The Board of Wolf Minerals Limited has appointed the Company's Chief Financial Officer, Richard Lucas, as interim Managing Director as a consequence of Managing Director, Russell Clark, having elected to resign. As a result, in his role as interim Managing Director Mr. Lucas will substantially increase his commitment and presence in the UK. Mr. Clark will stay on until the end of April 2017 to assist with the transition and handover.

Mr. Lucas brings over 18 years of financial experience across the mining, construction, property development and professional services sectors to the role. Prior to joining Wolf, Mr. Lucas reached a senior level at PwC, was seconded to Lihir Gold as Commercial Manager to manage the accounting and finance function and was Chief Financial Officer at Geotech Group. To assist Mr. Lucas in the final production ramp up as well as further develop the operating platform with the aim of achieving reliable steady-state production, the Board has agreed to appoint Mr. Calum Semple as a contract Chief Operating Officer.

Mr. Semple will be based at site and will formally start on 1 May 2017. However prior to this he will be working with Mr. Clark and the site team to ensure a smooth handover.