Issue of Equity and Change of Directors' Interests

22 December 2016

Wolf Minerals Limited

 ("Wolf" or the "Company")

Issue of Equity and Change of Directors' Interests

Issue of Shares

Wolf Minerals Limited announces that on 22 December 2016 a total of 1,190,290 fully paid ordinary shares of no par value ("the Shares") were issued.

A total of 352,645 Shares were issued to certain directors (or persons closely associated with them) in lieu of part fees for the quarter ended 30 September 2016 under the Company's Directors' Share Plan ("the Plan") as approved by shareholders on 21 November 2014, 16 November 2015 and 29 November 2016. Under the Plan, non-executive directors receive a portion of their fees in shares, allowing the Company to preserve its cash reserves. These new shares were issued at a price of AUD $0.1191 (equivalent to approximately 6 pence) per Share.

50,378 Shares have been issued to each of Resource Capital Funds Management Pty Ltd and TTI (NZ) Limited under the Plan in respect of part director fees due to their respective Board representatives, Mr Chris Corbett and Mr Michael Wolley.

In addition the Company has issued 837,645 Shares to a former employee following the vesting of performance rights issued to him under the Company's Performance Rights Plan.

Application has been made for the 1,190,290 Shares to be admitted to AIM and on the Australian Securities Exchange ("ASX") ("Admission"). Admission to trading on AIM of these Shares is expected to become effective on 28 December 2016. The Shares will rank pari passu with the Company's existing Shares.

Following Admission, the number of ordinary shares on issue and admitted to trading on AIM and the ASX will be 1,084,616,037.

Performance Rights

Following approval by shareholders at its recent Annual General Meeting on 29 November 2016 Meeting, the Company has issued 3,447,368 performance rights under its Performance Rights Plan to its executives and senior managers. 1,469,388 of these rights were issued to Russell Clark, the Company's Managing Director. Subject to the attainment of the vesting conditions, one performance right is converted into one fully paid ordinary share in the Company for nil cash consideration. Details of the vesting conditions are contained in the Notice of Annual General Meeting released to the market on 24 October 2016.

ENDS

About Wolf Minerals

Wolf Minerals is a dual listed ("ASX: WLF", "AIM: WLFE") specialty metals company. With global demand for tungsten rising and future global production expected to be constrained, Wolf Minerals has recently completed the development of a large tungsten resource at its Drakelands Mine, located at Hemerdon, in southwest England.