Beowulf Mining plc and Jokkmokk Iron Mines AB provided an update on the Gallok or Kallak Iron Ore project. Stakeholder interaction: Positive engagement with delegation from UNESCO ("United Nations Educational, Scientific and Cultural Organization") to discuss the development of Gallok in the context of the Laponia World Heritage Site, Initiation of meetings with local stakeholders including landowners and Sami villages focused on developing collaborative approach to future activity, Environmental workstreams: Hydrogeology test-work initiated with ramp-up in activity in coming weeks, Continuation of baseline studies including bird surveys, water sampling and noise monitoring, Technical activity: Metallurgical test-work nearing completion; Open pit geotechnical field work completed with laboratory analysis underway; In-fill drilling planned for summer period primarily to upgrade Inferred resource to Measured and Indicated category, Trade-off study on location of tailings management facility completed with initial TMF design work underway, Logistics and transport study initiated with initial trade-off nearing completion. Permitting: Preparations are underway for the Environmental Impact Assessment and environmental permit application.

While no specific timelines have been given, the decision from the Supreme Administrative Court is anticipated within the coming weeks.