Beowulf Mining PLC Regulatory News (BEM)

7 Jun 2005 09:06

Beowulf Mining PLC07 June 2005 BEOWULF MINING PLC News Release Drilling Intersects Further Gold Mineralisation at Grundtrask Reverse Circulation Drilling Planned on Central Zone RESULTS OF GRUNDTRASK DRILLING LONDON: 7 June 2005 - Beowulf Mining PLC ("Beowulf"), the AIM-traded explorationcompany, reports the analytical results from the drilling program that tookplace during February and March at Grundtrask in the Skellefte Mining Districtof northern Sweden. Gold analysis from hole 5004 yielded a 30.23 m section (16.2 to 46.4 m) with anaverage grade of 1.14 grams per tonne and included a section of 6m of 2.16 gramsper tonne. The hole 5004 was in the "Central Zone Mineralisation" at GrundtrTM?sk, which is now proven to extend for 675 metres. The zone is open to thenorthwest and southeast. The Directors believe that geophysical data indicatethat the Central Zone Mineralisation extends for a further 1 kilometre at bothends. Drill holes 5001 and 5002 that tested outlying areas of interest did notintersect significant gold mineralisation. The present drilling has been carried out using core drilling, which onlyretrieves drill cores with a diameter of 42mm. Other operators in the SkellefteMining District (Mawson Resources, Lappland Gold and Dragon Mining) have shownthat higher grades of gold, possibly showing the true gold grade, have beenobtained using large diameter reverse circulation drilling. Thus the nextdrilling at GrundtrTM?sk will be this large diameter drilling. Commenting on the results Dr. Robert Young, Chairman of Beowulf states "We arevery pleased to have outlined such a large gold bearing structure and we areconfidently expecting to see an upgrading of the gold values with the reversecirculation drilling later in 2005." For further information contact :- Dr. Robert Young +44 (0) 1353 649 701CharimanBeowulf Mining plc This information is provided by RNS The company news service from the London Stock Exchange