London: 13 June 2006: Beowulf Mining PLC (AIM:BEM), the AIM listed mineral exploration company is pleased to announce that a diamond drilling program has been completed on the Company's 100% owned Grundtrask gold project in the Skellefte Mining District, N. Sweden. The drill program has tested the southern extension of the "Central zone gold mineralisation" outlined from earlier drilling by Beowulf.
Four inclined drill holes for a total of 264.95 metres have been drilled by the contractor Ludvika Borrteknik HB using a lightweight, highly mobile GMG-100 wireline drill rig. All four holes have encountered abundant sulphide mineralisation over substantial widths. The sulphides are composed of relatively fine grained arsenopyrite, pyrite and chalcopyrite appearing as massive veins and disseminations.
The structure hosting the mineralization is at least 750m in length and is open at both ends. The drilling has encountered the sulphide mineralisation at shallow depths and it is interpreted to be sub outcropping along most of its extension under a relatively thin cover (12 metres or less) of glacial till and sediments making the deposit amenable to open pit mining.
A total of 132 meter lengths of drill cores have been submitted for saw splitting and sampling. The samples will be analysed for gold by Fire Assay techniques and additional elements by ICP at the ALS/Chemex laboratory in Vancouver, Canada. The assay results are expected in July 2006.
Technical details of drill holes DDH 06 001, 002, 003 and 004 of the Grundtrask Gold Project area, N. Sweden.
Total amount of drilling: 264.95 m
Notes to Editors.
Beowulf Mining PLC ('Beowulf') is focused primarily on the exploration and development of mineral deposits in Sweden.
Beowulf is working on six projects in Northern Sweden which it considers have commercial potential. The areas are:-
Ruoutevare Iron Titanium Project
Drilling in the 1970's by the Swedish Geological Surrey study estimated 116 million tonnes, with an average of 38.2% iron and 5.6% titanium. A richer section of 20 million tonnes is registered with a grade of 47% iron and 11% titanium oxide. Beowulf is conducting studies to a pre-feasibility study on the deposit. This is to see if the deposit can be brought into production.
Kallak Iron Ore Claim
The company has registered an exploration claim of 500 hectares covering the Kallak iron deposit. The Kallak Iron deposit was discovered by the Geological Survey of Sweden in 1947-48. Only scattered drilling has been carried out and no mining activity has been registered. Calculations based on geophysical data have revealed a mineralization of 92 millions tonnes with 35-42 % Iron.
Ballek Copper Gold Project
The Company has three licences that cover 11 copper prospects, including the Lulepotten copper-gold deposit which was drilled by the Geological Survey of Sweden (SGU) between 1960 and 1971 and found to contain 5.1 million tonnes of 0.73% copper and 0.25 grams per tonne of gold.
Jokkmokk Copper Gold Project
The Company has four licences over copper-gold projects. 2004 drilling revealed a copper gold ore body with an intersection of 110 metres of 0.82% copper equivalent. The 2005 drilling tested outlying geochemical and geophysical targets without finding other major copper-gold ore bodies. Exploration will be continued on the main copper gold zone located in 2004.
Grundtrask Gold Project
The Company has three exploration permits in the Skellefte Mining District. Drilling in 2003, 2004 and 2005 defined gold mineralization defined over a "Central Mineralised Zone" of 600 metres with grades of about 1 gram per ton. Further work is required to establish if a higher grade can be located on the licences.
Ussalahti Copper Project
The Company has three licence exploration permits prospective for massive sulphide copper and gold deposits.
