BEOWULF MINING PLC

BEOWULF MINING PLC

Previous company name
BEOWULF GOLD PLC
Name change date
4/1/2005
Company Overview
Beowulf Mining PLC (Beowulf), with registered office in Cambridgeshire, United Kingdom, is a public limited company focused primarily on the exploration and development of mineral deposits in Sweden. Beowulf is the name of an epic poem widely regarded as the first great work of English literature. The company is listed on the London AIM market with the ticker BEM. The company was formerly known as Beowulf Gold PLC. It was incorporated in the year 1988.
Beowulf is working on six projects in Northern Sweden which it considers have commercial potential, namely, Ruoutevare Iron Titanium Project, Kallak Iron Ore Claim, Ballek Copper Gold Project, Jokkmokk Copper Gold Project, Grundtrsk Gold Project and Ussalahti Copper Project.
Beowulf is working in three areas in Northern Sweden and has identified deposits in two of the areas diamond drilling.
The first is at Jokkmokk, where high grade boulders were located by geological investigations in 2003. Diamond drilling by a joint venture of Beowulf and Phelps Dodge Exploration Sweden AB (“Phelps Dodge”) in 2004 showed a world class intersection of 110 metres of 0.82 per cent copper equivalent. The Beowulf exploration rights in the area cover 82 square kilometres.
The second is at Grundtrask in the Skellefte Mining District where the exploration rights cover 43 square kilometres. Diamond drilling in 2004, revealed gold mineralization of more than gram per ton over significant widths. Diamond drilling in early 2005 tested a geophysical anomaly with associated sulphide boulders containing up to 10 grams per ton gold, 200 grams per ton silver and one per cent copper. The Skellefte Mining District contains major copper and gold deposits, and has seen mining since the 1920s.
The third area is at Ussalahti in the Kiruna Mining District where the exploration rights cover 10 square kilometres. The concessions were granted in January 2005 and are considered prospective for copper and gold volcanogenic massive sulphide deposits.
Beowulf intends to gradually increase its exploration portfolio in Sweden and possibly other Scandinavian countries. To help expand its activities Beowulf will seek other joint venture partners.
Business Summary
The principal activity of the company is the exploration for worldclass copper and gold deposits.
Description and history
The principal activity of the company is the exploration for worldclass copper and gold deposits.

Beowulf is working on six projects in Northern Sweden which it considers have commercial potential. The areas are:-

Ruoutevare Iron Titanium Project

Drilling in the 1970’s by the Swedish Geological Surrey study estimated 116 million tonnes, with an average of 38.2% iron and 5.6% titanium. A richer section of 20 million tonnes is registered with a grade of 47% iron and 11% titanium oxide. Beowulf is conducting pre-feasibility studies on the deposit, to see if the deposit can be brought into production. The Swedish Raw Materials Group has concluded that the deposit could be developed on the basis of a 10 million tons per year operation over an eight year period. Further studies on metallurgy, transport costs, environmental studies, and additional reserves are on going.

Grundtrask Gold Project

Grundtrask is located near the town of Mala in the Skelleftea mining district and 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. The gold is associated with chalcopyrite and arsenopyrite in quartz veins and stockworks in altered pre-Cambrian basic volcanic rocks. The structure at the focus of the current drilling is only one of five structures located by I.P. and basal till geochemistry.

Kallak Iron Ore Claim

The company has registered an exploration claim of 500 hectares covering the Kallak iron deposit. The Kallak Iron deposit was discovered by the Geological Survey of Sweden in 1947-48. Only scattered drilling has been carried out and no mining activity has been registered. Calculations based on geophysical data have revealed a mineralization of 92 millions tonnes with 35-42 % iron.

Ballek Copper Gold Project

The Company has three licences that cover 11 copper prospects, including the Lulepotten copper-gold deposit which was drilled by the Geological Survey of Sweden (SGU) between 1960 and 1971 and found to contain 5.1 million tonnes of 0.73% copper and 0.25 grams per tonne of gold. The prospects are associated with a large gravity anomaly.

Jokkmokk Copper Gold Project

The Company has four licences over copper-gold projects, which were drilled in 2004 with positive results, and again in 2005 with somewhat disappointing results.

Ussalahti Copper Project

The Company has three licence exploration permits prospective for massive sulphide copper and gold deposits.

HISTORY:

The Company was incorporated on 21 December 1988 and listed on the Alternative Investment Market of the London Stock Exchange on 9 May 2005.

Formerly known as Beowulf Gold PLC

Business Line
The exploration and development of mineral deposits
Subsidiary
IRON OF SWEDEN LTD
Advisor
PRICE BAILEY LLP
IPO date
6/17/2003
US SIC Code
1021
Company Address
1, Green Hill, Little Thetford

City province or state postal code
CB6 3HD, ELY
Phone: +44 1366 500 722
Fax:
Country address: UNITED KINGDOM
Website url: www.beowulfmining.com