Admission to AIM

Beowulf Mining PLC
09 May 2005



9 May 2005


                               Beowulf Mining plc


                                Admission to AIM


Beowulf Mining plc ('Beowulf' or the 'Company'), today announces that, with
effect from 08.00am today (9 May 2005), its existing ordinary shares of 1p each
('Ordinary Shares') have been admitted to AIM. Ruegg & Co Limited is acting as
the nominated adviser and Phillip Securities (UK) Limited is acting as broker.

Words and expressions defined in the Admission Document dated 29 April 2005
shall have the same meaning as in this announcement.

Key Statistics

Number of Ordinary Shares in issue at Admission                     56,023,247
Number of options and warrants outstanding upon Admission*          29,817,033
Market Capitalisation of the Company at 9.75p per 
Ordinary Share**                                                 £5.46 million


* Full details of the options and warrants are set out in the Admission Document
** Being the mid-price per Ordinary Share at the close of business on 6 May 2005
as quoted on OFEX

The Company is engaged in mineral exploration and is focused primarily on
exploration for copper and gold deposits in three areas of northern Sweden:

1. The 'Jokkmokk' area, consisting of the Majves 1 and 2, Tjaula and Karvo
exploration permits covering 8,200 hectares.

2. The 'Grundtrask' area, consisting of the Grundtrask 1, 2 and 3
exploration permits covering 4,276 hectares.

3. The 'Ussalahti' area, consisting of the Ussalahti 1, 2 and 3 exploration
permits covering 923 hectares.

Zones of mineralisation have been identified in two of these areas and will be
the subject of further investigation during 2005, including a diamond drilling
programme. The Directors will attempt to secure additional exploration claims in
Sweden and possibly other Scandinavian countries during 2005 and 2006. In order
to expand its activities Beowulf will seek other joint venture partners.

Bob Young, Managing Director at Beowulf, said, 'We are very pleased to see our 
company commence trading on AIM and we look forward to keeping the market 
updated as progress is made'.

- Ends -

For further information, please contact:
Beowulf Mining plc     Ruegg & Co Limited     Phillip Securities (UK) Limited
Bob Young              Gavin Burnell          Nick Bealer
                       Brett Miller
T: 01353 649701        T: 020 7584 3663       T: 020 7426 5986

NOTES TO EDITORS

About Beowulf Mining plc

The Company is engaged in mineral exploration and is focused primarily on
exploration for copper and gold deposits in three areas of northern Sweden:

1. The 'Jokkmokk' area, consisting of the Majves 1 and 2, Tjaula and Karvo
exploration permits covering 8,200 hectares.

2. The 'Grundtrask' area, consisting of the Grundtrask 1, 2 and 3
exploration permits covering 4,276 hectares.

3. The 'Ussalahti' area, consisting of the Ussalahti 1, 2 and 3 exploration
permits covering 923 hectares.

Zones of mineralisation have been identified in two of these areas and will be
the subject of further investigation during 2005, including a diamond drilling
programme. The Directors will attempt to secure additional exploration claims in
Sweden and possibly other Scandinavian countries during 2005 and 2006. In order
to expand its activities Beowulf will seek other joint venture partners.

The Beowulf project areas in northern Sweden are located in areas underlain by
geology with a proven potential for hosting iron oxide copper gold, orogenic
lode-gold and stratiform copper-gold deposits. The first two of these types of
mineralisation support mining operations in northern Sweden - the Aitik copper
mine and the Svartliden gold mine.

The first project area is at Jokkmokk, where a boulder containing a high grade
of copper was located by geological investigations in 2003. During 2004, Beowulf
and Phelps Dodge via the Joint Venture, conducted drilling and mobile metal ion
geochemistry over the Majves claims. This showed an intersection of 110 metres
of 0.82% copper equivalent. Drilling of an initial 1,500 metres has commenced in
2005 under the Joint Venture and if the drill results are positive it is
anticipated that additional drilling will be undertaken. It is hoped that an
iron oxide copper gold deposit will be outlined in 2005.

By an option agreement between the Company and Phelps Dodge Exploration Sweden
AB ('Phelps Dodge') dated 2 April 2004 and as amended by a further agreement
between the parties on 28 June 2004, the Company has granted Phelps Dodge the
right to earn up to 80% ownership of any development projects on any of the
Majves 1, Majves 2, Karvo 1 and Tjaula 1 licence areas by funding all
exploration costs, including the cost of a full (bankable) feasibility study on
any deposit found. Following a decision to proceed to development, Beowulf will
have to fund its share of the development costs in order to retain its 20%
interest, or revert to a 1.5% net smelter return. Phelps Dodge is currently
incurring expenditure on the licence areas, but as at 25 April 2005 (being the
latest practicable date prior to the publication of this document) had not
formally elected to earn the first portion of its potential 80% interest.

The second project area is Grundtrask in the Skellefte mining district.
Diamond drilling during 2004 revealed gold mineralisation of over one gram per 
tonne of ore over widths of up to 17 metres. Diamond drilling undertaken in
February 2005 was to test a geophysical anomaly with associated sulphide 
boulders containing up to 11 grams of gold per tonne of ore and 208 grams of 
silver per tonne of ore. Whilst the gold assay results have not yet been
completed by the laboratory in Canada, the Competent Person's Report confirms
that the mineralisation extends for at least 600 metres. The Skellefte mining 
district contains several large base metal and gold deposits, where mining has 
taken place since the 1920's.

