INVESTOR PRESENTATION JUNE 2013

Cautionary Statement
The information contained in this document has been prepared based upon information supplied by Wolf Minerals Limited (the Company). This Document does not constitute an offer or invitation to any person to subscribe for or apply for any securities in the Company. While the information contained in this Document has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give any representations or warranties (express or implied) as to the accuracy, reliability or completeness of the information in this Document, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as Information) and liability therefore is expressly disclaimed. Accordingly, to the full extent permitted by law, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained in this Document or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Document. Neither the issue of this Document nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved to terminate any discussions or negotiations with any person. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this Document, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Document or to correct any inaccuracies in, or omissions from, this Document which may become apparent. This Document should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. Each party to whom this Document is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates or projections or opinions contained in this Document necessarily involve significant elements of subjective judgment, analysis and assumptions and each recipient should satisfy itself in relation to such matters. This Document may include certain statements that may be deemed forward-looking statements. All statements in this discussion, other than statements of historical facts, that address future activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The Company, its shareholders, directors, officers, agents, employees or advisers, do not represent, warrant or guarantee, expressly or impliedly, that the information in this Document is complete or accurate. To the maximum extent permitted by law, the Company disclaims any responsibility to inform any recipient of this Document of any matter that subsequently comes to its notice which may affect any of the information contained in this Document. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward-looking statements.

WOLF Minerals UK Tungsten

ASX:WLF |AIM:WLFE

Wolf Investment Highlights

WORLD CLASS, CONSTRUCTION READY TUNGSTEN AND TIN MINE IN THE UK
Hemerdon Project - first production expected in 2015

Planning permissions in place with finance secured to commence construction

DFS indicates solid EBITDA margins and low operating production costs

Positive structural market dynamics for tungsten pricing and demand

Low cost model provides significant leverage to tungsten price upside

Located in a stable and supportive political environment

WOLF Minerals UK Tungsten

ASX:WLF |AIM:WLFE

Wolf - Corporate Snapshot

WOLF MINERALS Stock Codes Share Price Issued shares Unlisted Options Market Cap Key Management ASX:WLF ASX: A$0.30 198.0 Million 8.0 Million ~A$59M ~40M MD & CEO Humphrey Hale Chairman John Hopkins CFO - Richard Lucas AIM:WLFE AIM: 0.20
0.40 0.35 0.30 0.25 0.20 0.15 ASX:WLF - Share Pricing -Volume 1,500 1,000 500 0 ASX:WLF - Share Pricing

SHARE PRICE (ASX:WLF)

2,000 Thousands

SUBSTANTIAL SHAREHOLDERS Name Resource Capital Fund V Holding 36.4% 19.9% 9.3% Description Mining focused private equity firm.

TTI (NZ) Limited

Traxys Projects LP

Wholly owned subsidiary of Todd Corporation Limited, a major private NZ based company with a diversified portfolio of business interests.
Global leader in financing, marketing, distribution and financial services for the mining, metals and minerals industries.
WOLF Minerals UK Tungsten ASX:WLF |AIM:WLFE 4

Tungsten Positive Structural Market Dynamics

OVERVIEW Critical for industrial development due to its unique properties (melting point / hardness) and limited substitutability Considered a strategic metal in US, EU and China Used in manufacture of hard metals (cemented carbines), steels/alloys and mill products Ammonium Para Tungstate (APT) is the most traded of the tungsten products current price US$365** Product prices quoted in metric tonne units or mtu (1 mtu = 10kg) PRIMARY TUNGSTEN DEMAND China a net importer in 2012 China holds 60% of known tungsten reserves (USGS) and accounts for +50%* of demand and +80%* of supply New capacity required to meet Western demand Forecast demand growth of 6-7% to 2016* Hemerdon in full production will produce less than 3% of total forecast demand in 2016
*Source: Roskill research **EU APT price US$365 (Metal Pages)

