Issue of Shares and Options

4 February 2013

Issue of Shares and Options

Notice under Section 708A

Further to the announcement of 21 December 2012 regarding a placing of A$20.3 million to Resources Capital Fund V LP, TTI (NZ) Limited, Traxys Projects LP and Kevin Barry Building Services Pty Ltd, Wolf Minerals Limited ("the Company") announces it has issued 75,378,519 fully paid ordinary shares of no par value ("the Shares") on 1 February 2013.

Also, on 30 January 2013 the Company issued 172,776 options exercisable at A$0.333 each before 30 January 2016 and 73,807 options exercisable at A$0.3898 each before 30 January 2016 (the "Options"), to Resources Capital Fund V LP. The Options are being issued to satisfy the final utilisation fees payable for the period ended 30 January 2013 in accordance with development capital facility terms approved at the Company's General Meeting on 5 October 2011.

Application has been made for the 75,378,519 Shares to be admitted to trading on the AIM Market of the London Stock Exchange ("Admission"). Admission is expected to become effective on 8 February 2013. The Shares will rank pari passu with the Company's existing Shares.

Following admission of the Shares, the number of ordinary shares in issue and admitted to trading on AIM and the ASX will be 190,072,071.

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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