The directors of Beowulf Mining PLC ('Beowulf') the AIM - traded mineral exploration company with iron, gold, copper and uranium projects in Northern Sweden (AIM:BEM) are pleased to announce that Mr Clive Sinclair-Poulton has been appointed as a director.

Aged 52, he studied law at Cambridge University graduating in 1978, before starting a twenty year career in investment banking in London with Citibankand Security Pacific (now Bank of America) as well as stockbrokers Hoare Govett.

After founding and then selling a stockbroking firm he became a founding shareholder and executive chairman of the AIM - traded themutual.net (AIM:TMN).

He has been involved in natural resources for fifteen years. Most recently, Clive was a founder member of Tanzania Gold Ltd which, following a reverse take-over, was first renamed Tanzania Gold plc then Bezant Resources plc. He was CEO of AIM listed Bezant Resources plc (AIM:BZT) with copper and gold assets in Tanzania and the Philippines until he stepped down in February this year. He continues to have a consulting role with Bezant Resources. He is resident in Ireland.

In addition, the directors have granted the following options which each expire on 3 June 2012 and have an 18 month vesting period:-

• Mr. Clive Sinclair-Poulton 2,500,000 options exercisable at 5p per share
• Mr. Anthony Scutt 250,000 options exercisable at 6p per share
• Mr. Jan-Ola Larsson 250,000 options exercisable at 6p per share
• Mr Edward Taylor 250,000 options exercisable at 6p per share.