Zinifex Acquires Wolfden Resources

Zinifex Limited and its wholly owned subsidiary Zinifex Canadian Enterprises Inc. (ZCE) completed their acquisition of Wolfden Resources Inc. on June 16, 2007. Zinifex is a major zinc, lead and silver producing company with its head office in Melbourne, Australia. Wolfden Resources Inc. is a Canadian-based mineral exploration and development company with a portfolio of exploration and development properties in Nunavut.

On April 2, 2007, ZCE commenced a takeover bid to acquire all of the shares of Wolfden for $3.81 cash per share, for a total price of approximately $345 million, pursuant to a support agreement with Wolfden and lock-up agreements with Inmet Mining Corporation, Goldcorp Inc. and the officers and directors of Wolfden. Approximately 95 per cent of the outstanding common shares of Wolfden were deposited to the takeover bid, and the remaining shares were acquired through a compulsory acquisition.

Zinifex was led by its general counsel and secretary, Francesca Lee, with assistance from Kevin Thomson, Lisa Damiani, Richard Fridman, Kevin West and Robin Upshall (corporate); Geoffrey Turner and Christopher Anderson (Canadian tax); and Scott Semer and Jennifer MacDonald (US tax) of Davies Ward Phillips & Vineberg LLP. Zinifex was also advised by Christopher Baldwin, Diana Valiela, Geoffrey Wiest, Christine Kowbel and Johanna Fipke (mining, environmental/regulatory) and John Christian (corporate) from Lawson Lundell LLP in the Northwest Territories, Nunavut and in British Columbia.

Wolfden was represented by Stikeman Elliott LLP, with a team that included Mihkel Voore, Raymond McDougall and Andrea Crum-Ewing.

With respect to the lock-up agreements, Inmet was represented by vice-president, general counsel and secretary, Steve Astritis, with assistance from Christopher Fowles from Torys LLP and Goldcorp was represented by Mark Bennett from Cassels Brock & Blackwell LLP.