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2017-01-27

Beowulf: Award of Options

27 January 2017

See Press Release Award of Options
(http://mbpublicbinaryproxy/Public/11673/2174879/adaa5e122f09ab05.pdf)

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 options have been
granted on 26 January 2017 over a total of 4,500,000 ordinary shares
of 1 pence each, representing approximately 0.9% of the issued share
capital of the Company. The allocation of options is as follows:

+---------+-----------+-------------------------+----------------------------+
| |Position |Number of Options Granted|Total number of Options Held|
+---------+-----------+-------------------------+----------------------------+
|Chris |Non |2,500,000 |2,500,000 |
|Davies |-executive | | |
| |Director | | |
+---------+-----------+-------------------------+----------------------------+
|Rasmus |Exploration|2,000,000 |2,000,000 |
|Blomqvist|Manager | | |
+---------+-----------+-------------------------+----------------------------+

This award of options recognises the excellent contribution made by
Rasmus and Chris to the success of the Company during 2016. Kurt
Budge (CEO) and Bevan Metcalf (Chairman) have decided to take their
annual award subject to the grant of the Exploitation Concession for
Kallak North with the number of options and terms of the award to be
decided at that time.

The exercise price of the options is 12 pence per share, which is
equal to the closing mid-market price of the shares on 25 January
2017, the date immediately preceding the date of grant. The options
vest over a two year period with 50% vesting on the first anniversary
of grant and 50% on the second anniversary of grant. The options are
valid for five years from the date of grant.

Options granted to Mr. Davies and Mr. Blomqvist have been granted
under the Company's Unapproved Share Option Scheme.

Following the grant of options, there will be 22,500,000 options in
issue representing approximately 4.48% of the Company's issued share
capital. Of the total number of options in issue 12,333,333 options
have vested.

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

Enquiries:

Beowulf Mining plc

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

Cantor Fitzgerald Europe

(Nominated Advisor & Broker)

Phil Davies / David Porter /Craig Francis 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 |Chris Davies |
+---+-----------------------------------+--------+---------+
|2 |Reason for the notification |
| | |
+---+-----------------------------------+--------+---------+
|a) |Position/status |PDMR - Non |
| | |-Executive |
| | |Director |
+---+-----------------------------------+--------+---------+
|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 |N/A |
+---+-----------------------------------+--------+---------+
|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 |Share options |
| |instrument, type of instrument |over ordinary |
| |Identification code |shares of 1p |
| | |eachGB0033163287 |
+---+-----------------------------------+--------+---------+
|b) |Nature of the transaction |Award of share |
| | |options over |
| | |ordinary shares |
+---+-----------------------------------+--------+---------+
|c) |Price(s) and volume(s) |Price(s)|Volume(s)|
+---+-----------------------------------+--------+---------+
| | |12 pence|2,500,000|
+---+-----------------------------------+--------+---------+
|d) |Aggregated information - Aggregated|Not applicable |
| |volume - Price | |
+---+-----------------------------------+--------+---------+
|e) |Date of the transaction |26 January 2017 |
+---+-----------------------------------+--------+---------+
|f) |Place of the transaction |Off market |
+---+-----------------------------------+--------+---------+

+---+-----------------------------------+--------+---------+
|1 |Details of the person discharging |
| |managerial responsibilities / person |
| |closely associated |
+---+-----------------------------------+--------+---------+
|a) |Name |Rasmus Blomqvist |
+---+-----------------------------------+--------+---------+
|2 |Reason for the notification |
| | |
+---+-----------------------------------+--------+---------+
|a) |Position/status |PDMR - |
| | |Exploration |
| | |Manager |
+---+-----------------------------------+--------+---------+
|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 |N/A |
+---+-----------------------------------+--------+---------+
|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 |Share options |
| |instrument, type of instrument |over ordinary |
| |Identification code |shares of 1p |
| | |eachGB0033163287 |
+---+-----------------------------------+--------+---------+
|b) |Nature of the transaction |Award of share |
| | |options over |
| | |ordinary shares |
+---+-----------------------------------+--------+---------+
|c) |Price(s) and volume(s) |Price(s)|Volume(s)|
+---+-----------------------------------+--------+---------+
| | |12 pence|2,000,000|
+---+-----------------------------------+--------+---------+
|d) |Aggregated information - Aggregated|Not applicable |
| |volume - Price | |
+---+-----------------------------------+--------+---------+
|e) |Date of the transaction |26 January 2017 |
+---+-----------------------------------+--------+---------+
|f) |Place of the transaction |Off market |
+---+-----------------------------------+--------+---------+
| | | |
+---+-----------------------------------+--------+---------+

-----------------------------------------------------------
http://news.cision.com/se/beowulf/r/award-of-options,c2174879
http://mb.cision.com/Public/11673/2174879/adaa5e122f09ab05.pdf

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