Wolf Minerals Regulatory News (WLFE)

Wolf receives revised credit approval for £75mof project finance for Hemerdon Tungsten Project

Specialty metal exploration and development company Wolf Minerals Limited (ASX: WLF) (AIM: WLFE) ("Wolf" or the "Company") is pleased to announce that it has received an updated and increased credit approval from UniCredit Bank AG (UniCredit Corporate & Investment Banking), ING Bank N.V. and Caterpillar Financial SARL for £75 million (A$115 million) in senior debt finance facilities to fund the commercial development of its Hemerdon Tungsten and Tin project in Devon, in Southwest England.

Wolf mandated the syndicate of lenders to seek credit approval for an increased facility in August of this year, as announced on 3 September 2012. The continuing support of three globally recognised leaders in mining project finance is a significant milestone for Wolf and a strong endorsement of the Company's confidence in the technical and financial strength of the Hemerdon project.

The Company is delighted to have received the revised credit approval for the senior debt component of Hemerdon's project funding. Provision of the £75 million (A$115 million) senior debt facilities is now subject to completion of the project finance documentation and conditions precedent customary for a financing of this nature.

The financing structure foresees that a portion of the senior loan facilities will be supported by a guarantee provided by the German government's Untied Loan Guarantee Scheme (Ungebundener Finanzkredit "UFK") and a loan guarantee under similar terms by the offtakers, Wolfram Bergbau und Hütten AG and Global Tungsten & Powders Corp. Together, these guarantees will cover 50% of the senior loan facility and are subject to final approval of the guarantors, due diligence and documentation.

The funding will support the planned construction of the project, based on the Definitive Feasibility Study completed in May 2011. The study confirmed the robust economic viability of the project and estimated a post-tax, ungeared net present value of £74 million (A$114 million).

Commenting on the receipt of the revised credit approval Wolf Managing Director Humphrey Hale said:

"This revised and increased senior debt package demonstrates the strength of the projected future cash flows generated by this world class, low cost tungsten and tin project and we look forward to finalising the funding package to bring this project into production."

Details of the UFK scheme including terms & conditions are available on the web at www.agaportal.de/en/ufk/index.html.

ENDS

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About Wolf Minerals

Wolf Mineral is an ASX listed and AIM listed specialty metals company focused on developing the world class Hemerdon Tungsten and Tin Project, in Devon, in the south-west of the UK. The Company holds an option over 100% of the Hemerdon project, which the Directors consider to be one of the largest undeveloped tungsten and tin resources in the western world. It is ranked as the fourth largest tungsten deposit in the world in terms of contained tungsten metal, by The British Geological Survey. The Company aims to develop the project into a large scale, open pit mining operation, which will position it as a world class tungsten and tin producer. Wolf recently released a positive Definitive Feasibility Study for the Hemerdon project, and it has updated planning permission for mining until 2021.