Issue of Shares

12 January 2012

The Manager

Company Announcements Office

Australian Securities Exchange Ltd

Notice under Section 708A

On 12 January 2012, Wolf Minerals Limited (Company) issued 82,801 fully paid ordinary shares (Shares) to Resources Capital Fund V LP. The Shares are being issued to satisfy commitment fees payable for the period ended 31 December 2011 in accordance with development capital facility terms approved at the company's General Meeting on 5 October 2011.

Application has been made for the 82,801 Shares to be admitted to trading on the London Stock Exchange's AIM market for listed securities ("Admission"). Admission is expected to become effective on 17 January 2012. The Shares will rank pari passu with the Company's existing Shares.

The Shares are part of a class of securities quoted on the Australian Securities Exchange. The Corporations Act 2001 (the Act) restricts the on-sale of securities issued without disclosure, unless the sale is exempt under Section 708 or 708A of the Act. By giving this notice, sale of the Shares will fall within the exemption in Section 708A(5) of the Act.

The Shares were issued without disclosure to investors under Part 6D.2 of the Act, in reliance on Section 708A(5).

The Company gives this notice pursuant to Section 708A(5)(e) of the Act.

The Company, as at the date of this notice, has complied with:

a) the provisions of Chapter 2M of the Act as they apply to the Company; and

b) Section 674 of the Act.

As at the date of this notice, there is no excluded information for the purposes of Section 708A(7) or 708A(8) of the Act.

Yours faithfully

Richard Lucas

Company Secretary

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