BEACON IS GRANTED HIGHLY PROSPECTIVE POLYMETALLIC COPPER...

BEACON IS GRANTED HIGHLY PROSPECTIVE POLYMETALLIC COPPER EXPLORATION
LICENCES IN TIMOR‐LESTE

HIGHLIGHTS:
 Beacon Minerals has now been granted highly prospective polymetallic copper exploration licences in Timor Leste totalling 300km2
 The concessions occur in two contiguous groups referred to as the ‘Baucau’ and ‘Ossu’ concessions and contain multiple polymetallic copper prospects.
 At Ossu, a historical occurrence of chalcopyrite‐rich boulders associated with serpentinites has returned rock chip sample grades averaging 4.87% Cu, 0.28% Co and 1.48 g/t Au with peak values of up to 12% Cu, 0.88% Co and 2.08 g/t Au
 At Baucau, a recent reconnaissance program has discovered multiple occurrences of polymetallic copper mineralisation at surface at the ‘Quarry’ and ‘Vermasse’ prospects with assay results pending
 The occurrences at Ossu and Baucau represent exciting targets that have the potential to develop quickly with systematic exploration
 An exploration program including mapping, ground magnetic and electromagnetic (EM) surveying will commence in May and assist with drill targeting
 Southern Geoscience Consultants (SGC) have been engaged to assist with the planning and implementation of the geophysical surveying
 The Timor‐Leste acquisitions position Beacon as a first mover in unexplored, highly prospective terrain with district‐scale polymetallic copper discovery potential

Beacon Minerals Limited (ASX: BCN) (Beacon or the Company) is pleased to announce that it has now been granted 6 exploration licences in Timor Leste. Beacon also advised that it has entered into a non‐binding term sheet with Murak Rai Timor, E.P., a state‐owned mining company established in Timor‐Leste in relation to a joint venture pertaining to six highly prospective polymetallic copper concessions in Timor‐Leste. The combined concessions represent a total landholding of approximately 300km2.

The concessions were acquired via a public tender through the National Petroleum and Minerals Authority (ANPM) in what has been the first public release of mineral licences in Timor‐Leste since independence. The execution of the non‐binding term sheet for a joint venture in relation to the concessions represents the culmination of sustained interest and effort in Timor‐Leste by Beacon
dating back to initial reconnaissance visits in 2016.
The approximately 50km2 concessions occur in two contiguous groupsreferred to each asthe ‘Baucau’ and ‘Ossu’ concessions and lie approximately 90km ESE of Dili (Figure 2)