Issue of Shares and Options

11 April 2012

Wolf Minerals Limited

Issue of Shares and Options

Notice under Section 708A

On 10 April 2012, Wolf Minerals Limited (the "Company") issued 359,876 fully paid ordinary shares ("Shares"), 478,012 options exercisable immediately at A$0.333 (21.6p) each before 1 April 2015 and 100,418 options exercisable immediately at A$0.3898 (25.2p) each before 1 April 2015 ("Options"), to Resources Capital Fund V LP. The Shares and Options are being issued to satisfy interest, commitment and utilisation fees payable for the quarter ended 31 March 2012 in accordance with development capital facility terms approved at the Company's General Meeting on 5 October 2011.

Application has been made for the 359,876 Shares to be admitted to trading on the AIM Market of the London Stock Exchange ("Admission"). Admission is expected to become effective on 18 April 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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