The third project area is at Ussalahti in the Kiruna mining district where the
exploration rights owned by Beowulf cover approximately 9 square kilometres. The 
concessions were granted in January and February 2005 and are considered by the 
Directors to be prospective for copper and gold volcanogenic massive sulphide 
deposits.
The interest in these Swedish project areas by Beowulf comes at a time when
world commodity prices have been increasing in the face of rising demand from 
the newly-emerging industrial nations of China and India. Sweden, with 
favourable fiscal legislation for mining and exploration companies, is
experiencing a boom in exploration for metals. A number of the world's major 
mining companies are actively exploring or reappraising Sweden's
established mineral areas, as are several junior exploration companies.
The Company's executive Directors have a proven track record of operating in
northern Sweden and believe that Beowulf enjoys good relations with the national 
and local mining authorities and is well regarded by the local populace.

Directors

Robert Douglas Young, BSc MSc PhD, (aged 60) - Executive Chairman
Dr Young holds a first class honours degree in geology and chemistry, an MSc in
Mineral Exploration and a PhD in geochemistry. He has over 30 years of varied 
experience in the mining industry of Europe and South East Asia. Positions held 
include director of Minerex Limited (Ireland) between 1972 and 1977 and Chief 
Metals Geologist for Shell Minerals (Indonesia) between 1980 and 1984. Dr Young 
was the founding Managing Director of Cambridge Mineral Resources PLC, where he 
was a director between 1992 and 1997 and was a director of Angus & Ross PLC 
between 1999 and 2002, both of which he floated on Ofex and then moved to AIM.

Jan-Ola Larsson, Fil.kand, PhD, DIC, (aged 63) - Technical Director
Dr Larsson holds a geology degree from Uppsala University and a PhD in 
geochemistry from The Royal School of Mines, Imperial College of Science and 
Technology, London University. He studied with Dr Young between 1968 and 1971. 
He has over 30 years experience of mining and mineral exploration in Canada, 
Brazil and Sweden. He has held positions with Barringer Research (Canada), 
Tetron Mineracao S/A (Brazil) LKAB Exploration (Sweden), North Star Diamonds AB 
(Sweden) and was Head of Geochemistry for the SGU.

Anthony Charles Raby Scutt ACIS (aged 64) - Non-executive Director
Mr Scutt is a Chartered Secretary and a Certified Internal Auditor with the U.S.
Institute of Internal Auditors. He has 34 years of financial management 
experience with Shell International Petroleum and has worked in many parts of 
the world, including the Malagasy Republic, East and Central Africa, South 
Vietnam, Singapore, the Philippines, Gabon, and latterly as the Chief Internal 
Auditor of Shell UK. He then went on to become an investment analyst, writer and 
investor, and was one of the very first investors in, and supporters of, 
Beowulf. He is also a non-executive director of Starvest plc.

Edward Taylor (Aged 57) - Non-executive Director and Company Secretary
Mr Taylor has worked in various accounting, human resources, administration and
company secretary positions in the natural resources sector including for Hardy 
Oil and Gas, British Borneo Oil and Gas plc, LASMO (now AGIP (UK) plc and Angus 
& Ross PLC. Presently he has assignments for Yukos Services (UK) Ltd and Estelar
Resources PLC.

This announcement is not for release, distribution or publication in whole or in 
part in or into the United States, Japan or Australia. The information contained 
herein does not constitute an offer of securities for sale in the United 
States, Canada, Japan or Australia.

This announcement has been issued by the Company and is the sole responsibility 
of the Company and has been approved solely for the purposes of Section 21 of 
the Financial Services and Markets Act 2000 by Ruegg & Co Limited of 39 Cheval 
Place, London SW7 1EW.

This announcement does not constitute or form part of an offer, or any 
solicitation of an offer, for securities and any purchase of shares in the 
Company should only be made on the basis of information contained in the 
Admission Document. The price and value of, and income from, shares may go down 
as well as up. Persons needing advice should consult a professional adviser.

The information contained herein is not for publication or distribution in or 
into the United States. The materials do not constitute an offer of securities 
for sale in the United States, nor may the securities be offered or sold in the 
United States, nor may the securities be offered or sold in the United States 
absent registration or an exemption from registration as provided in the 
Securities Act of 1933, as amended, and the rules and regulations thereunder. 
There is no intention to register any portion of the offering in the United 
States or to conduct a public offering of securities in the United States.

The information contained herein shall not constitute an offer to sell or the 
solicitation of an offer to buy, nor shall there be any sale of the Securities 
referred to herein in any jurisdiction in which such offer, solicitation or 
sale would be unlawful prior to registration, exemption of registration or 
qualification under the securities laws of any such jurisdiction.

Ruegg & Co Limited ('Ruegg') is regulated in the United Kingdom by the Financial 
Services Authority and is acting solely for the Company in connection with 
Admission and no one else. Ruegg has been appointed as nominated adviser to 
the Company. Ruegg will not regard any other person as its client or be 
responsible to any other person for providing the protections afforded to 
clients of Ruegg nor for providing advice in relation to Admission. Ruegg is not 
making any representation or warranty, express or implied, as to the contents of 
this announcement. Ruegg accepts no liability whatsoever for the accuracy of any 
information or opinions expressed in this announcement or for the omission of 
any information.

Phillip Securities (UK) Limited ('Phillip Securities') is regulated in the 
United Kingdom by the Financial Services Authority and is acting solely for the 
Company in connection with Admission and no one else. Phillip Securities has 
been appointed as broker to the Company. Phillip Securities will not regard any 
other person as its client or be responsible to any other person for providing 
the protections afforded to its clients nor for providing advice in relation to 
Admission. Phillip Securities is not making any representation or warranty, 
express or implied, as to the contents of this announcement. Phillip Securities 
accepts no liability whatsoever for the accuracy of any information or opinions 
contained in this announcement or for the omission of any information.




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