Beowulf Mining Plc (Beowulf) is engaged in the exploration for iron, copper, gold and uranium deposits. As of December 31, 2011, the Company had 10 exploration projects in Northern Sweden primarily prospecting for iron, copper, gold and uranium. Its Kallak iron ore project is located in the Jokkmokk municipality north of the Arctic Circle. As of December 31 2011, the project covered a total area of approximately 161.67 square kilometers, comprising seven separate licenses, including Kallak nr1, Kallak nr2, Kallak nr3, Parkijaure nr2, Parkijaure nr3, Parkijaure nr4 and Nautijaur nr1. All of these licenses are held by the Company�s wholly owned subsidiary, Jokkmokk Iron Mines AB (JIMAB). Its Ruoutevare iron-titanium project consists of one exploration permit covering a total area of 8.5 square kilometers located in the municipality of Jokkmokk. The Ballek copper-gold project consists of four exploration permits, Ballek nr2, Ballek nr3, Ballek nr4 and Ballek nr5.