Award of £85 million Mining Services Contract

2 July 2013

Wolf Minerals

Award of £85 million Mining Services Contract

Specialty metal exploration and development company Wolf Minerals Limited (ASX: WLF) (AIM: WLFE) ("Wolf" or the "Company") is pleased to announce that it has awarded an £85 million (A$140 million1) Mining Services Contract (the "Contract") for the Hemerdon tungsten and tin project to CA Blackwell (Contracts) Limited ("Blackwell").

The Contract is made up of two parts

• Phase 1, Mining pre-strip and Mine development,

• Phase 2, Mine production.

The Contract term for phase one is 11 months from the commencement date, followed by phase 2 which has a five year term from completion of phase 1 work.

Wolf will advise Blackwell of the formal commencement date for the project work under the Contract; however it is currently expected to be in March 2014, dependent upon the progress of the project schedule.

Wolf tendered the Contract within the UK and internationally. The Company received eleven quality bids. The tenders were evaluated on the basis of quality and price. Wolf selected Blackwell for the Contract on this basis.

The Contract pricing provided by Blackwell confirms the strength of the base case financial model and compares very well with the Definitive Feasibility Study estimate of £85.5 million (A$141 million1) announced in May 2011.

Commenting on the Contract award, Wolf Minerals Managing Director, Humphrey Hale said:

"Wolf is delighted to have had such a good response to the mining tender and is pleased to be working with CA Blackwell. This is another milestone for Wolf and a headline mining project for Britain."

About CA Blackwell (Contracts) Limited

CA Blackwell (Contracts) Limited is part of the Blackwell group. Blackwell's has been established since 1956 and is a wholly owned family business that today employs around 450 people throughout the UK. Blackwell's commitment to working collaboratively with clients, suppliers, partners and the communities in which they operate has resulted in long term partnerships and ongoing success.

Blackwell has the financial strength, resources, technical knowledge and management capacity to undertake multi disciplined construction projects and has become synonymous with quality, innovation and unrivalled service. Blackwell's constructive solutions encompass the entire project delivery chain from concept development, through design, procurement, construction, commissioning and maintenance.

Blackwell operates a flat and responsive management structure, with short lines of communication between our sites and the directors of the company. The Company believe it is of fundamental importance to maintain this close link and has, at most, one layer of management between the directors and our site agents.

Blackwell specialises in:

Plant & engineering, civil engineering, earthworks, remediation, renewable energy and water & coastal.

ENDS

[1] Approximate values at a spot exchange rate of A$1.00:£0.606

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