Progress Report

Beowulf Mining PLC
09 November 2005


                               BEOWULF MINING plc

                                  News Release

 Progress Report on the Ballek Copper Gold Deposit Arjeplog County of Northern
                                     Sweden

London : 9 November 2005 : Beowulf Mining plc ('Beowulf' or 'the Company') is
pleased to report progress on the Ballek claims which cover 100 square
kilometres in the Arjeplog County of northern Sweden.

Analysis of a selected drill core in the Lulepotten copper gold deposit, has
given 9 metres of 2.08% copper and 3.69 grams per tonne of gold between 98 and
107m of drill hole number 64206 (a one metre sample gave 20.5 grams per tonne of
gold). A 70 metre mineralised section of the same hole, between 50m to 120m,
contained 0.42% copper and 0.59 grams per tonne of gold. The hole was drilled at
a 65 degree angle to the east.

This mineralised zone is seen to be above the zone responsible for the large
gravity feature, which is shown in the 3-dimensional model on the Company's web
site www.beowulfmining.com/news.

The Ballek claims contain the copper gold Lulepotten deposit, which was drilled
between 1960-71 by the Geological Survey of Sweden, who estimated the deposit
contained 5.1 million tonnes of 0.73% copper, 0.25 grams per tonne of gold and 7
grams per tonne of silver. This resource estimate is historical and does not
conform to the Canadian NI 34-101 or Australian JORC resource definitions.

The Lulepotten deposit is only one of several copper gold zones in the Ballek
area. The zones contain sulphide mineralisation composed of chalcopyrite,
bornite, chalcocite with abundant iron oxides.

The Company is examining ways in which advanced geophysical techniques can be
applied to define more specific drilling targets on the Ballek project area.

Commenting on the results, Dr. Robert Young, Chairman of Beowulf said 'the
results improve the existing gold grades at Lulepotten and they suggest that the
mineralisation overlies the large gravity feature which attracted Beowulf to the
Ballek area. We are pleased with progress made and look forward to updating the
market further in the near future'.

Contact:

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

Gavin Burnell
Ruegg & Co Limited Tel: [phone]

Nick Bealer
King & Shaxson Tel: [phone]

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


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