THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN BEOWULF MINING PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON INCONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF BEOWULF MINING PLC.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation ("MAR") (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018 (as amended). Upon the publication of this announcement, through the agency of the contact person of the Company set out below, this inside information is now considered to be in the public domain.

12 March 2024

Beowulf Mining plc

("Beowulf" or the "Company")

Postponement of Subscription period

Beowulf (AIM: BEM; Spotlight: BEO), informs that the subscription period in the Company's upcoming rights issue of Swedish Depository Receipts ("SDR") ("Rights Issue") will be postponed by one day. The subscription period is therefore expected to start on 14 March 2024, instead of the earlier expected 13 March 2024. Please see an updated indicative timetable below.

Updated summarised indicative timetable for the Rights Issue

General Meeting 1:00 p.m. (GMT) on 5 March 2024
Results of General Meeting announced 5 March 2024
through RNS
Record date for the share sub-division 6.00 p.m. (GMT) on 5 March 2024
Admission and dealings in sub-divided 8.00 a.m. (GMT) on 6 March 2024
shares
The last day of trading in SDRs with 6 March
preferential rights
The first day of trading in SDRs 7 March
without preferential rights
Rights Issue Record Date for the 8 March
Rights Issue
Time and date from which conversion of 8.00 a.m. (Stockholm time) on 11 March
SDRs into Ordinary Shares (and vice
versa) is permitted again
Publication of the Prospectus 13 March
Start of the subscription period for 14 March
the Rights Issue and trading in the
Swedish Subscription Rights and Paid
Subscribed SDRs
Last day of trading in the Swedish 25 March
Subscription Rights
Subscription period for the Rights 28 March
Issue ends
Announcement of the results of the on or around 3 April
Rights Issue
Announcement of the results of the on or around 3 April
Capital Raise
Last day of trading in the Paid on or around 17 April
Subscribed SDRs
Record date for conversion of the Paid on or around 19 April
Subscribed SDRs into New SDRs
Swedish Admission and commencement of on or around 19 April
dealings in the New SDRs

Updated summarised indicative timetable for the UK Issue

Time and date from which conversion of 6 March
Ordinary Shares into SDRs (and vice versa)
is permitted again
Start of the subscription period for the UK 14 March
Issue
Subscription period for the UK Issue ends 2.00 p.m. (GMT) on 28 March
Announcement of the results of the Capital on or around 3 April
Raise
AIM Admission and commencement of dealings 8.00 a.m. (BST)on 18 April
in the New Ordinary Shares
New Ordinary Shares credited to CREST stock after 8.00 a.m. (BST)on 18 April
accounts (uncertificated Shareholders only)
Posting of certificates for the New Ordinary on or around 2 May
Shares (certificated Shareholders only)

Advisers

In relation to the Rights Issue, the Company has engaged Evli Plc as Swedish financial adviser, Bird & Bird Advokat KB as Swedish legal advisor and Aqurat Fondkommission AB as Swedish issuing agent.

Enquiries:

Beowulf Mining plc

Ed Bowie, Chief Executive Officer                       ed.bowie@beowulfmining.com

Evli Plc

(Swedish financial adviser)

Mikkel Johannesen / Lars Olof Nilsson                Tel: +46 (0) 73 147 0013

SP Angel

(Nominated Adviser & Joint Broker)        

Ewan Leggat / Stuart Gledhill / Adam Cowl          Tel: +44 (0) 20 3470 0470

Alternative Resource Capital

(Joint Broker)

Alex Wood                                                        Tel: +44 (0) 20 7186 9004

BlytheRay        

Tim Blythe / Megan Ray                                     Tel: +44 (0) 20 7138 3204

Cautionary Statement

Statements and assumptions made in this document with respect to the Company's current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Beowulf. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to , (i) changes in the economic, regulatory and political environments in the countries where Beowulf operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) Beowulf's continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) metal prices, particularly as regards iron ore. In the light of the many risks and uncertainties surrounding any mineral project at an early stage of its development, the actual results could differ materially from those presented and forecast in this document. Beowulf assumes no unconditional obligation to immediately update any such statements and/or forecast.