31 October 2023

Beowulf Mining Plc

(“Beowulf” or the “Company”)

Renewal of exploration licence at 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 Jokkmokk Iron has been awarded exploration licence Kallak nr 101. The licence is a renewal of the previous exploration licence, Kallak nr 1, held by the Company and surrounds the Kallak exploitation concession, Kallak K nr 1, awarded in March 2022.

The Kallak nr 101 exploration licence area includes the