Beowulf Mining plc - (AIM ticker: BEM)
website: www.beowulfmining.com



2009
Beowulf’s focus is on the exploration and development of mineral deposits in Northern Sweden, where it has five separate projects covering iron, gold, copper and uranium. With its shares now quoted on both AIM and Stockholm’s AktieTorget market, Beowulf’s most advanced project is its 100%-owned Ruoutevare iron titanium deposit, with a JORC compliant inferred resource of 140 million tonnes, grading 39.1% iron, 5.7% titanium dioxide, and 0.2% vanadium oxide. Production is targeted at 10 million tonnes of ore, for which Beowulf has obtained a letter of intent from the Chinese resource importer Hua Dong Corporation for shipment of eventual production.

Beowulf also owns the nearby Kallak magnetite project which has total target iron mineralisation of more than 120 million tonnes across two deposits at grades varying between 35-42% iron, as well as copper-gold-uranium interests at Ballek and Jokkmokk, and gold at Grundtrask. It has newly acquired the various Swedish licences previously held by Agricola Resources which included the Geddaur uranium-gold-silver licences adjacent to Ballek as well as regaining full control of the Ballek joint venture rights. Beowulf is now negotiating more favourable terms with its new partner, Australian Energy Ventures Limited.

2008
Beowulf Mining’s focus is on the exploration and development of mineral deposits in Northern Sweden, where it has five separate projects covering iron, gold, copper and uranium. With its shares now quoted on both the AIM and Stockholm’s AktieTorget markets, Beowulf’s most advanced project is the iron titanium Ruoutevare deposit, with a JORC compliant resource of 140 million tonnes, grading 39.1% iron, 5.7% titanium dioxide, and 0.2% vanadium oxide. The capital cost of bringing a mine to production is estimated at US$300 million, and an annual mined production is targeted at 23 million tonnes, or 10 million tones of ore.
Beowulf has other interests in copper-gold at Balleck and Jokmokk, gold at Grundtrask where drilling continues towards an estimated deposit of 500,000 oz, and magnetite at Kallak, all of which have seen progress in the past year. In addition, its Lulepotten copper-gold deposit has a JORC inferred resource of 43,000 tonnes of copper and 52,000 oz of gold.

2007
Beowulf’s focus is on the exploration and development of mineral deposits in Northern Sweden where its more recent activities have been focused on its Ruoutevare iron titanium deposit, its Grundtrask gold deposit, and its Ballek copper, gold and uranium prospect. Ruoutevare has a non-JORC compliant resource of 116 million tonnes, grading 38.2% iron, 5.6% titanium dioxide, and 0.17% vanadium oxide. Detailed geological mapping has suggested that the ore reserves could be increased significantly by the extra diamond drilling now being undertaken so as to make them JORC-compliant. The project scoping study is expected to be completed in 2008.

The drilling programme completed in early 2007 in Grundtrask returned gold grades of up to 5.2m at 4.28 g/t from the Southern gold structure; Beowulf are seeking a joint venture partner to continue exploration and development.

Meanwhile for Ballek, an earn-in agreement with Agricola Resources plc has been concluded whereby the latter was granted the option to acquire a 51% interest by undertaking a specific programme of survey and diamond drilling work by the end of 2008, with this interest to be increased to 70% in the event of further specific project expenditures.