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WOLF MINERALS LIMITED: MEDIA RELEASE


  5 December 2007

WOLF MAKES STAND-OUT RE-LISTING

Acquires Major World Class Tungsten Deposit, shares gain 91.7% 

Australian specialist minerals exploration and development company Wolf Minerals (ASX: WLF) (Wolf, the Company) has today made a standout return to trading on the Australian Stock Exchange (ASX), opening at A$2.55 - a gain of 91.7% on the day - after completing the acquisition of the Hemerdon Tungsten and Tin Project in the United Kingdom, one of the largest tungsten and tin deposits in the world.

Wolf had been in voluntary suspension from trading since June 12 this year while it completed the acquisition of the Hemerdon Project.

Wolf’s shares closed at $1.33 when the Company went into its voluntary trading halt, and traded as high as $2.70 today on its reintroduction to the ASX.

1.277 million shares were traded, and the stock closed at $2.55, and increase of $1.22 on its price prior to the trading halt.

The key points of the Hemerdon Project are;
  • The Project is located near Plymouth in the South West of England, and it is anticipated that Wolf will mine 3000 tonnes of tungsten per year at the project over an approximate 15-19 year period.
  • Work will commence immediately, with actual mining work scheduled to begin within three years.
  • A previous Feasibility Study conducted in 1981 by North American mining company AMAX estimated a mineable reserve estimate of ~ 40Mt at 0.183% tungsten trioxide and 0.029% tin.
  • Global Hemerdon resource hosts 73Mt at 0.143% tungsten trioxide and 0.026% tin,  based on 25,400 metres of drilling conducted between November 1976 and October 1980.
  • Wolf will pay A$1million, plus an annual rental payment of A$145,000, to acquire 100% of the Hemerdon deposit. Separately, a 2% net smelter royalty (NSR) will be payable.
  • Planning Permission to develop the mine was granted by Government in 1986 and remains valid until 2021.
  • SRK Consulting has been engaged to re-log the core on site and Wolf will have substantial amounts of the existing core re-assayed, prior to confirming a JORC compliant resource within 3 months.
  • The  acquisition moves Wolf closer to its goal of becoming a world class tungsten and tin producer.
- ENDS -


For further information please contact:


Mr Humphrey Hale
Managing Director
Wolf Minerals
Ph: +61 8 6364 3776
E: hhale@wolfminerals.com.au
Website: www.wolfminerals.com.au

Mr Jonathan Downes
Director
Wolf Minerals
Ph: +61 412 124 758

James Moses
Professional Public Relations
Ph: 0430 038 338
E: jmoses@ppr.com.au
 

About Wolf Minerals

Wolf Minerals is a specialist Australian minerals exploration and development company which listed on the ASX on February 15 this year after a highly successful $A3million Initial Public Offer.

The Company’s specialist minerals focus is tungsten and tin.

Wolf began with three tenement holdings, all in New South Wales, and the Company’s strategy is to actively seek to expand the number of projects under its ownership or control and build the Company into a world class tungsten and tin producer.  



This message has been sent to you as a subscriber of the PPR mail service.
If you no longer wish to be a part of the service, please email cginbey@pprwa.com.au with the word "REMOVE" in the Subject line.

 


This email was sent by James Moses, PPR (WA) Pty Ltd, Level 1, 588 Hay Street, Subiaco WA 6008 Western Australia to .com

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Wolf Minerals Limited

DEVELOPMENT STAGE
CODE : WLF.AX
ISIN : AU000000WLF3
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Corporate Presentations of Wolf Minerals Limited
5/27/2010Intersuisse Research Report
In the News and Medias of Wolf Minerals Limited
8/12/2010Wolf Minerals raises A$2m to fast track Hemerdon Ball tungst...
Annual reports of Wolf Minerals Limited
2008 Annual report
Project news of Wolf Minerals Limited
8/12/2010(Hemerdon Mine)raises $2M to fast track completion of Hemerdon Tungsten pro...
3/13/2008(Hemerdon Mine)Resource Upgrade at Hemerdon Ball Tungsten-Tin deposit
1/29/2008(New South Wales)Exploration results
12/5/2007(Hemerdon Mine)Acquires Major World Class Tungsten Deposit
Corporate news of Wolf Minerals Limited
1/24/2008Hemerdon Tungsten and Tin Project Update
11/21/2007UPDATE ON REISNSTATEMENT TO TRADING ON ASX
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AUSTRALIA (WLF.AX)
0.280+0.00%
AUSTRALIA
AU$ 0.280
05/23 15:58 -
0%
Prev close Open
0.280 0.280
Low High
0.280 0.280
Year l/h YTD var.
0.250 -  0.350 -6.67%
52 week l/h 52 week var.
0.200 -  0.350 -%
Volume 1 month var.
21,500 -%
24hGold TrendPower© : -21
Produces
Develops Tin - Tungsten
Explores for Tin - Tungsten
 
 
 
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