100000
90000 80000 70000 60000 50000 40000 30000 20000 10000 0
1990

FORECAST TUNGSTEN DEMAND 1989 TO 2016*

2006

1989

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2007

2008

2009

2010

2011

2012

2013

2014

2015

*Source: ITIA: Roskill forecast

WOLF Minerals UK Tungsten

ASX:WLF |AIM:WLFE

2016

Hemerdon Project
DFS confirms a robust low cost project Large, high quality reserve base 26.7mt @ 0.19%W03 (tungsten) and 0.03%Sn (tin) of proven and probable reserves Low cash cost of US$105/mtu* A$212M in funding to commence construction Permitted to 2021 with potential to extend Stable UK location with existing infrastructure

EPC contract in line with DFS

Production expected in 2015
*After tin credits

WOLF Minerals UK Tungsten

ASX:WLF |AIM:WLFE

DFS Headline Outcomes

Existing china clay operations

DFS HEADLINE OUTCOMES

Units Tungsten Production Tin Production Average Cash Cost* mtu/pa mtu/pa US$/mtu m UNITS APT Price** Operating Surplus
Hemerdon approved pit rim limit

Production Assumption 345,000 462 105 104 BASE 360 338 UPPER 415 424

Hemerdon approved planning permission limits

Capex

US$/mtu m

Project NPV
EBITDA Payback

m
M/pa Years

74
29 3.25

114
37 2.75
7

*After tin credits **EU APT Price 24/5/13 US$370 (Metal Pages)

WOLF Minerals UK Tungsten

ASX:WLF |AIM:WLFE

Hemerdon - Construction Ready

COMPLETED
Planning Funding

CURRENT FOCUS
2013 Construction 2014 Commissioning

ONGOING
2015 Production
2016 Increase Mine Life

DFS completed A$212 Million Funding package to commence construction completed

NEXT STEPS
Appoint Senior staff and continue land purchases Commence detailed design and procurement of the plant and infrastructure Secure remaining environmental approvals

Planning permission secured

Water permits approved

Binding Offtake agreements completed

EPC Contractor appointed

WOLF Minerals UK Tungsten ASX:WLF |AIM:WLFE 8

A$212 Million Funding Package

FUNDING FROM LEADING INSTITUTIONS TO BEGIN CONSTRUCTION
SHAREHOLDER EQUITY $20.3 MILLION COMPLETED JANUARY 2013 RESOURCE CAPITAL FUND V US$82 MILLION** Executed ING, UNICREDIT, CAT FINANCIAL 75 MILLION Executed 75m of senior debt including 5m project bond facility Drawdown triggers payback of Bridge Finance Facility US$7m consideration for purchase of 2% royalty on future gross revenues

12 month secured US$75m Bridge Finance Facility Supported by strategic investors - Resource Capital Fund V, Traxys and Todd Corporation

Tenor 7.5 years with 5.5 year repayment term

*Exchange rates GBP 1/AUD 1.505, AUD 1/USD 1.04

WOLF Minerals UK Tungsten

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EPC Contract in line with DFS

GR ENGINEERING SERVICES (GRES) APPOINTED AS EPC CONTRACTOR
The 75 million (A$110.6 million) contract is below the DFS estimate of ~77 million

Completion includes commissioning the plant & performing a throughput test

RECENTLY COMPLETED PROJECTS CBH Resources Limited Broken Hill Operations Rasp Project $76M Catalpa Resources Ltd Edna May Gold Project $52M Western Areas NL Cosmic Boy Nickel Project $35M
ASX:WLF |AIM:WLFE

750,000 tpa Lead Zinc Processing Plant (Design and Construct) 2.8 Mtpa Gold Process Plant & Infrastructure (Design and Construct) 250,000 tpa Nickel Sulphide Process Plant (Design and Construct)
10

Fixed delivery period of 105 weeks from formal commencement date

Globally experienced firm with a solid history of executing projects on time and in budget

