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Angel Mining, Beowulf Mining news briefs

Contributed by Fox-Davies Capital

Angel Mining PLC announced the publication of its Annual Report and Accounts for the year ended 29 February 2012. The loss for the year was $5,534,000, compared to a loss of $7,773,000 for the same period last year. At 29 February 2012, the Group's cash and bank balances amounted to $667,000 compared to $441,000 at 28 February 2011. The company achieved first gold sale in August 2011 and by 31 July 2012 had sold 7,569 ounces of gold at an average price of $1,668 per ounce. It continued development of the Black Angel zinc/lead mine and completed the construction of the cable car, subject to final commissioning.

Beowulf Mining Plc announced assay results for the first nine holes at Kallak North with significant iron grades encountered. 4,314m has been drilled to date covering 16 holes in the 2012 Kallak North drill programme with significant high grades of iron mineralisation of up to 54.6% iron encountered at depth and at the southern extension of the Kallak North deposit.