Executive Summary

Wolf Minerals has identified the Hemerdon project as a major new source of supply of tungsten for global manufacturing and industry. Having been mined and explored during the 20th century Wolf has built up a JORC defined model, leading to the successful completion of bankable feasibility study that identifies Hemerdon as a highly economic potential producer of low cost tungsten located near a range of viable infrastructure routes. Wolf has completed all the necessary delineation work for mining finance at Hemerdon and is waiting for final approvals for a 650m new mine road before contracting and development ramp up can be scheduled during 2012. The redevelopment of the mine is expected to be completed by 2013, pending approvals, and become one of the world

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