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2017-07-10

Beowulf: Almedalen/Kallak North Exploitation Concession

The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations ("MAR") (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in the
public domain.

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.

10 July 2017

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, provides an update on Kurt Budge,

Chief Executive Officer's ("CEO"), attendance at Almedalen during the
week of the 3 July 2017.

Almedalen takes place each year in Visby, Sweden, and provides a
unique arena for Swedish decision-makers in politics, government
agencies, business, and NGOs to meet, build relationships, discuss,
and debate. The CEO also attended Almedalen in 2016.

At Almedalen, the CEO met with representatives of the Swedish mining
industry, politicians, and government agencies. During these
meetings, the CEO detailed the chronology of the application process
for an Exploitation Concession for Kallak North, and presented the
case that the Company's application, and recent supplementary
documentation, including a Heritage Impact Assessment, have more than
satisfied the requirements of the prescribed permitting process.

The CEO shared the Company's `big picture' vision of Jokkmokk's
economic transformation, that could be delivered by a mining
operation at Kallak, and explained the Company's development
philosophy towards designing, engineering, and building a modern and
sustainable mining operation.

The CEO talked of the political support in Jokkmokk and Norrbotten,
and local business support for the Kallak project, the frustration
being felt by many with the permitting process, the Company's future
investment plans for Kallak, including a Scoping Study and further
drilling, as well as the value the Company places on forming strong
partnerships with stakeholders in Jokkmokk and Norrbotten, to take
the Kallak project forward.

Kurt Budge, CEO, commented:

"It was good to be back at Almedalen this year. It provides a unique
opportunity to meet and speak with key decision makers. The Company
is committed to building a strong mining business in Sweden, and our
attendance at Almedalen is part of that.

"In meetings, I made sure that it is understood that the Mining
Inspectorate has now confirmed to the Government of Sweden that the
Kallak Environmental Impact Assessment ("EIA") is consistent, in the
detail provided, in meeting the requirements of the Supreme
Administrative Court's ("SAC") Norra Kärr judgement.

"With respect to Laponia, which was granted World Heritage Status in
1996, I explained the guidelines for the establishment of its
boundary, which state that the protected area should typically be so
largely defined that exploitations outside the area should not be
able to have a significant influence on the core value of the World
Heritage Status (Regeringens skrivelse 2001/02:171, Unescos
världsarvskonvention ochre de svenska världsarvsobjekten).

"I made it clear, that since late 2014, the Swedish Minerals Act and
the Environmental Code have not changed, nor has our application,
except for eliminating the Jelka-Rimakåbbå transport corridor from
future planning in November 2014, and Laponia has been in existence
throughout. Also, that in 2015, the County Administrative Board for
Norrbotten supported our application and the Mining Inspectorate
recommended to the Government of Sweden that the Exploitation
Concession be awarded, and now we have it confirmed by the Mining
Inspectorate that our EIA is consistent, in the detail provided, in
meeting the requirements of the SAC's Norra Kärr judgement.

The Company is in communication with the Government of Sweden, but
with the Swedish summer holidays upon us, we do not expect much
progress on our application until the start of the new parliamentary
session in mid-September.

"We will provide further updates to shareholders in due course."

Enquiries:

Beowulf Mining plc
Kurt Budge, Chief Executive Officer Tel: +44 (0) 20 3771 6993
Cantor Fitzgerald Europe(Nominated Advisor & Broker)
David Porter / Craig Francis Tel: +44 (0) 20 7894 7000
Blytheweigh
Tim Blythe / Megan Ray Tel: +44 (0) 20 7138 3204

Cautionary Statement

Statements and assumptions made in this document with respect to the
Company's current plans, estimates, strategies and beliefs, and other
statements that are not historical facts, are forward-looking
statements about the future performance of Beowulf. Forward-looking
statements include, but are not limited to, those using words such as
"may", "might", "seeks", "expects", "anticipates", "estimates",
"believes", "projects", "plans", strategy", "forecast" and similar
expressions. These statements reflect management's expectations and
assumptions in light of currently available information. They are
subject to a number of risks and uncertainties, including, but not
limited to, (i) changes in the economic, regulatory and political
environments in the countries where Beowulf operates; (ii) changes
relating to the geological information available in respect of the
various projects undertaken; (iii) Beowulf's continued ability to
secure enough financing to carry on its operations as a going
concern; (iv) the success of its potential joint ventures and
alliances, if any; (v) metal prices, particularly as regards iron
ore. In the light of the many risks and uncertainties surrounding any
mineral project at an early stage of its development, the actual
results could differ materially from those presented and forecast in
this document. Beowulf assumes no unconditional obligation to
immediately update any such statements and/or forecasts.

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http://news.cision.com/se/beowulf/r/almedalen-kallak-north-exploitation-...
http://mb.cision.com/Main/11673/2304852/698411.pdf

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