Dundee Corporation Acquires Further Interest in Woulfe Mining Corp.

In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A)
("Dundee") announces that it has acquired $4.0 million in principal amount of
convertible unsecured subordinated debentures ("Debentures") of Woulfe Mining
Corp. ("Woulfe"). Each $1,000 principal amount of the Debentures is convertible
at the option of Dundee into 7,692 common shares (each a "Common Share") or
7,692 preferred shares (each a "Preferred Share") of Woulfe, representing a
conversion price of $0.13 per Common Share or Preferred Share (the "Conversion
Price"), as the case may be. Each $1,000 Debentures also included 7,692 common
share purchase warrants of Woulfe (each a "Warrant"), such that an aggregate of
30,768,000 Warrants were acquired by Dundee. Each Warrant entitles Dundee to
acquire one Common Share at a price of $0.13 per Common Share until March 7,
2019.


When aggregated with existing positions owned or controlled by Dundee, Dundee
now holds 56,394,423 Common Shares and securities exercisable or convertible, as
the case may be, to acquire an additional 92,287,360 Common Shares. In
aggregate, the positions owned or controlled by Dundee represent an approximate
16.2% interest on an undiluted basis and up to 33.7% assuming the conversion or
exercise of all convertible securities into Common Shares.


The position in Woulfe 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.


ABOUT DUNDEE CORPORATION

Dundee Corporation is a public Canadian independent holding company listed on
the Toronto Stock Exchange ("TSX") under the symbol "DC.A". Through its
operating subsidiaries, Dundee Corporation is engaged in diverse business
activities in the areas of its core competencies including investment advisory
and corporate finance, energy, resources, agriculture, real estate and
infrastructure. Dundee Corporation also holds, directly and indirectly, a
portfolio of investments mostly in these core focus areas, as well as other
select investments in both publicly listed and private companies.


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

Dundee (TSX:DC.A)
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