PRESS RELEASE 6th June 2007

Diamond Drill Results from Grundtrask Gold Project

Latest drilling at Grundtrask Gold Prospect , Northern Sweden shows Gold mineralisation present over 800 metres of strike length and open at both ends and at depth.

Beowulf Mining PLC (AIM:BEM), the AIM-traded mineral exploration company is pleased to announce that analytical results have been received from the latest diamond drilling programme on the company's 100% owned Grundtrask gold project in the Skellefte Mining District, N. Sweden. The drill programme tested the southern extension where higher gold grades were noted from previous drilling in 2005 by Beowulf.

During 2006 and early 2007 an additional 10 diamond drill holes were completed on the Grundtrask project. The holes were all targeted on the structure, now called the Southern Gold Structure, that was identified by DDH 05004.

Drilling just completed, has outlined a sigmoidal shaped mineralised zone consisting of dense sheet-veining over a strike length of greater than 160m with widths of up to 20 metres. Gold grades of up to 5.2m at 4.28g/t have been returned from the Southern Gold Structure and these are summarised in the table below.

Geological interpretation of drill core from Grundtrask has demonstrated the existence of a mineralised corridor in which sigmoidal gold bearing structures, of which the Southern Gold Structure is just one example, occur over a strike length of in excess of 800m. The three sigmoidal structures that have been interpreted to date are believed to be generated by compressional tension domain.

The mineralised structures are characterised by intense micro-veining of quartz, arsenopyrite and chalcopyrite in a host of silicified intermediate lavas of the Vargfors Formation. Conspicuous molybdenite, (the major ore mineral of molybdenum), also occurs in veins in some of the drill holes. The gold, is believed to be carried in the chalcopyrite.

Highlights of the recent drill campaign include 5.2m at 4.28g/t Au from 5.8m and 16.9m at 1.86g/t Au from 15.5m in DDH 06002, 18m at 1.77g/t Au from 41m in DDH 06005.

Details of all drill holes are given in Table 1 below. The drill core samples have been assayed for gold by Fire Assay techniques and additional metal elements by ICP at the ALS/Chemex Laboratory in Vancouver. Analysis of the samples involved analysis of blank, duplicate and random standard reference samples.

Table 1. GRUNDTRASK GOLD DIAMOND DRILL RESULTS

Hole No	From	To	Length (m)	Grade g/t
#04001	53.00	57.62	4.62	2.80
#04002	49.70	41.80	1.00	1.17
#04003 NSI
#05001 NSI
#05003 NSI
#05004	27.85	41.80	13.95	1.94
#06001	16.60	18.50	1.90	2.11
plus	27.90	33.60	5.70	2.53
plus	61.90	62.15	0.25	8.22
#06002	5.80	11.00	5.20	4.28
plus	15.50	32.40	16.90	1.86
#06003	10.10	17.70	7.60	2.43
plus	20.90	24.40	3.50	3.79
plus	26.10	27.80	1.70	3.40
plus	31.30	37.20	5.90	2.47
#06004	65.10	65.30	1.00	4.29
plus	62.60	63.60	1.00	1.11
#06005	41.00	59.00	18.00	1.77
#06006	22.60	24.41	0.65	1.10
#06007 NSI
#06008	7.55	8.20	0.65	2.20
plus	18.00	22.00	4.00	1.01
plus	32.00	33.00	1.00	2.10
plus	79.00	85.00	6.00	1.02
#06009	34.00	35.00	1.00	1.16
plus	41.00	44.00	3.00	1.26
plus	51.10	51.46	0.36	1.30
plus	63.00	64.00	1.00	1.22
#06010 NSI

NSI = No significant intercept.

Commenting on the results Dr. Jan-Ola Larsson, Beowulf's Technical Director, stated that "The drilling has encountered gold bearing sulphide mineralisation at shallow depths starting at 12 metres or less, making the deposit amenable to open pit mining. The latest results show that this mineralised structure is now over 800 meters long.

The mineralisation is now attracting the interest of several companies who have expressed an interest in a joint venture arrangement. Beowulf will continue diamond drilling in 2007 and programme scale depends on the outcome of joint venture discussions."

In accordance with AIM Rules, the information in this announcement has been reviewed and signed off by Dr. Jan Ola Larsson, (Fil. Kand, PhD, DIC). Technical Director of the Company, who has over 30 years relevant experience within the sector.

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