Wolf Minerals Limited provided the update on the company's financing arrangements to support its short term working capital requirements during the ongoing operational ramp up at its Drakelands open pit mine at the Company's Hemerdon tungsten and tin project in Devon, southwest England, whilst a strategic review of its funding arrangements is completed. Following the further improvements in the operating performance at Drakelands over the June 2018 quarter, Wolf has worked with its key stakeholders to develop financing arrangements that can support the Company's short-term working capital requirements whilst a detailed strategic review of its funding arrangements is completed prior to 28 October 2018. As a result, Wolf has executed a commitment letter to enter into binding agreements with: its existing senior lenders (Senior Lenders) for: a deferral of principal, interest and other amounts totaling approximately £2.1 million due at the end of July 2018, up to 28 October 2018 (Senior Debt Deferral); and access to up to £1.7 million of the £9.5 million cash balance currently restricted for use on the noise and vibration management plan (Rectification Account); and Resource Capital Fund VI L.P. to provide an additional £4 million, secured priority loan (Priority Bridge Loan) under an amended bridge loan facility (Bridge Facility), with the potential for the Priority Bridge Loan to be increased to £5 million at the discretion of RCF VI and subject to the consent of the Senior Lenders. An initial £2 million to be available immediately under the Existing Bridge Facility which will be superseded by the Priority Bridge Loan. The Senior Debt Deferral, withdrawals from the Rectification Account and the Priority Bridge Loan when established (together, the New Money) are to be repaid pari passu with existing Senior Debt liabilities from operational cash flows or in priority to existing Senior Debt liabilities in limited circumstances. Implementation of the above requires changes to the existing Bridge Facility and documents relating to the Company's debt facilities with the Senior Lenders (Senior Debt). The Company currently anticipates that the relevant documentation will be finalised and entered into during August 2018.