RESERVES AND RESOURCES

Ore Reserve and Mineral Resource

Beadell has mineral resources of approx. 3.9Moz and reserves of approx. 1.6Moz, with over 2,500km² of highly prospective contiguous gold exploration tenements in Brazil.

Ore Reserves

The Company’s Proved and Probable Ore Reserves as at 31 December 2016 was 28.2 million tonnes @ 1.74 g/t gold for 1.6 million ounces including underground reserves of 3.0 million tonnes @ 3.61 g/t gold for 345,000 ounces and stockpiles of 4.4 million tonnes at 0.69 g/t gold for 98,000 ounces. Open pit reserves are estimated using a gold price of US$1,100 per ounce and underground reserves a gold price of US$1,120 per ounce.

As at 31 December 2016 (scroll left and right to view full table)

BrazilProved ReserveProbable ReserveTotal Ore Reserve

Cut-off

g/t

Tonnes (‘000)Grade

g/t Au

Ounces (‘000)Tonnes (‘000)Grade

g/t Au

Ounces (‘000)Tonnes (‘000)Grade

g/t Au

Ounces (‘000)
Urucum Open Pit Oxide3271.22131491.2264761.22190.7
Urucum East Open Pit Oxide1501.7281501.7280.7
Tap AB Open Pit Oxide2,4861.741393,1211.801805,6071.773190.6
Tap C Open Pit Oxide4001.03132060.9666061.01200.6
Duckhead Open Pit Oxide20.90014.19031.5500.8
Total Oxide3,2151.601653,6271.722016,8421.66366
Urucum Open Pit Primary4,6971.632465,3641.7630310,0621.705490.8
Urucum East Open Pit Primary161.501161.5010.7
Urucum Underground Primary2,9723.613452,9723.61345
Tap AB Open Pit Primary1,6181.71891,6381.80953,2551.761840.8
Tap C Open Pit Primary2371.29103981.42186351.37280.8
Duckhead Open Pit Primary322.372212.512532.4241.0
Total Primary6,5851.6434810,4092.2876316,9932.031,111
Urucum Open Pit Total5,0241.602595,5131.7430910,5381.68568
Urucum East Open Pit Total1661.7091661.709
Urucum Underground Total2,9723.613452,9723.61345
Tap AB Open Pit Total4,1041.732284,7591.802758,8621.76503
Tap C Open Pit Total6371.13236041.26241,2411.1948
Duckhead Open Pit Total352.273212.552562.384
Total Oxide and Primary9,8001.6351314,0362.1496423,8351.931,477
Open Pit Stockpile2,5970.70582,5970.70580.5
Spent Ore Stockpile1,7840.68391,7840.68390.5
Total Stockpiles4,3810.69984,3810.6998
Total Brazil14,1801.3461014,0362.1496428,2161.741,575

Mineral Resources

The Company’s Measured, Indicated and Inferred Mineral Resources as at 31 December 2016 was 67.0 million tonnes @ 1.82 g/t gold for 3.9 million ounces.

As at 31 December 2016 (scroll left and right to view full table)

BrazilMeasuredIndicatedInferredTotal

Lower Cut-off

g/t

Tonnes (‘000)Grade g/t AuOunces (‘000)Tonnes (‘000)Grade g/t AuOunces (‘000)Tonnes (‘000)Grade g/t AuOunces (‘000)Tonnes (‘000)Grade g/t AuOunces (‘000)
Urucum Surface Oxide7131.13266091.2925960.9631,4181.19540.5
Tap AB Surface Oxide2,9802.051974,5591.942851,2281.58628,7681.935440.5
Tap C Surface Oxide5660.97183120.909880.7029660.92290.5
Tap D Surface Oxide161.0311351.135891.4242411.23100.5
Duckhead Surface Oxide894.24121401.748601.5632892.47231.0
Total Oxide4,3651.802535,7561.793321,5621.487511,6821.76659
Urucum Surface Primary5,8221.532877,3951.704054941.432313,7111.627140.5
Urucum Underground Primary2634.03342,6604.213608,8102.1560911,7332.661,0041.2
Tap AB Surface Primary2,1551.781234,2331.812472,8041.621469,1921.755160.5
Tap AB Underground Primary4,2162.853864,2162.853861.2
Tap C Surface Primary4821.22191,9801.22781,0441.35453,5071.261420.5
Tap D Surface Primary320.891110.860111.711541.0420.5
Duckhead Surface Primary1152.2882642.26192621.81156412.08431.0
Total Primary8,8701.6647216,5432.091,10917,6412.161,22543,0542.032,807
Urucum Surface Total6,5351.493138,0041.674305901.362615,1291.587680.5
Urucum Underground Total2634.03342,6604.213608,8102.1560911,7332.661,0041.2
Tap AB Surface Total5,1351.943208,7921.885324,0321.6120817,9601.841,0600.5
Tap AB Underground Total4,2162.853864,2162.853861.2
Tap C Surface Total1,0481.09372,2921.18871,1331.30474,4731.191710.5
Tap D Surface Total490.9411461.1151001.4552951.20110.5
Duckhead Surface Total2053.14214042.08273221.76189302.20661.0
Total Oxide and Primary13,2351.7072522,2992.011,44119,2022.111,30054,7361.973,466
High Grade Stockpile6031.08216031.08210.5
Low Grade Stockpile1,9770.62401,9770.62400.5
Spent Ore Stockpile1,7210.65361,7210.65360.5
Marginal Ore Stockpiles1,5170.43211,5170.43210.3
Total Stockpiles5,8190.631185,8190.63118
Tartaruga6,4511.633376,4511.633370.5
Total Brazil19,0541.3884322,2992.011,44125,6531.991,63767,0061.823,921 

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