Mick McCarthy's side, who have ground their way to a total of 35 points, look likely to survive despite scoring only 11 league goals at home this season.
Perhaps reassured by his shot-shy opponents, Blackburn boss Sam Allardyce unveiled a three-man defence of Nelson, Phil Jones and Givet, but it looked a dubious decision early on as David Edwards' pass to Kevin Doyle almost sprung their offside trap.
But Blackburn, having seen a penalty appeal turned down following Ward's challenge on Michel Salgado, soon grew into the game.
After debutant Yildiray Basturk's cross had proved too heavy for Martin Olsson, Kalinic twisted to direct a header against the post with keeper Marcus Hahnemann rooted to the spot.
Finishing let us down - Allardyce
Phil Jones then cut out a dangerous cross from Doyle as Edwards lurked on his shoulder, before his defensive colleague provided a scoring touch at the other end.
With Hahnemann struggling with the sun in his eyes and failing to get anywhere near Morten Gamst Pedersen's deep corner, Nelsen arrived at the back post to give the visitors the lead.
Wolves' attempts to force their way back into the game were frequently halted by a disciplined defensive line and Craddock's volleyed attempts either side of the break were rare moments of excitement for the home crowd.
The pressure increased as Jones was forced to hurriedly hack clear as the ball threatened to dribble in off team-mate Givet.
McCarthy cautious after 'hard-earned' point
McCarthy brought on Nenad Milijas and the move almost paid immediate dividends as the Serbian midfielder took up an invitation to shoot, but could only scuff an effort wide.
Andrews, on for Kalinic, smashed over an indirect free-kick after a mix-up between Craddock and Hahnemann before Pedersen warmed the American goalkeeper's palms with a fierce strike.
McCarthy's introduction of Ebanks-Blake proved well-judged as the striker's precise nod from Stephen Ward's inviting centre restored parity.
Looking full of confidence from his second goal of a difficult season, the striker lashed wide from 20 yards shortly after, but his side had a late scare to survive.
A snappy one-two with Franco di Santo sliced open the Wolves defence but Andrews skewed his shot off the near post to the relief of the home fans who can now almost certainly look forward to another season in the top flight.
Wolves manager Mick McCarthy: "We aren't safe yet. Until then I will continue to be the straight-talking Yorkshireman I get portrayed as. If we stay up, I will be the complete opposite.
"Liverpool have been half-way around the world, or so it will seem after the travelling they have done this week, and if they lose at Burnley it will still not be settled.
"It was nice for Sylvan to score. He has been upset through not scoring goals and not playing as much as he would have wanted.
"But let's not forget the other points everyone has helped to graft out during the season when enjoying a moment of euphoria for Sylvan."
Blackburn manager Sam Allardyce: "I thought it was a game we should have won. We had enough chances but failed to finish them off.
"In this league every position is worth £750,000 and that is a good down payment on a decent player.
"We want to finish as high as possible but we slipped up in allowing Ebanks-Blake a free header for the equaliser."
90:00+3:15 The referee brings the game to a close.
90:00+2:43 The offside flag is raised against Franco Di Santo. Indirect free kick taken by Marcus Hahnemann.
90:00+0:49 Morten Gamst Pedersen takes a shot. Marcus Hahnemann makes a save.
88:49 Shot by Keith Andrews from inside the area bounces off the post.
88:09 Shot by David Jones from 12 yards. Gael Givet gets a block in.
86:52 Nenad Milijas challenges David Dunn unfairly and gives away a free kick. Shot comes in from Morten Gamst Pedersen from the
free kick, save made by Marcus Hahnemann.
85:51 Effort on goal by Sylvan Ebanks-Blake from just outside the penalty area goes harmlessly over the target.
84:52 Substitution Franco Di Santo joins the action as a substitute, replacing Jason Roberts.
81:44 Shot by Jason Roberts from 18 yards. Save by Marcus Hahnemann.
80:21 The assist for the goal came from Stephen Ward.
80:21 GOAL - Sylvan Ebanks-Blake:Wolverhampton 1 - 1 Blackburn Sylvan Ebanks-Blake scores a headed goal from close range. Wolverhampton 1-1 Blackburn.
79:55 Keith Andrews takes a shot. Save by Marcus Hahnemann.
79:24 Shot by Morten Gamst Pedersen. Marcus Hahnemann makes a save.
78:27 Free kick taken by Marcus Hahnemann.
78:27 Substitution Sylvan Ebanks-Blake comes on in place of Kevin Foley.
78:27 The assistant referee flags for offside against David Dunn.
77:30 Effort on goal by David Jones from just outside the penalty area goes harmlessly over the target.
75:53 Free kick awarded for an unfair challenge on David Dunn by Nenad Milijas. Direct free kick taken by Morten Gamst Pedersen.
74:11 Corner from the left by-line taken by David Jones, Header on goal by Kevin Doyle from inside the box goes harmlessly over
72:52 The referee blows for offside against Jason Roberts. Marcus Hahnemann restarts play with the free kick.
71:03 Stephen Ward fouled by Phil Jones, the ref awards a free kick. David Jones restarts play with the free kick.
Correction - 69:19 Nenad Milijas has an effort at goal from outside the box which goes wide right of the target.
68:57 Nenad Milijas produces a drilled left-footed shot from 25 yards. Save made by Paul Robinson.
