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ASX Release 22 January 2021 • • • • BCI MINERALS LIMITED DECEMBER 2020 QUARTERLY RESULTS STRONG EARNINGS AND MARDIE EARLY CONSTRUCTION Record quarterly Iron Valley EBITDA to BCI of A $ 10.0M from 1.6Mt shipments - Mardie debt funding – NAIF conditional approval for a A $ 450M loan Establishment of Mardie supporting infrastructure underway Mardie design optimisation work and approvals advanced • Achievement of 2,000 days without a lost time injury • Cash balance of A $ 78.5M and zero debt BCI Minerals Limited ( ASX : BCI ) ( ‘ BCI ' or the ' Company ' ) is pleased to present its quarterly activities report for the period ended 31 December 2020 . MARDIE SALT & POTASH PROJECT Mardie Site Activities Site activities underway at Mardie include establishment of the accommodation village , access roads , site communications , fuel storage , water bores and initial power supply facilities . Additional accommodation units have been delivered to the Mardie site for expansion of the existing 36 - bed village to 80 beds . The accommodation village expansion will facilitate the remainder of the early works program and construction of the larger construction village . Figure 1 : Accommodation Units Arriving at Mardie T +61 8 6311 3400 Level 2 , 1 Altona Street GPO Box 2811 E info@bciminerals.com.au West Perth WA 6005 West Perth WA 6872