Beowulf Regulatory News (BEM)

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13 June 2022

Beowulf Mining plc

("Beowulf" or the "Company")

CEO appointed for Jokkmokk Iron

Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, announces the appointment of Ulla Sandborgh as CEO of Jokkmokk Iron Mines AB ("Jokkmokk Iron"), Beowulf's wholly owned Swedish subsidiary which is developing the Kallak Iron Ore Project ('Kallak").

Ulla has held senior positions in private enterprise and public institutions, in sectors including infrastructure, electricity and water. Her most recent role was a Director General, Ministry of Enterprise, The Government of Sweden, in which role she was responsible for issues affecting the limestone and cement industries and accountable for the development of a strategy to promote the efficient and sustainable usage of water. Ulla has extensive experience in managing permitting processes and, as part of this, engaging with stakeholders, ensuring interests are safeguarded and benefits shared. Ulla has a degree in Civil Engineering from KTH Royal Institute of Technology and is an elected Member of the Royal Swedish Academy of Engineering Sciences.

Ulla Sandborgh, CEO, Jokkmokk Iron comments:

"It's an exciting time to join Jokkmokk Iron Mines as CEO. The Company can now move forward after receiving the grant from the Swedish Government for an Exploitation Concession for Kallak North. We are now focused on taking the next steps, securing all remaining permits and moving towards our goal to be in production in 3-4 years.

"For me, it's important to strengthen the partnerships in the region for Jokkmokk Iron, and I am much looking forward to working together with the local and regional community as well as its leaders in the development of the region. It's important with a strong local community and I believe that Jokkmokk Iron can be a key player in supporting the local community.

"It is a big responsibility to create the most modern and sustainable mining operation at Kallak, but it is a responsibility that I am excited to have. I am focused on minimising Kallak's impacts on the environment and maximising the positive benefits that flow from the project to the community in Jokkmokk. We can do this by developing a Net-Zero CO2 emissions operation, creating employment for local people, and building meaningful partnerships in the community.

"The ore deposit in Kallak can strongly contribute to the Green Transition, together with fossil-free steelmakers in Norrbotten, and in doing so, Jokkmokk Iron can play its part in tackling the Climate Emergency.

"I am very much looking forward to continuing this work in Jokkmokk as CEO of Jokkmokk Iron."

Kurt Budge, CEO Beowulf Mining comments:

"With the award of the Concession for the Kallak project, Jokkmokk Iron is moving into the next phase and we see the strategic need for a CEO strongly connected with both the Swedish private and public sectors. Ulla's profile is an excellent fit. She brings extensive experience from trade and industry in Sweden and deep knowledge of environmental permitting. Ulla is a tremendous addition to the management team and will help Jokkmokk Iron make rapid progress. I am very excited to work with Ulla and for what we can achieve as a team."

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Cautionary Statement

Statements and assumptions made in this document with respect to the Company's current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Beowulf. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to , (i) changes in the economic, regulatory and political environments in the countries where Beowulf operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) Beowulf's continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) metal prices, particularly as regards iron ore. In the light of the many risks and uncertainties surrounding any mineral project at an early stage of its development, the actual results could differ materially from those presented and forecast in this document. Beowulf assumes no unconditional obligation to immediately update any such statements and/or forecast.