Issue of Equity

BEOWULF MINING PLC                               

                             Exercise of Warrants                              

1 April 2008.

Beowulf (AIM: BEM), the AIM-traded mineral exploration company which owns the
Ballek copper gold project, the Ruoutevare iron project and the Grundtrask gold
project in Northern Sweden, announces that 6,350,000 warrants to subscribe for
ordinary shares were exercised yesterday at an exercise price of 1p per share.

Mrs Carole Rowan exercised 4,100,000 warrants.

Mr Edward Taylor, a director of Beowulf Mining, exercised 250,000 warrants.

Dr. Robert Young, a director of Beowulf Mining, transferred 2,000,000 warrants
for nil fee to Miss Eleanor Poulton, who exercised the warrants. Miss Eleanor
Poulton has agreed to deposit the resulting shares with Skandinaviska Enskilda
Banken AB against the issue of depositary notes which will be traded on the
Swedish Aktietorget Market.

Application has been made for the new ordinary shares to be admitted to trading
on AIM and this is expected on 7 April 2008.

The number of ordinary shares in issue for Beowulf Mining PLC is now
80,898,247.

Contact:

Dr. Robert Young, Chairman Beowulf Mining Plc
[phone]

Gavin Burnell, Ruegg & Co Limited
[phone]

David Scott / Nick Bealer, Alexander David Securities Limited
[phone]

Gary Middleton, St. Swithins PR Ltd
07951 603 289