Beowulf Mining plc ("Beowulf" or "the Company") announces that the Company's preparations for the intended AIM introduction are progressing in line with expectations and, subject to any unforeseen circumstances, the Board of Beowulf are anticipating admission to AIM occurring on or around 9th May 2005.
The Directors of the Issuer accept responsibility for the content of this announcement.
For further information please contact;
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Gary Middleton
Matt Scuffam
St Swithin’s Public Relations
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+44 (0) 1353 649 701
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+44 (0) 207 429 4391
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Gavin Burnell
Ruegg & Co. Limited
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Nick Bealer
Phillip Securities (UK) Ltd
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+44-(0)207 584 3663
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+44-(0)207 553 8281
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Technical Note
Beowulf is focused primarily on the exploration for world-class copper and gold deposits in Sweden. Beowulf is working in three areas in Northern Sweden and has identified deposits in two of the areas that will be investigated further by diamond drilling in 2005.
The first is at Jokkmokk, where high grade boulders (15.75% copper) were located by geological investigations in 2003. Diamond drilling by a joint venture of Beowulf and Phelps Dodge Exploration Sweden AB ("Phelps Dodge") in 2004 showed a world class intersection of 110 metres of 0.82% copper equivalent. The Beowulf exploration rights in the area cover 82 square kilometres.
The second is at Grundtraesk in the Skellefte Mining District where the exploration rights cover 43 square kilometres. Diamond drilling in 2004 revealed gold mineralization of over 1 gram per ton over significant widths.
Diamond drilling in early 2005 will test a geophysical anomaly with associated sulphide boulders containing up to 10 grams per ton gold, 200 grams per ton silver and 1% copper. The Skellefte Mining District contains major copper and gold deposits, and has seen mining since the 1920's.
The third area is at Ussalahti in the Kiruna Mining District where the exploration rights cover 10 square kilometres. The concessions were granted in January 2005 and are considered prospective for copper and gold volcanogenic massive sulphide deposits.
Beowulf is the name of an epic poem, which is widely regarded as the first great work of English literature.
