Further drilling

Beowulf Mining PLC
02 October 2006


PRESS RELEASE


                             BEOWULF MINING REPORTS
       FURTHER DRILLING AT THE GRUNDTRASK GOLD PROSPECT, NORTHERN SWEDEN.

London 2 October: Beowulf Mining PLC (AIM:BEM), the AIM listed mineral
exploration company is pleased to announce that a further drilling programme is
to begin in October on the company's 100%-owned Grundtrask gold project in the
Skellefte Mining District, N. Sweden. This resource drilling programme will be
focussed on the southern extension of the 'Central Gold Zone' where high gold
grades recently have been reported from drilling by Beowulf. Further extensions
of this zone are to be tested.


The gold mineralisation, which presently is known to extend for over 750 m, is
open both along strike and at depth.


Detailed geological logging of drill cores has identified extensive alteration
zones and shearing associated with the gold mineralisation. In order to obtain
information on how the gold occurs within the mineralised material, selected
samples of drill core with high gold grades have been submitted for
mineralogical studies at the Natural History Museum, London.


Prior to starting the drill programme detailed geophysical (magnetic and VLF)
surveys will be completed across the indicated extensions of the mineralisation.
These surveys, which will assist with locating the drill sites, will start
shortly and should be completed in the second week of October.


For further information :-

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

Gavin Burnell
Ruegg & Co. Limited Tel: [phone]


Nick Bealer
King & Shaxson Tel: [phone]


Charles Dampney
City Capital Securities Limited Tel: [phone]


Gary Middleton
St Swithin's Public Relations Tel: [phone]


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