Ann: December 2020 Quarterly Activities Report, page-2

Wow..
Initial aircore drilling south of Black Cat intercepted significant gold in primary weathered rock under the palaeochannel (now named Big Cat).

Excellent news.. nice surprise

HIGHLIGHTS
PRODUCTION
 Gold production at Jaurdi in the December Quarter was 7,870 ounces, approximately 12% above
the high‐end guidance for the quarter
 Gold sales for the quarter were 8,212 ounces at an average sale price of $2,518/oz for sale
receipts of $20.68 million (2,000 ozs delivered into the hedge book at an average price of
$2,526/oz)
 Cash costs (excluding royalties) of A$929/oz
 Beacon had cash of $15.31 million and 948 ozs of gold on hand as at 31 December 2020
 Ore stockpiles at 31 December 2020 contained 24,000 ounces of gold

FINANCIAL AND CORPORATE
 Debt of $18.0 million (in the form of debentures) was repaid on 12 October 2020, one year ahead
of the repayment due date
 The Company is now debt free
 Cash at the end of the Quarter was A$15.31 million (A$16.17 million on hand and 932 ozs of gold
on hand at 28 January 2021)
 Capital expenditure for the quarter totalled A$1.8 million which included the capital works, plant
and equipment purchases and TSF construction and planning

EXPLORATION
 Initial aircore drilling south of Black Cat intercepted significant gold in primary weathered rock under
the palaeochannel (now named Big Cat). Over 500 metres of potential strike and potential source
of primary mineralisation identified for the Lost Dog palaeochannel deposit. In‐situ intercepts
include:
 BCW032 11 metres @ 1.56 g/t Au from 50 metres
 BCW063 5 metres @ 2.22 g/t Au from 47 metres
 BCW033 2 metres @ 2.30 g/t Au from 49 metres
 BCW058 2 metres @ 2.29 g/t Au from 73 meters
 BCW063 5 metres @ 2.22 g/t Au from 47 metres
Intercepts from within the palaeochannel include:
 BCW048 5 metres @ 9.87 g/t Au from 52 metres
o Including 1 metre @ 43.20 g/t Au from 56 metres
 BCW063 1 metre @ 8.24 g/t Au from 46 metres
 13,446m of AC drilling and 920m of RC drilling completed during the quarter