WOLF Minerals UK Tungsten

Offtake Agreements completed

TOP TIER OFFTAKE PARTNERS
Confirms saleability of tungsten concentrate

Provides partial guarantee for Senior debt of 75m Global Tungsten & Powders (Plansee)

Total contracted quantity equal to 80% of scheduled production on a 5 year term

Market pricing with no cap or floor

Suitable for German government guarantee

Wolfram Bergbau und Hutten (Sandvik)

ASX:WLF |AIM:WLFE 11

WOLF Minerals UK Tungsten

Optimise and Increase Mine Life

POTENTIAL DEVELOPMENT OPTIONS WITH FRESH PLANNING PERMISSIONS
Current DFS is limited only by existing planning permission

Lateral and vertical pit expansion

Potential for underground expansion

Opportunity to steepen the ultimate pit walls resulting in an increase in mineable reserve.

Mineralisation is open at depth to 400m and along strike providing the opportunity to expand pit design further and extend mine life by many years.
WOLF Minerals UK Tungsten ASX:WLF |AIM:WLFE 12

Next Steps
Appoint Senior staff and continue land purchases

Commence detailed design and procurement of plant and infrastructure

Secure remaining environmental approvals

Provide site access to EPC contractor

WOLF Minerals UK Tungsten

ASX:WLF |AIM:WLFE

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Wolf Summary
High quality, open pit 3Mtpa construction ready tungsten and tin project in the UK

EPC contract secured in line with DFS estimates

Financing from top tier investors to commence construction and offtake agreements

Low cost model provides significant leverage to tungsten price upside

2015 production schedule in line with projected forecast increase in Western tungsten demand

Fourth largest tungsten deposit globally with significant future development options

WOLF Minerals UK Tungsten

ASX:WLF |AIM:WLFE

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APPENDICES
WOLF Minerals UK Tungsten ASX:WLF |AIM:WLFE

Competent Persons Statement

The information in this report relates to Exploration Results, Mineral Resources or Ore reserves is based on information compiled by Mr. H. Hale BSc. (Hons), MAIG. Mr. Hale has sufficient experience that is relevant to the style of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore reserves. Mr. Hale consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

The information in the report to which this statement is attached that relates to Exploration Results and Mineral Resources is based on information compiled by Phil Jankowski, who is a Member of the Australasian Institute of Mining and Metallurgy. Phil Jankowski is a full-time employee of SRK Consulting (Australasia) Pty Ltd (SRK), and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Phil Jankowski consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The Ore Reserve estimate is based on work completed by Mr Quinton de Klerk, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr de Klerk is a full time employee of Cube Consulting and has sufficient experience which is relevant to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr de Klerk consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

WOLF Minerals UK Tungsten

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Hemerdon Mineral and Ore Reserves

ORE RESERVES
Mt Granite Soft Granite Total 18.9 4.6 23.5

PROVEN
WO3 % 0.18 0.19 0.19 Sn % 0.03 0.03 0.03 Mt 2.4 0.9 3.2

PROBABLE
WO3 % 0.18 0.21 0.19 Sn % 0.03 0.03 0.03 Mt 21.3 5.5 26.7

TOTAL
WO3 % 0.18 0.21 0.19 Sn % 0.03 0.03 0.03

MINERAL RESOURCES
Measured Indicated Measured and Indicated Inferred Measured, Indicated & Inferred

TONNAGE (MT)
76.8 40.3 117.1 284.2 401.4

WO3 GRADE (%)

0.15 0.13 0.14 0.13 0.13

SN GRADE (%)
0.02 0.02 0.02 0.02 0.02
Tables reported at a cutoff grade of 0.063% WO3

WOLF Minerals UK Tungsten

ASX:WLF |AIM:WLFE

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DFS Headline Outcomes

RESULT APT Price** UNITS US$/mtu BASE CASE 360 UPPER CASE 415

Operating Period
Annual Throughput Tungsten Production Tin Production Average Cash Cost* CAPEX Operating Surplus EBITDA Project NPV (post tax ungeared) IRR Payback

