Kallak North Exploitation Concession Update

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (“MAR”) (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Kurt Budge, Chief Executive Officer.

30 November 2017

Kallak North Exploitation Concession Update

Beowulf (AIM: BEM; Aktietorget: BEO), the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, has today been made aware of the response of the County Administrative Board for the County of Norrbotten (“CAB”) to the Swedish Government with regard to the award of an Exploitation Concession for Kallak North.

The Company understands that the CAB has not recommended the award of an Exploitation Concession for Kallak North. Beowulf are reviewing the response in detail and will update the market as and when appropriate.

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