Exploration Update

Beowulf Mining PLC
07 June 2005


                               BEOWULF MINING PLC

                                  News Release

Drilling Intersects Further Gold Mineralisation at Grundtrask

Reverse Circulation Drilling Planned on Central Zone

                         RESULTS OF GRUNDTRASK DRILLING

LONDON: 7 June 2005 - Beowulf Mining PLC ('Beowulf'), the AIM-traded exploration
company, reports the analytical results from the drilling program that took
place during February and March at Grundtrask in the Skellefte Mining District
of northern Sweden.

Gold analysis from hole 5004 yielded a 30.23 m section (16.2 to 46.4 m) with an
average grade of 1.14 grams per tonne and included a section of 6m of 2.16 grams
per tonne. The hole 5004 was in the 'Central Zone Mineralisation' at GrundtrTM?
sk, which is now proven to extend for 675 metres. The zone is open to the
northwest and southeast. The Directors believe that geophysical data indicate
that the Central Zone Mineralisation extends for a further 1 kilometre at both
ends.

Drill holes 5001 and 5002 that tested outlying areas of interest did not
intersect significant gold mineralisation.

The present drilling has been carried out using core drilling, which only
retrieves drill cores with a diameter of 42mm. Other operators in the Skellefte
Mining District (Mawson Resources, Lappland Gold and Dragon Mining) have shown
that higher grades of gold, possibly showing the true gold grade, have been
obtained using large diameter reverse circulation drilling. Thus the next
drilling at GrundtrTM?sk will be this large diameter drilling.

Commenting on the results Dr. Robert Young, Chairman of Beowulf states 'We are
very pleased to have outlined such a large gold bearing structure and we are
confidently expecting to see an upgrading of the gold values with the reverse
circulation drilling later in 2005.'

For further information contact :-

Dr. Robert Young [phone]
Chariman
Beowulf Mining plc


                      This information is provided by RNS
            The company news service from the London Stock Exchange