TIDMWLFE

RNS Number : 2556B

Wolf Minerals Limited

06 January 2015

6 January 2015

Wolf Minerals Limited

Wolf Minerals Awards Power Supply Contract

DONG Energy to provide power supply to Hemerdon Tungsten-Tin Project

Specialty metals development company, Wolf Minerals Limited (ASX: WLF, AIM: WLFE) ("Wolf" or "the Company") is pleased to announce that it has finalised and awarded the power supply contract for its Drakelands open pit mine ("Drakelands") currently being constructed at the Company's world class Hemerdon tungsten and tin project ("the Project") in Devon, in southwest England.

Following a tender process conducted by The Energy Services Partnership Ltd, DONG Energy has been awarded the contract to supply grid power to the Drakelands mine.

Under the terms of the contract DONG Energy will supply a projected 82GWh to the operation for a three year period. The forecast power prices are in line with estimates contained in the Definitive Feasibility Study ("DFS").

DONG Energy is 59% owned by the Danish Government and its UK businesses include offshore wind power, exploration and the production of oil and gas. It is the third largest gas supplier to the UK's industrial and commercial market with a 12% market share. Already supplying over a terawatt of power, DONG Energy is looking to grow and establish its position in the UK power market.

Commenting on the power contract, Wolf Managing Director, Mr Russell Clark, said:

"As we continue to build the mine and processing plant at Drakelands, it's very pleasing to be able to lock in a power contract at rates similar to those used in the DFS, which will contribute to Wolf being a low cost producer of tungsten."

ENDS

For further details, please contact:

 
Wolf Minerals Limited                       +61 8 6364 3776 
 Russell Clark                               admin@wolfminerals.com.au 
Numis Securities 
 John Prior/James Black/Paul Gillam         +44(0)20 7260 1000 
Newgate Threadneedle 
 Tim Thompson / Adam Lloyd / Ed Treadwell   +44 (0) 20 7653 9850

Promotion and Marketing

The Company's web site has time lapse photography showing both the processing plant site and mine site which can be seen at:

http://www.wolfminerals.com.au/hemerdon-tungsten-and-tin-project/live-stream

This information is provided by RNS

The company news service from the London Stock Exchange

END

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