17

Sales of Shares

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 October 2017

Beowulf Mining plc

(“Beowulf” or the “Company”)

Sales of Shares

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, announces that Bevan Metcalf (Non-Executive Chairman), a person discharging managerial responsibilities (“PDMR”), sold 8,500,000 shares on 16 October 2017, following the exercise of options notified on 10 October 2017. After the sale of shares, Mr Metcalf has 2,165,841 ordinary shares remaining in the Company representing approximately 0.405% percent of the issued share capital of the Company.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides additional detail.

Enquiries:

Beowulf Mining plc

Kurt Budge, Chief Executive Officer Tel: +44 (0) 20 3771 6993

Cantor Fitzgerald Europe

(Nominated Advisor & Broker)

David Porter Tel: +44 (0) 20 7894 7000

Blytheweigh

Tim Blythe/Megan Ray Tel: +44 (0) 20 7138 3204

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Bevan Metcalf

2

Reason for the notification

a)

Position/status

PDMR – Non-executive Chairman

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Beowulf Mining plc

b)

LEI

213800MV3XGAOASPT433

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 1p each

GB0033163287

b)

Nature of the transaction

Sale of shares

c)

Price(s) and volume(s)

Price

Volume(s)

6.25p

8,500,000

d)

Aggregated information

– Aggregated volume

– Price

Not applicable

e)

Date of the transaction

16 October 2017

f)

Place of the transaction

AIM of the London Stock Exchange