The victory for Kenny Jackett's side sees them leapfrog Leyton Orient in the table after the Londoners lost their first home game of the campaign in a 1-0 reverse to Preston North End.
Wolves had to be patient to claim all three points at struggling County, with 20-year-old Ethan Ebanks-Landell grabbing the winner 14 minutes from time with his first goal for the club.
Preston, meanwhile, had a 33rd-minute strike from Joe Garner to thank for their victory at the Matchroom Stadium - a result that extends their unbeaten League One run to five games.
In-form Brentford moved up to fourth place courtesy of their 5-0 thrashing of Crewe Alexandra at Griffin Park.
This marked Uwe Rosler's team's sixth win in a row in all competitions, with a brace from former Crewe forward Clayton Donaldson following up efforts from Marcelo Trotta, Adam Forshaw and George Saville.
Rotherham United ended their sequence of five league fixtures without a win as they ran out 3-0 victors at lowly Stevenage to move up to seventh, while Swindon Town take up the final play-off position after their 2-1 success at mid-table Colchester, who are now without a win in three.
At the other end of the table, Nigel Clough's Sheffield United remain in 23rd place after Gillingham won 2-1 at Bramall Lane. Strikes from Danny Kedwell and Cody McDonald for the visitors sandwiched an equaliser from Chris Porter.
Next up for Sheffield United is a trip to Bristol City, who extended their unbeaten run to four matches with a 1-1 draw at Tranmere Rovers.
Elsewhere on Saturday, Port Vale moved up to ninth with a comfortable 3-1 home win over Shrewsbury, while Carlisle United were held to a 1-1 draw at home to Crawley Town.
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