Beowulf Mining PLC Regulatory News (BEM)

1 Feb 2007 14:22

Beowulf Mining PLC01 February 2007 BEOWULF MINING plc •Winter drilling program completed at Grundtrask, N. Sweden •Further gold mineralization intersected London: 1 February, 2007: Beowulf Mining PLC (AIM:BEM), the AIM listed mineralexploration company is pleased to announce that the winter diamond drillingprogram has been completed on the Company's 100% owned Grundtrask area in theSkellefte Mining District, N. Sweden. The drill program has further tested thesouthern extension of the "Central Gold Zone" outlined from earlier drilling byBeowulf. Six inclined drill holes totalling 533.7 metres have been completed. Five of theholes have encountered sulphide mineralisation comprising relatively finegrained arsenopyrite, pyrite, molybdenite and chalcopyrite. To date Beowulf hascompleted 19 drill holes. The Central Gold Zone is now known to be over 800 m in length with widths of upto 25 m. The drilling has shown mineralisation at shallow depths, under arelatively thin cover (12 metres or less) of overburden, making the depositamenable to open pit mining. The best intersection of the first hole (06 005) drilled in this programrevealed a mineralised section of 18 m with 1.77 grams per tonne gold using a 1gram per tonne of gold cut off. Results of all other five holes are awaited. Commenting on the results Dr. Jan Ola Larsson, Beowulf technical director stated"We have the results of fourteen holes to date and we believe the resultsconfirm the potential for a significant, shallow-depth gold resource potentiallyexceeding 500,000 ounces. We look forward to reporting further news as the assayresults are received." (Research report available at http://www.beowulfmining.com) In accordance with the AIM Rules, the information in this announcement has beenreviewed and signed off by Dr Jan-Ola Larsson, (Fil.kand, PhD, DIC), TechnicalDirector of the Company who has over 30 years relevant experience within thesector. Contact: Dr. Robert Young, ChairmanBeowulf Mining plc Tel: +44-(0)1353 649 701 Gavin BurnellRuegg & Co. Limited Tel: +44-(0)207 584 3663 Nick BealerKing & Shaxson Capital Limited Tel: +44-(0)207 426 5986 Gary MiddletonSt Swithin's Public Relations Tel : +44-(0) 207 929 4391 Charles DampneyCity Capital Tel: +44-(0) 207 822 7107 This information is provided by RNS The company news service from the London Stock Exchange