Goals from Jake Cain and Bobby Duncan were enough to keep the young Reds' U18s Premier League North title hopes alive.
Cain opened the scoring with a superb curling effort in the 53rd minute before Duncan lobbed in his 29th goal of the season. Taylor Perry then scored what proved to be a late consolation for Wolves.
Barry Lewtas' side remain two points adrift of leaders Derby County in the league table, although the Rams do possess a game in hand.
After a number of early half-chances for either side, the first clear-cut opportunity fell to the hosts 24 minutes in after they seized the initiative.