Directorate Change

16 October 2013

Wolf Minerals

Change in Managing Director

· Humphrey Hale to step down in-line with Company's transition strategy to producer status

· Former Grange Resources managing director Russell Clark appointed as new managing director

Specialty metals exploration and development company, Wolf Minerals Limited (ASX: "WLF", AIM: "WLFE") ("Wolf" or the "Company") advises that Managing Director Humphrey Hale will step down from his role, effective today, 16 October 2013, and that Russell St. John Clark (55) will become the Company's new Managing Director.

The change in the Company's senior leadership is in line with its transition strategy as Wolf moves from the exploration and development phase of its evolution into mine construction, and eventual production, at its Hemerdon tungsten and tin project in Devon, in southwest England.

Mr Clark will commence his role with the Company with immediate effect. Mr Hale will continue to work with Wolf in a consultancy capacity for a period of three months to ensure an efficient hand-over and transition in the leadership of the company.

Mr Clark is a highly experienced and successful senior resource sector executive, and has more than 35 years experience in technical roles, project management, general management and executive positions at projects in the USA, Africa, Papua New Guinea, and throughout Australia.

He was previously Managing Director of Grange Resources (ASX: GRR), Australia's largest magnetite producer. During his four and a half year tenure with Grange he oversaw its successful merger with Australian Bulk Minerals, plus the completion of pre-feasibility and bankable feasibility studies for Grange's $3 billion Southdown magnetite project. The market capitalisation of the company grew four-fold during his tenure, and posted record profits and cashflow, paying its inaugural dividend in 2011.

Mr Clark was also CEO of South American focused exploration company Azimuth Resources (ASX, TSX: AZH) which was successfully taken over by Troy Resources (ASX, TSX: TRY) in August 2013.

Mr Clark holds a Mining Engineering degree (BSc Hons) from the Royal School of Mines, London, UK and a Graduate Diploma from the Securities Institute of Australia. His prior experience also includes roles with Newmont and Normandy, for a period of eight years, following 18 years at Renison Goldfields. At Newmont he was the Group Executive-Operations responsible for seven gold mines in Australian and New Zealand.

The Company would like to thank Mr Hale for his outstanding contribution to the growth and development of Wolf Minerals in his seven years with Wolf. He was the Company's inaugural Managing Director and oversaw its highly successful IPO and ASX listing in 2007, which saw Wolf become the best performing IPO of the year. He was also responsible for the acquisition of the Hemerdon project and its subsequent growth and development, which culminated in the delivery of a robust Definitive Feasibility Study (DFS) in May 2011 and a major funding package to facilitate the project's development.

He leaves his role with Wolf extremely well placed to achieve its corporate objective of bringing the Hemerdon project on line as the world's next major tungsten mining operation.

Wolf Minerals Chairman, John Hopkins commented:

"I am absolutely delighted that the Company's advanced Hemerdon tungsten project has attracted someone of Russell's calibre to join Wolf as its Managing Director. He has demonstrated abilities to both develop and manage projects as well as to communicate effectively with the market.

"The Board and I take this opportunity to thank outgoing Managing Director, Humphrey Hale, for the superb work he has done to take this project from a concept to one that is now entering the construction phase. He will work with Russell through a transition period to ensure momentum within the project is maintained. We wish him the very best in his future endeavours."

Mr Hale said:

"I would like to welcome Russell to the Company as its new Managing Director. It gives me great confidence to be able to hand-over to someone of his experience and expertise, and his skill sets and experience in managing and operating mining projects will be invaluable to Wolf as the Company executes the development strategy to bring Hemerdon into production. I wish all the Wolf team every success in the future, as the Company enters into an exciting phase of its development."

Mr Clark said:

"I am really looking forward to this opportunity to lead the Wolf team to build the Hemerdon project and bring England's newest metal mine into production. We have an excellent resource, a core management team and solid cornerstone investors. Engineering and mining contracts are in place, the project has its debt funding secured so the building blocks for success are established."

Save as set out below there is no further information required to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules:

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