Update

Beowulf Mining PLC
08 August 2005


                               BEOWULF MINING PLC

                                  NEWS RELEASE

   Reports on Beowulf Mining plc's Jokkmokk, Ballek and Ussalahti projects in
                                Northern Sweden.

London 8 August 2005:- The directors of Beowulf Mining plc ('Beowulf') make the
following announcement:

1.     Jokkmokk, consisting of the Majves 1 and 2, Tjaula and Karvo
exploration permits. On August 5th 2005 Beowulf received notice from Phelps
Dodge Exploration Sweden AB of termination of the Option Agreement between the
companies. No reason for the termination was given. Beowulf is in receipt of
assays from the last phase of drilling in April and May and is currently
assessing the results in- house.

Beowulf now intends to review the exploration data and depending on its review
may continue the drilling in its own right or seek another joint venture partner
for the area.

2.     Ballek, consisting of the Ballek 2 and 3 exploration permits issued in
May 2005. These permits are considered by the directors to be prospective for
iron oxide copper gold deposits which are sometimes rich in uranium.
Beowulf has been checking the radioactivity of numerous drill cores from Ballek,
drilled in the 1950's and 1960's, and freely accessible from the Geological
Survey of Sweden. Having identified from these cores a zone enriched in uranium,
Beowulf carried out ground surveys in July 2005 and discovered uranium rich
boulders over this zone. In addition another seven uranium rich boulders were
found by Beowulf over other areas of the permits. These uranium rich boulders
are in areas previously known for copper gold mineralization and a high gravity
anomaly.

The Ballek exploration permits have been visited in the past month by two major
mining companies and one London stockbroker.

3.     Ussalahti, consisting of Ussalahti 1, 2 and 3 exploration permits. The
permits are considered by the directors to be prospective for stratiform
copper-gold mineralization.

Helicopter assisted geological exploration studies have been conducted in the
past month and copper boulders have been located over a previously undrilled
geophysical target. A representative of a major mining company is visiting in
August and will investigate the possibility of assisting Beowulf with the
intended drilling of the target.

4.     Beowulf considers it has sufficient funds in hand to pursue its current
planned exploration studies and drilling plans without interruption, and ahead
of new partner associates being determined.


For further information contact :-

Dr Robert Young, Beowulf Mining plc Tel. [phone]

Mr Gavin Burnell, Ruegg & Co. Ltd Tel. [phone]

Mr Gary Middleton, St. Swithins PR Tel. [phone]

Mr. Nick Bealer, King & Shaxson Tel. [phone]



                      This information is provided by RNS
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