PRESS RELEASE 9th NOVEMBER 2005

Progress Report on the Ballek Copper Gold Deposit Arjeplog County of Northern Sweden

London: 9 November 2005. Beowulf Mining plc (“Beowulf” or “the Company”) is pleased to report progress on the Ballek claims which cover 100 square kilometres in the Arjeplog County of northern Sweden.

Analysis of a selected drill core in the Lulepotten copper gold deposit, has given 9 metres of 2.08% copper and 3.69 grams per tonne of gold between 98 and 107m of drill hole number 64206 (a one metre sample gave 20.5 grams per tonne of gold). A 70 metre mineralised section of the same hole, between 50m to 120m, contained 0.42% copper and 0.59 grams per tonne of gold. The hole was drilled at a 65 degree angle to the east.

This mineralised zone is seen to be above the zone responsible for the large gravity feature, which is shown in the 3-dimensional model below.

The Ballek claims contain the copper gold Lulepotten deposit, which was drilled between 1960-71 by the Geological Survey of Sweden, who estimated the deposit contained 5.1 million tonnes of 0.73% copper, 0.25 grams per tonne of gold and 7 grams per tonne of silver. This resource estimate is historical and does not conform to the Canadian NI 34-101 or Australian JORC resource definitions.

The Lulepotten deposit is only one of several copper gold zones in the Ballek area. The zones contain sulphide mineralisation composed of chalcopyrite, bornite, chalcocite with abundant iron oxides.

The Company is examining ways in which advanced geophysical techniques can be applied to define more specific drilling targets on the Ballek project area.

Commenting on the results, Dr. Robert Young, Chairman of Beowulf said “the results improve the existing gold grades at Lulepotten and they suggest that the mineralisation overlies the large gravity feature which attracted Beowulf to the Ballek area. We are pleased with progress made and look forward to updating the market further in the near future”.

Contact:

Dr. Robert Young, Chairman, Beowulf Mining plc
Tel: +44-(0)1353 649 701

Gavin Burnell, Ruegg & Co Limited
Tel: +44-(0)207 584 3663

Nick Bealer, King & Shaxson
Tel: +44-(0)207 426 5986

Gary Middleton, St Swithin’s Public Relations
Tel +44 (0) 207 929 4391

BALLEK PROJECT AREA

Uranium bearing boulders plotted on topographic base map
gravity anomaly and magnetic structures and copper prospects

Uranium bearing boulders plotted on regional gravity map with the
location of the Lulepotten deposit and other registered known copper prospects

	Copper prospects no 1-12 confirmed by drilling
	Median grade uranium bearing boulders identified by scintillometer readings
	High grade uranium bearing boulders identified by scintillometer readings

BALLEK Project, N. Sweden

BALLEK Project, N. Sweden

BALLEK Project, N. Sweden

BALLEK Project, N. Sweden