Wolf Minerals Regulatory News (WLFE)

6 May 2014

Wolf Minerals Limited

Results of Share Purchase Plan

Specialty metals exploration and development company, Wolf Minerals Limited (ASX: WLF, AIM: WLFE) ("Wolf" or "the Company") is pleased to announce the results of the share purchase plan ("SPP") launched on 14 April 2014, which closed on 2 May 2014.

The SPP which is subject to shareholder approval, was designed to provide eligible retail shareholders with the opportunity to purchase shares in the Company, up to a limit of A$2 million, at the same issue price as the Fundraise of approximately A$182.7 million, being A$0.30 (16.3p) per share.

The Company is pleased to advise that subscriptions were received for a total of 3,250,000 new ordinary shares for proceeds of A$975,000 (£529,750) representing a take-up of 48% of the SPP limit.

The proceeds of the Fundraise and the SPP will allow the Company to complete construction of the Hemerdon Project and support it through to positive cashflows. Specifically, the funds will be used to:

· Repay the outstanding balance of the US$75 million Bridge Finance Facility provided by RCF;

· Provide the capital expenditure required by the Hemerdon Project to complete construction and make the project production ready;

· Provide funds to service bonding obligations, over-run facilities, debt service reserve account and producer shortfall guarantees; and

· Provide ongoing working capital.

Commenting on the result, Wolf Managing Director, Russell Clark said:

"We are very pleased with the uptake of the SPP. The Board would like to thank those eligible shareholders that took up the offer under the SPP and to all shareholders for their continuing support."

"Construction at the project site is now well underway, with in excess of 100 personnel making access roads and undertaking earthworks ahead of concrete pouring for foundations, which will occur next month."

As announced on 18 March 2014, under the RCF Subscription Agreement and the Todd Subscription Agreement the subscriptions by RCF and Todd are to be reduced on a pro-rata basis by the amount raised under the SPP.

Subject to shareholder approval and following the results of the SPP, pursuant to the RCF Subscription Agreement, RCF will subscribe for 264,286,785 new ordinary shares at the Issue Price and pursuant to the Todd Subscription Agreement, Todd will subscribe for 221,107,718 new ordinary shares at the Issue Price.

Following the Fundraise and SPP, RCF would be interested in 336,342,839 ordinary shares representing a maximum of 41.68% of the issued share capital of the Company and Todd would be interested in 260,517,718 ordinary shares representing a maximum of 32.28% of the issued share capital of the Company.

Shareholder approval for the issue of shares under the SPP and Fundraise, which will rank pari passu in all respects with the existing ordinary shares, will be sought at the EGM to be held on 13 May 2014 and it is anticipated that shares will be issued on 20 May 2014.

Capitalised terms used in this announcement have the same meanings given to them in the announcement released by the Company on 18 March 2014.

Promotion and Marketing

The Company has a corporate video, which provides an update on the Hemerdon Project and it is available to view on the home page of the Wolf company website, at www.wolfminerals.com.au.

The latest Investor Presentation is also available from the Company's website.

ENDS

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