Ebanks-Blake, who is understood to have attracted the interest of Crystal Palace, has been the subject of a sizeable bid but manager Dean Saunders is reluctant to let his 11-goal leading scorer leave.
But the 26-year-old striker has only six months remaining on his current contract and could still be on his way out of Molineux ahead of Thursday night's deadline should a bigger offer come in.
Ward, however, is Wanderers' only recognised left-back and is unlikely to depart.
"We've turned a bid down for Sylvan and we've turned a bid down for Wardy, that's good news for the club, the club have shown their intentions, we're not prepared to just give players away," said Saunders.
"I'd rather not say who the clubs are because obviously if they sign somebody else then that player knows he wasn't first choice.
"We have had quite a big bid in for Sylvan and there is a point where at some point you have to say yes, every player has got his price.
"I asked the chairman if we could keep him because you can't replace strikers who are scoring goals unless you've got £3-4million, so we've turned the offer down and hopefully they don't come back, but I'm not saying they won't."
Saunders admits he has spoken to Ebanks-Blake about a new contract and stresses the club would be prepared to let him leave for nothing in the summer if it came down to it.
"There is a line where the transfer fee gets that big with six months left on his contract that the club has to make a business decision - but we've not got there yet," he added.
- Sports & Recreation
- Dean Saunders