Ann: Quarterly Activities and Cashflow Report, page-2

 Record gold production at Jaurdi in the March Quarter of 6,905 ounces
 5,033 ounces sold during the quarter at an average realised sale price of A$2,346 for A$11.8
million in cash receipts at cash cost (excluding royalties) of A$1,080/oz
 Cash cost, excluding royalties, is expected to fall next quarter to A$1,000/oz. The Company
mined at significantly higher than required volumes this quarter to facilitate the
establishment of a new in pit tailings facility
 The increase in mining activities has seen ore stockpiles grow to 440,000 LCM, containing
31,000 ounces of gold
 Production from Jaurdi expected to be 6,900 +/‐ 200 ozs for the June 2020 quarter
FINANCIAL AND CORPORATE
 Bullion on hand and in transit of 1,029 ounces at 31 March 2020
 Capital expenditure for the quarter totalled A$3.0 million in relation to tenement acquisitions,
capital works, plant and equipment and exploration
 Cash at the end of the Quarter was A$8.5 million (A$10.2 million on hand as at 28 April 2020)
EXPLORATION
 Phase 1 and Phase 2 drilling programs at Panther completed with outstanding exploration
results, this drilling will add ounces to the Resource Inventory at Panther
OTHER

 Site visit to Jaurdi by Timor‐Leste VIP Delegation
Beacon Minerals Limited (ASX:BCN) (Beacon or the Company) is pleased to present its Quarterly Activities
Report for the period ended 31 March 2020.
OUTLOOK
 Beacon’s production costs were higher than previously forecast, as the Company mined at
significantly higher than required volumes to facilitate the establishment of a new in pit tailings
facility.

 Beacon’s exploration for the June 2020 quarter will include resource development drilling at the
Panther prospect with Phase 3 RC/DD drilling.

During the next quarter Beacon will also begin grade control drilling in Panel 2 at Lost Dog.