Graphite Collaboration Agreement

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations ("MAR") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Kurt Budge, Chief Executive Officer.

17 April 2018

Beowulf Mining plc

("Beowulf" or the "Company")

Graphite Collaboration Agreement with Åbo Akademi University

Beowulf (AIM: BEM; Aktietorget: BEO), the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, is pleased to announce the signing of a Graphite Collaboration Agreement (the "Agreement") with Åbo Akademi University ("Åbo"), located in Turku, Finland.

The Agreement formalises the partnership that the Company, and its subsidiary Oy Fennoscandian Resources AB ("Fennoscandian"), has forged with Åbo over several years. The Agreement is focused on knowledge sharing, the identification of graphite prospects, their exploration, and development into production assets.

Kurt Budge, CEO, commented:

"I am very pleased to be working with Åbo Akademi University, its faculty of Science and Technology with its research departments, and supporting its students with work experience opportunities.

"Åbo has deep experience of where to look for graphite in Finland and it gives us a head start when the Company is selecting prospects to investigate.

"I look forward to a rewarding collaboration for both parties."

Professor Olav Eklund, Åbo Akademi, commented:

"Natural graphite is one of the twenty most critical raw materials identified by the European Union, and the bed rock of Finland contains several potential areas for graphite exploration.

"The fruitful joint project between Åbo Akademi University and Beowulf has given opportunities for students and researchers to work with Finnish graphite from exploration to nano technological research.

"So far, several potential areas of high quality flake graphite have been identified and studied for graphene exfoliation."

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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 forecasts.