TORONTO, ONTARIO, Dec 05, 2012 (MARKETWIRE via COMTEX) -- In accordance with regulatory requirements, Dundee Corporation CA:DC.A +1.12% ("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.

                Contacts:        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