Issue of Equity

BEOWULF MINING PLC                               

                           Issue of Equity                                

The board of Beowulf Mining plc ('Beowulf') is pleased to announce the exercise
of 150,000 warrants over new ordinary shares of £0.01 each in the capital of
the company at an exercise price of £0.01 per share.

Following the issue of the resulting shares the issued share capital of the
Company will be 66,548,247. Application will be made for the new shares to be
admitted to trading on AIM on 25 July 2007.

For further information contact:

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

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

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

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