Beowulf Mining PLC Regulatory News (BEM)

7 Dec 2006 15:16

Beowulf Mining PLC07 December 2006 Beowulf begins new drill program for gold at Grundtrask, N. Sweden London: 7 December, 2006: Beowulf Mining PLC (AIM: BEM), the AIM listed mineralexploration company is pleased to announce that diamond drilling commenced todayon the company's 100 % owned Grundtrask gold project area in the SkellefteMining District of Northern Sweden. This drill programme is scheduled to complete a minimum of 500m of core drillingtesting the continuation along strike of the "Central Gold Zone", where previousdrilling by the company has identified gold-bearing structures over substantialwidths, (for example drill-hole 06002, 5.2m @ 4.28g/t Au from 5.8m depth;drill-hole 06003, 7.6m @ 2.43g/t Au from 10.10m depth; drill-hole 05004, 13.95m@ 1.94g/t Au from 27.85m depth). New drill sites have been selected from results of recently completed groundgeophysical surveys (magnetic and very low frequency electromagnetics (VLF))conducted by Beowulf and integrating the results with the projected trace of themineralisation already intersected. It is anticipated that the present drill program will be completed in a two-weekperiod. The structure hosting the Central Gold Zone is at least 750m in length withwidths of up to 25m consisting of a central higher grade gold core surrounded bya lower grade halo. It is open along strike and at depth. Previous drilling hasencountered mineralisation at shallow depths and it is interpreted to besub-cropping along most of its extension under a relatively thin cover (12metres or less) of glacial till and sediments making the deposit potentiallyamenable to open pit mining. For further information: 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 Tel: +44-(0)207 426 5986 Charles DampneyCity Capital Securities Limited Tel: +44-(0)207 822 7107 Gary MiddletonSt Swithin's Public Relations Tel: +44 (0) 207 429 4391 This information is provided by RNS The company news service from the London Stock Exchange