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ASX ANNOUNCEMENT 27 October 2021 SEPTEMBER 2021 QUARTERLY REPORT BEACON MINERALS LIMITED HIGHLIGHTS PRODUCTION 7,275 ounces of gold produced in the September 2021 quarter • A record 166,211 dry tonnes milled in the September 2021 quarter Gold sales for the quarter were 5,690 ounces at an average sale price of $ 2,443 / oz for sale receipts of $ 13.90 million Cash costs ( excluding royalties ) of A $ 1,126 / oz Beacon had cash of $ 11.41 million and 2,373 ozs of bullion on hand / gold in transit at the end of the quarter Ore stockpiles at 30 September 2021 estimated to contain 20,400 ounces of gold FINANCIAL AND CORPORATE The Company is debt free • Fully franked dividend of $ 0.00125 per share declared Cash at the end of the Quarter was A $ 11.41 million Capital expenditure for the quarter totalled A $ 1.487 million which included capital works , plant and equipment purchases , gravity circuit / gold room installations , the new Jaurdi TSF and exploration • Beacon acquired MacPhersons Reward Project EXPLORATION • • During the Quarter 162 holes for 7,268m of Aircore drilling was completed at the Jaurdi Gold Project Best new intercepts from drilling include : • BSRC002 4 metres @ 3.54 g / t Au from 50 metres ( Black Cat South ) • • BSRC005 • BSRC018 • HP21AC054 15 metres @ 0.96 g / t Au from 85 metres ( Black Cat South ) 3 metres @ 4.39 g / t Au from 42 metres to EOH ( Black Cat South ) 3 metres @ 4.10g / t Au from 33 metres ( Heine's ) One metre assays have been returned for previously released drill holes . Best intercepts include : • B21RC001 • B21RC002 • L21RC003 • LS21RC001 • JB21B081 • JB21B090 • JB21B091 11 metres @ 2.76 g / t Au from 55 metres ( Big Cat ) 10 metres @ 1.31 g / t Au from 57 metres ( Big Cat ) 13 metres @ 2.45 g / t Au from 26 metres ( Lynx ) 11 metres @ 1.87 g / t Au from 77 metres . ( Lynx South ) 5 metres @ 2.13 g / t Au from 53 metres ( Big Cat ) 6 metres @ 4.11 g / t Au from 80 metres ( Big Cat ) 3 metres @ 4.93 g / t Au from 58 metres ( Big Cat ) Exploration work has commenced at the MacPhersons Project prospects , starting with historical data interrogation , validation and fieldwork . BEACON MINERALS LIMITED ACN 119 611 559 Registered Address 144 Vivian Street , Boulder , WA 6432 Website www.beaconminerals.com Phone 08 9093 2477 1