New Drill Program Begins

Beowulf Mining PLC
07 December 2006



   Beowulf begins new drill program for gold at Grundtrask, N. Sweden


London: 7 December, 2006: Beowulf Mining PLC (AIM: BEM), the AIM listed mineral
exploration company is pleased to announce that diamond drilling commenced today
on the company's 100 % owned Grundtrask gold project area in the Skellefte
Mining District of Northern Sweden.


This drill programme is scheduled to complete a minimum of 500m of core drilling
testing the continuation along strike of the 'Central Gold Zone', where previous
drilling by the company has identified gold-bearing structures over substantial
widths, (for example drill-hole 06002, 5.2m @ 4.28g/t Au from 5.8m depth;
drill-hole 06003, 7.6m @ 2.43g/t Au from 10.10m depth; drill-hole 05004, 13.95m
@ 1.94g/t Au from 27.85m depth).

New drill sites have been selected from results of recently completed ground
geophysical surveys (magnetic and very low frequency electromagnetics (VLF))
conducted by Beowulf and integrating the results with the projected trace of the
mineralisation already intersected.


It is anticipated that the present drill program will be completed in a two-week
period.


The structure hosting the Central Gold Zone is at least 750m in length with
widths of up to 25m consisting of a central higher grade gold core surrounded by
a lower grade halo. It is open along strike and at depth. Previous drilling has
encountered mineralisation at shallow depths and it is interpreted to be
sub-cropping along most of its extension under a relatively thin cover (12
metres or less) of glacial till and sediments making the deposit potentially
amenable to open pit mining.



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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