©2011 Beowulf Mining plc, Richmond House, Broad Street, Ely, Cambridgeshire. CB7 4AH

BEOWULF MINING plc

Hordweard?

In Beowulf, the saga, a king is described as being Hordweard, the Anglo-Saxon for a guardian of treasure. This means he looked after the wealth of his kingdom both real and metaphorical.

In Beowulf, the company, we also think of ourselves as being Hordweard as we seek to develop natural resource projects in Sweden and so are also guardians of treasure.

We have a wide portfolio of resources which range from early-stage projects to those that have had considerable work done on them.

The company is listed on both the AIM market in London and the AktieTorget market in Stockholm.

The role of Beowulf is to increase the quantity and quality of its resource portfolio and so the value of these assets and the company.

Beowulf currently holds 18 exploration permits in Northern Sweden as set out below:

The exploration permits are governed by the Swedish Minerals Act (1991:45), which was subject to amendments in 1993 and 1998. The Act accords that an exploration permit is granted for an initial period of three years, and can be subsequently renewed for a further three years by way of annual extensions.  A final extension of the permits can be granted for an additional three years, after which an application for an exploitation concession must be made. Further information on the permits can be obtained from the Mining Inspector in Luleå (Bergsstaten, Varvsgatan 41, SE 972 32, Luleå, Sweden, www.bergsstaten.se).

Much of the early work exploring and drilling was completed by the Geological Survey of Sweden, SGU, whose results and findings have been made available to Beowulf.

Ballek Copper Project

The Ballek copper-gold comprises four licences covering 11 copper prospects, including the Lulepotten copper-gold deposit. Lulepotten has a JORC-compliant Inferred Resource estimate of 5.4 million tonnes grading 0.8% copper and 0.3 grammes per tonne of gold.

Beowulf has a 50% interest in this project and is in a Joint Venture.

Ruoutevare Iron Ore Project

Contains 140 million tonnes Inferred JORC Mineral Resource at 39.1% iron.

100% owned by Beowulf, the company is planning to conduct it's own drilling and exploration programme here in the fourth Quarter of 2010.

Kallak Iron Ore Project

A magnetite project, based on exploration by Swedish Geological Survey consisting of three diamond core drill holes and geophysical surveys, has targeted 88 – 92 million tonnes at 35 – 42% iron.

100% owned by Beowulf, the company is planning to conduct it's own drilling and exploration programme here in the second Quarter of 2010.

Grundtrask Gold Project

Grundtrask  comprises three licences for 43km square. A gold-bearing structure over a strike length of 750m and up to 27m wide has been established through diamond drilling to date and it is open at both ends and at depth.

100% owned by Beowulf, the company is looking to develop the project.

Munka Molybdenum Project

This 8 square kilometre licence area which has the largest confirmed molybdenum deposit in Sweden Initial drilling indicates a resource of at least 1.7 million tonnes at 0.156% molybdenum.

100% owned by Beowulf, the company will develop this project in the future.  

Ballek and Geddaur Uranium Project

Ballek has had work completed by the SGU in the 1970's which indicate the presence of uranium.

Geddaur, with 131 square kilometres, was acquired in 2009 and adjoins Ballek.

Following work by the SGU this area is regarded as having high potential.

This could lead to further exploration and a drilling programme.

100% owned by Beowulf, the company will develop these projects in the future.  

Ruoutevare

Jokkmokk

Kallak

Grundtrask

Ballek

Stockholm