On a bitterly cold night at Telford FC's Bucks Head ground it was the hosts who took an early lead when Tom Stewart scored with only four minutes of the game gone.
Blues fought back however and Finland Under-21 international Njazi Kuqi levelled matters with a neat shot on the turn on 33 minutes.
With half time approaching Keith Bertschin's young side were now bossing the game and it was no surprise when they took a 2-1 lead three minutes before the break, Asa Hall scoring with a tap-in from six-yards out after good work down the right flank from Nick Wright.
Wolves had the better of the opening period of the second half and drew level through Chris Cornes on the hour mark.
Just six minutes later the home side looked to have stolen the points when Patrick Flynn gave them a 3-2 lead after some sloppy defensive play at a Wolves corner by the the Blues defence.
Blues had different ideas however and Kuqi and Hall both went close to drawing them level before the equaliser did finally arrive just eight minutes from full-time. Defender Marcos Painter rose above everyone in the box to head home a Mat Birley free-kick and give Blues a deserved share-of-the-spoils.
Wolves: Ikeme, Little, Taylor, Flynn, Lowe, Riley, Cornes, Clingan, Stewart, O'Connor, Fitzpatrick. Subs: Askey, Hennessey, Hughes, Collins.
Blues: Vaesen, James Blake, Alsop, Oji, Painter, Howland, Wright (Jamie Price 81), Asa Hall, Kuqi, Barrowman, Birley Subs not used: Meredith, Reynolds, Hamilton, Howell.
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