Raul Jimenez converted a late penalty after Ryan Alebiosu was adjudged to have handled the ball inside the box, denying Rovers a valuable away victory.
Despite the late setback, Mowbray praised his players and said he was extremely proud of their overall performance.
“We’re left frustrated at the death and I’m disappointed for the supporters, because it looked like the team would win at Molineux," Mowbray told RoversTV.
“We deserved more and I didn’t feel they were going to score in those last 20 minutes.
“Yes, they put Jimenez on, and he’s a big strong boy who uses his body and makes it difficult for central defenders, but it wasn’t as if they were peppering our goal.
“Even the penalty, it wasn’t a last-ditch tackle or block and the still picture I’ve seen look like it was outside the box.”
“In the 93rd minute, you’ve got to be sure as a referee, haven’t you? You’ve got to make sure that’s a penalty. The still image definitely looks like it was outside the box” he continued.
“The decision was made and we have to move on and take the positives from the performance, because we were pretty good, but there is still lots to work on and improve on.
“I hope, as we go on, we can get to a better level than we showed today.
“We’ve spoken pre-game about what it takes to be a footballer at this level and you have to bring certain aspects to the team if you want to enjoy your career.”