Issue of Equity and Change of Directors' Interests

12 December 2017

Wolf Minerals Limited

 ("Wolf" or the "Company")

Issue of Equity and Change of Directors' Interests

Issue of Shares

Wolf Minerals Limited announces that on 12 December 2017 a total of 483,315 fully paid ordinary shares of no par value ("the Shares") were issued.

A total of 483,315 Shares were issued to certain directors (or persons closely associated with them) in lieu of part fees for the quarter ended 30 September 2017 under the Company's Directors' Share Plan ("the Plan") as approved by shareholders on 28 November 2017. 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 $0.0869 (equivalent to approximately 5 pence) per Share.

69,045 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.

Application has been made for the 483,315 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 19 December 2017. 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 1,088,129,263.

Performance Rights

Following approval by shareholders at its recent Annual General Meeting on 28 November 2017, the Company has issued 3,104,637 performance rights under its Performance Rights Plan to the interim Managing Director, Mr Richard Lucas. 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 20 October 2017.

 ENDS

Wolf Minerals Limited

Richard Lucas

+61 8 6364 3776

Numis Securities

John Prior/James Black/Paul Gillam

+44(0)20 7260 1000

Newgate

Adam Lloyd / Ed Treadwell

+44 (0) 20 7653 9850

About Wolf Minerals

Wolf Minerals is a dual listed (ASX: WLF, AIM: WLFE) specialty metals producer. In 2015, Wolf Minerals completed the development of a large tungsten resource at its Drakelands Mine, located at Hemerdon, in southwest England.