TORONTO, Nov. 16 /CNW/ - COGITORE Resources, a division of Woodruff Capital Management Inc. (the "Company") (WOO: TSX-V) is pleased to announce that it has given notice to Loubel Exploration that the Woodruff Capital Management-Inmet Mining joint venture has now earned an undivided 60% interest in the Lemoine property near Chibougamau, Quebec in accordance with an option agreement dated June 12, 2001 between Inmet and Loubel. A subsequent agreement dated April 23, 2004 granted Woodruff the right to earn 50% of the Inmet interest in the Lemoine project. The Company expects to complete its earn in with Inmet in Lemoine in 2006. Woodruff Capital Management Inc. is a TSX Venture Exchange listed mineral exploration company, focused on base metal exploration within the Abitibi Greenstone Belt of northwestern Quebec and northeastern Ontario. COGITORE Resources, a division of the Company, retains the exploration office in Rouyn-Noranda, Quebec, and database of Kerr Addison, Inmet Mining and predecessor companies Minnova, Corporation Falconbridge Copper, Lac Dufault and Opemiska. ------------------------------------------------------------------------- The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. ------------------------------------------------------------------------- %SEDAR: 00020132E