29 February
2024
Beowulf Mining Plc
("Beowulf" or the
"Company")
Parkijaur nr 8 Exploration Permit
Awarded
Beowulf (AIM: BEM; Spotlight: BEO),
and its wholly owned Swedish subsidiary Jokkmokk Iron Mines AB
("Jokkmokk Iron"), are pleased to announce the award of the
exploration permit Parkijaure nr 8. Parkijaure nr 8 is
approximately 2,440 hectares in size and is situated south of the
Kallak project and immediately to the south and east of the
Company's existing Parkijaure nr 6 exploration permit (see Figure
1).
Figure 1. Jokkmokk Iron
exploration permit areas.
The Parkijaure nr 8 exploration
permit is prospective for iron ore mineralisation similar to the
deposits defined at Kallak. Processing and interpretation of
historic ground magnetic data has identified a number of extensive
and strongly magnetic anomalies up to four kilometres in strike
length that are believed to host iron ore mineralisation. One
historic diamond drillhole, BH72704 by Geological Survey of Sweden
in 1972, has been reported from the Akkihaure magnetic
anomaly in the southernmost part of the permit averaging 25 per
cent iron content. While Jokkmokk Iron has not been able to locate
the original drill log and assay data to confirm the extension of
the iron ore mineralisation in BH72704, the reported grades are
encouraging and highlight the potential for significant iron ore
mineralisation in addition to the known Kallak iron ore
deposits.
The Parkijaure nr
8 exploration permit was issued with permit
identification number 2024:030 according to the Minerals Act
(1991:45) by the Mining Inspectorate of
Sweden ("Bergsstaten"). The exploration permit remains
valid from 27 February 2024 until 27 February 2027 and gives the
exclusive right for the Company to undertake exploration work
within the granted area in order to demonstrate the mineral
potential. The terms of Parkijaure nr 8 are standard for
exploration permits with the Company being required to submit a
work plan prior to drilling and other exploration activity,
reaching agreements with landowners to undertake activity and
providing compensation for any impacts caused by this exploration
activity.
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
About Beowulf Mining plc
Beowulf Mining is a mining company
with main activities in exploration and development in Sweden,
Finland and Kosovo. Beowulf's portfolio is diversified by
commodity, geography and stage of development of the
projects and consists primarily of iron ore, graphite,
gold and base metals. Beowulf Mining is headquartered in London,
England.
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.