Beowulf Mining plc announced that CEO, Kurt Budge, is stepping down from the Company with immediate effect to pursue other business interests. Kurt Budge has been with the Company for nine years and has been instrumental in the its growth, including the award of the Exploitation Concession for Kallak North. Kurt Budge will be replaced by Johan Röstin who will serve as interim CEO until a permanent successor is appointed.

The board is confident in this interim solution and Johan's ability to lead the Company during this transitional period. Beowulf remains committed to its mission and values and the Company is looking forward to continuing its work to provide sustainable mining operations at Jokkmokk Iron (Sweden), Grafintec (Finland) and Vardar Minerals (Kosovo).