68:41 Morten Gamst Pedersen has an effort at goal. Save by Marcus Hahnemann.
67:57 Christophe Berra gives away a free kick for an unfair challenge on Jason Roberts. Morten Gamst Pedersen restarts play with
the free kick.
66:47 Outswinging corner taken by Morten Gamst Pedersen from the left by-line.
65:37 Substitution Michael Mancienne goes off and Nenad Milijas comes on.
63:14 The referee blows for offside against Jason Roberts. Indirect free kick taken by Marcus Hahnemann.
62:10 The official flags Jason Roberts offside. Christophe Berra takes the indirect free kick.
59:52 Morten Gamst Pedersen takes the free kick. Shot from just outside the box by Keith Andrews goes over the bar.
59:23 David Dunn has an effort from just inside the box that misses to the left of the target.
57:09 Chris Iwelumo concedes a free kick for a foul on Steven Nzonzi. Paul Robinson restarts play with the free kick.
56:14 Marcus Hahnemann takes the free kick.
56:14 Substitution Keith Andrews joins the action as a substitute, replacing Nikola Kalinic.
56:14 Handball decision goes against Michel Salgado.
55:37 Free kick awarded for a foul by Christophe Berra on Jason Roberts. Morten Gamst Pedersen restarts play with the free kick.
53:58 Inswinging corner taken from the left by-line by David Jones.
53:25 Marcus Hahnemann restarts play with the free kick.
53:25 Booking Morten Gamst Pedersen goes into the book for unsporting behaviour.
53:18 Unfair challenge on Ronald Zubar by Morten Gamst Pedersen results in a free kick.
52:37 Shot on goal by Jody Craddock from inside the box goes harmlessly over the target.
51:26 Kevin Doyle fouled by Steven Nzonzi, the ref awards a free kick. Direct strike on goal from the free kick comes in from David
Jones, save made by Paul Robinson. Inswinging corner taken from the right by-line by David Jones, clearance by Gael Givet.
46:59 Kevin Doyle takes a shot. Ryan Nelsen gets a block in.
45:01 The second half has started.
45:01 Substitution Yildiray Basturk leaves the field to be replaced by David Dunn.
45:00+1:16 The first half comes to an end.
45:00+0:43 The ball is delivered by David Jones, Shot by Jody Craddock from deep inside the six-yard box clear the bar.
44:57 Steven Nzonzi challenges Stephen Ward unfairly and gives away a free kick. Free kick taken by Kevin Foley.
41:02 Christophe Berra concedes a free kick for a foul on Jason Roberts. Morten Gamst Pedersen restarts play with the free kick.
40:06 Michel Salgado is adjudged to have handled the ball. Free kick taken by Marcus Hahnemann.
36:25 Substitution Chris Iwelumo replaces David Edwards.
36:12 A cross is delivered by Stephen Ward, save by Paul Robinson.
35:44 Free kick awarded for an unfair challenge on Stephen Ward by Phil Jones. David Jones restarts play with the free kick.
34:51 The referee blows for offside against Kevin Doyle. Paul Robinson takes the indirect free kick.
33:11 Corner taken left-footed by Morten Gamst Pedersen from the left by-line, Ryan Nelsen challenges Marcus Hahnemann unfairly
and gives away a free kick. Marcus Hahnemann takes the free kick.
32:27 The referee blows for offside. Paul Robinson takes the indirect free kick.
30:53 David Edwards is flagged offside by the assistant referee. Indirect free kick taken by Paul Robinson.
30:13 Kevin Doyle has a header from close range and clears the crossbar.
28:34 Free kick awarded for a foul by Yildiray Basturk on Michael Mancienne. Free kick taken by Christophe Berra.
27:29 Morten Gamst Pedersen provided the assist for the goal.
27:29 GOAL - Ryan Nelsen:Wolverhampton 0 - 1 Blackburn Ryan Nelsen finds the net with a goal from inside the six-yard box to the top left corner of the goal. Wolverhampton 0-1 Blackburn.
27:02 Corner taken by Morten Gamst Pedersen,
26:14 David Jones has an effort at goal from the edge of the box that misses to the right of the target.
25:53 Inswinging corner taken left-footed by David Jones, save by Paul Robinson.
25:36 David Edwards takes a shot. Phil Jones gets a block in.
21:56 The referee gives a free kick against Michael Mancienne for handball. Indirect free kick taken by Paul Robinson.
21:32 Steven Nzonzi takes a shot. Save by Marcus Hahnemann.
21:20 Stephen Ward concedes a free kick for a foul on Michel Salgado. Paul Robinson restarts play with the free kick.
18:46 Unfair challenge on Jason Roberts by Jody Craddock results in a free kick. Paul Robinson takes the free kick.
17:51 Headed effort from inside the area by Nikola Kalinic hits the post.
10:45 Foul by Gael Givet on Kevin Doyle, free kick awarded. Direct free kick taken by Ronald Zubar.
7:11 Outswinging corner taken by Morten Gamst Pedersen from the left by-line.
5:30 Ronald Zubar concedes a free kick for a foul on Jason Roberts. Free kick taken by Morten Gamst Pedersen.
2:46 The referee blows for offside against David Edwards. Paul Robinson restarts play with the free kick.
0:00 The game gets underway.
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