company's planned $5 million exploration programs in the Dawson Range and the Finlayson Districts in the Yukon (see news release dated April 28, 2011) and general working capital.

The securities issued will be subject to hold periods until October 8, 2011 under Canadian laws and the policies of the Exchange, and certain securities will also be subject to hold periods under United States securities laws. None of the securities issued have been or will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.

WOLVERINE MINERALS CORP.

Thomas A. Doyle, President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Wolverine Minerals Corp. Thomas A. Doyle President & CEO (604) 689-5722 Wolverine Minerals Corp. Logan Anderson (604) 689-5722 604-685-9182 (FAX) info@wolverineminerals.ca www.wolverineminerals.ca