panic buying

Wolf Minerals Limited (Wolf) holds right to three exploration licenses over specialty metal projects in New South Wales. Wolf owns 100% of two licenses (Kiawarra and Burrandana) and 100% of tin-tungsten mineralisation at Yanco Glen.

All the projects have recorded historical production and are considered to be mature, advanced exploration projects following substantial previous modern exploration by companies such as CRA Exploration Pty Ltd (CRAE), Graynic Metals Limited and The Shell Company of Australia Limited. This exploration has identified areas which require further testing and hold the potential to discover new mineralisation or increase the size of known mineralisation systems.

Each of the projects is considered to be prospective for economic specialty metal (Sn and W) mineralisation. The Company is seeking to further explore each of the projects and specifically to expand and evaluate identified mineralisation into production.

www.wolfminerals.com.au

Sydney - Thursday - Feb 15: (RWE Australian Business News) -
Wolf Minerals Ltd (ASX code: WLF) made an explosive sharemarket debut
today, when the 20c shares opened at 65.5c, touched 85c and settled at
79c.
In the first 30 minutes 726,340 shares changed hands.
The company earlier announced it had closed its $3 million float
three weeks early due to "overwhelming interest and support" from
shareholders of Ironbark Gold Ltd (ASX code: IBG) and Graynic Metals Ltd
(ASX code: GYN), and the public.
Wolf plans to commence exploration and evaluation of its
tungsten and tin projects immediately.
Ironbark divested its Burrandana and Kiawarra projects to Wolf
for a consideration of 3 million Wolf shares.
Graynic has received 2 million shares in Wolf for 100 per cent
of the tin and tungsten rights at Yanco Glen, 40km north of Broken Hill.
The directors and management of Wolf have strong technical
backgrounds and a proven track record for adding value.
These skills will be used to implement targeted exploration
programs to grow the resources of the company's advanced projects.
Drilling is scheduled to start at Yanco Glen in March.
The exploration licence application at the Kiawarra tin project
has been granted and the exploration licence application at the
Burrandana tungsten project was also granted prior to listing.
Both of these tenements are owned 100 per cent by Wolf.

Wolf Minerals pounces onto ASX at 320 % premium
15-February-07 by AAP

The share price of Subiaco-based tin and tungsten exploration company Wolf Minerals Ltd more than quadrupled today after the company began trading on the local bourse.

The shares opened at 65.5 cents, up from the 20 cent initial public offer price, before ending up 320 per cent at 84 cents.

Wolf managing director Humphrey Hale said he was pleased with the performance.

"We did expect it to come on well, but we didn't expect it to do as well as it did," he said.

The company had raised $3 million, by selling 15 million shares, and will use the proceeds to make an immediate start on exploration and evaluation of its tungsten and tin projects in New South Wales.

Asked if the company could have offered more shares, Mr Hale said it had sold the right amount.

"The share price has gone up and benefited all of the shareholders," he said.

Mr Hale noted that Wolf's assets came from explorers Graynic Metals Ltd and Ironbark Gold Ltd, whose shareholders also bought into the offer.

"The reason for that is they were not creating value and were better served in another company," Mr Hale said.

"I, myself, am a geologist. I am able to drill and expand these to their capability."

The company holds rights to three exploration licences over speciality metal projects in New South Wales.

It owns two licences for Kiawarra, 35km north east of Yass near Canberra, and at Burrandana in the south-east part of the Riverina and all of tin-tungsten mineralisation at Yanco Glen, near Broken Hill.

Mr Hale said shareholders from Graynic Metals and Ironbark Gold had first option on the shares offering under the initial sale.

WA Business News.