Grant of Waiver for Further Funding Facility

21 October 2013

Grant of Waiver for Further Funding Facility

Wolf Minerals Limited ("the Company") is pleased to announce that it has been granted a waiver of ASX Listing Rules 10.13.3 and 10.13.5 to the extent necessary to permit the Company's notice of meeting (the "Notice") seeking shareholder approval for the issue of up to 3,278,611 Commitment Fees Shares and 1,192,222 Interest Fee Shares ("2nd Quarter Shares"); 1,490,278 Commitment Fees Shares and 2,980,556 Interest Fee Shares ("3rd Quarter Shares"); and 99,352 Commitment Fees Shares and 4,371,481 Interest Fee Shares ('4th Quarter Shares"), (together, the "Facility Shares") to Resource Capital Fund V L.P. ("RCFV"), to state that the Facility Shares will be issued later than one month after the date of the shareholders' meeting, and not to include an issue price, subject to the following conditions:

(a) the Notice states that the Facility Shares will be issued to RCFV quarterly.

(b) the Company issues the Facility Shares no later than 9 May 2014.

(c) the Notice states that the Facility Shares will be issued at a price which is the lower of:

(i) the VWAP calculated over the 5 ASX trading days immediately prior to the due date of the payment for those Facility Shares; and

(ii) A$0.27 per Share.

(d) the Company's annual report for any period during which the Facility Shares are issued to RCFV discloses details of the number of Facility Shares that were issued to RCFV, including the percentage of the Company's issued capital represented by those shares.

Further particulars regarding the issue of these securities issued in satisfaction of interest and commitment fees payable under the Further Funding Facility are set out in the Notice dated 4 October 2013.

Yours faithfully

Richard Lucas

Company Secretary

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