7 March 2024

Beowulf Mining plc

("Beowulf" or the "Company")

Project Director appointed for the Kallak Iron Ore Project

Beowulf (AIM: BEM; Spotlight: BEO), and its wholly owned Swedish subsidiary Jokkmokk Iron Mines AB ("Jokkmokk Iron"), are pleased to announce that the newly appointed Project Director for the Kallak Iron Ore Project ("Kallak" or the "Project") will be Dmytro Siergieiev, who will commence in the role on 1 May 2024.

Originally from Ukraine, Dmytro has been residing in Northern Sweden since 2007 and is fluent in Swedish. He holds an MSc in Hydrogeology from Kyiv National University, an MSc in Geochemistry, and a PhD in Applied Geology from the Luleå University of Technology. Since 2015, Dmytro has been working at Sweco, the leading architecture and engineering consultancy, focusing solely on mine environment projects in Scandinavia and internationally. During this time, he has served as assignment leader, business development manager, and most recently team leader for Sweco's mine environment unit. Within this role, Dmytro has overseen a broad range of assignments focused on mine development, operation and permitting.

Dmytro is an accomplished project manager with a strong technical background and excellent interpersonal skills. His immediate tasks will be to oversee and propel the ongoing Pre-Feasibility Study and environmental work in preparation for the environmental permitting process.

Ed Bowie, Chief Executive Officer of Beowulf, commented:

"Dmytro has an excellent academic and professional track-record and is an ideal candidate to advance Kallak. He brings dynamism and ambition, and I am confident he will be a great asset for both the Project and Company.

"As Project Director, Dmytro is a key hire for Beowulf and we look forward to working with him and building a team of professionals around him."

Enquiries:

Beowulf Mining plc

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

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.