Yrs
Mtpa mtu/pa t/pa US$/mtu M M M M % Years
WOLF Minerals UK Tungsten

9.25
3 345,000 462 105 104 338 29 74M 21% 3.25
ASX:WLF |AIM:WLFE

9.25
3 345,000 462 105 104 424 37 114M 26% 2.75
*After tin credits **EU APT Price 7/3/13 US$365 (Metal Pages)

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Capital and Operating Costs

CAPITAL COST ESTIMATES
ITEM Process plant Infrastructure Land purchases Owners costs Contingency Total 000s 65,366 8,491 10,548 10,403 9,314 104,122

OPERATING COST ESTIMATES

ITEM Mining Processing General Administration (Inc. marketing & royalties) C1 Cash Cost for operating period Total Cash cost (After tin credits) US$ /mtu 66.99 53.10 15.52 122 105.18

WOLF Minerals UK Tungsten

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Board & Management

Humphrey Hale, Executive Managing Director 20 years in mining industry Previously with AngloGold Ashanti Geologist with Exploration and Mining Consultants John Hopkins (Non-Executive Chairman) Chairman of Midas Resources Ltd and Universal Coal PLC, NED Thundelarra Exploration Ltd. Former Chairman of gold producer Adamus Resources Ltd Jonathan Downes (Non-Executive Director) Founding director of Hibernia Gold (now Moly Mines Limited) and Siberia Mining Corporation (now owned by Monarch Resources Limited) Current N.E.D of Corazon Metals Limited, Sabre Resources and Managing Director of Ironbark Zinc Limited Richard Lucas, CFO and Company Secretary Ex CFO of Geotech Group and experience at Lihir Gold mine in PNG Previously Director at PWC. Don Newport (Non-Executive Director) Former head of Standard Bank's Global Mining Finance Business Led Barclays Capital Mining Sector Team. Jim Williams (Non-Executive Director) Chartered Engineer and Fellow of AusIMM Founding Head of Mining for Fortescue Metals Group Ltd Previously Chief Mining Engineer at Bechtel Australasia, Principal Mining Consultant for Minproc Engineers and CEO for Laverton Gold.

Adrian Byass (Non-Executive Director)

ASX Competent Person Founder of Siberia Mining Corporation and Hibernia Gold Executive Director of Ironbark Zinc Limited, Plymouth Minerals and Corazan Mining Ltd.
WOLF Minerals UK Tungsten

Chris Corbett (Non-Executive Director)

Resource Capital Fund (RCF) representative Mine development, production and construction experience with Byrnecut Mining and corporate and business development roles with Wesfarmers Limited.
ASX:WLF |AIM:WLFE 20

DFS Data Sources

STUDY AREA
Mineral resources and Geology Ore Reserves and Mining Plan Mining Cost Estimates Hydrogeology Client Metallurgical Representative Metallurgical Testwork Process Plant Design Plant Capital Plant Operating Costs Treatment and Refining Infrastructure and Services Environmental Tailings and Storage Facilities Planning and permitting Archaeological Geological Consultant SRK Consulting Perth Cube Consulting Perth Cutback Consulting Aquaterra Coffey Mining Ammtec managed by GR Engineering Services GR Engineering Services GR Engineering Services GR Engineering Services Traxys GR Engineering Services MRH Associates Coffey Mining Mineral Planning Associates UK Groundwork Archaeology Ltd Richard Scrivener
WOLF Minerals UK Tungsten ASX:WLF |AIM:WLFE 21

CONSULTANTS

FOR FURTHER INFORMATION: Humphrey Hale - Managing Director P: +61 8 6364 3776 E: admin@wolfminerals.com.au W: www.wolfminerals.com.au

WOLF Minerals UK Tungsten

ASX:WLF |AIM:WLFE

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