RESERVES AND RESOURCES

Ore Reserve and Mineral Resource

Beadell has mineral resources of approximately 3.54 million ounces and reserves of approximately 1.26 million ounces, 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 30 June 2018 was 21.7 million tonnes @ 1.81 g/t gold for 1.26 million ounces including underground reserves of 2.4 million tonnes @ 3.64 g/t gold for 278,000 ounces and stockpiles of 2.8 million tonnes at 0.66 g/t gold for 59,000 ounces.

As at 30 June 2018 (scroll left and right to view full table)

Brazil Proved Reserve Probable Reserve Total 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 Oxide 177 1.15 7 122 1.14 4 299 1.14 11 0.7
Urucum East Open Pit Oxide 151 1.71 8 151 1.71 8 0.7
Tap AB Open Pit Oxide 1,450 2.20 102 1,723 1.74 97 3,173 1.95 199 0.6
Tap C Open Pit Oxide 206 0.95 6 168 0.85 5 374 0.90 11 0.6
Total Oxide 1,832 1.96 155 2,165 1.64 114 3,998 1.78 229
Urucum Open Pit Primary 4,311 1.63 227 5,504 1.76 311 9,815 1.70 537 0.8
Urucum East Open Pit Primary 16 1.50 1 16 1.50 1 0.9
Tap AB Open Pit Primary 952 2.14 66 1,094 1.77 62 2,047 1.95 128 0.8
Tap C Open Pit Primary 248 1.34 11 401 1.40 18 648 1.38 29 0.8
Total Primary 5,511 1.71 303 7,015 1.74 392 12,525 1.72 695
Urucum Open Pit Total 4,488 1.62 233 5,626 1.74 315 10,114 1.69 548
Urucum East Open Pit Total 167 1.69 9 167 1.69 9
Tap AB Open Pit Total 2,402 2.18 168 2,818 1.76 159 5,220 1.95 327
Tap C Open Pit Total 453 1.16 17 569 1.24 23 1,022 1.20 40
Total Oxide and Primary 7,343 1.77 418 9,180 1.71 506 16,523 1.74 924
Open Pit Stockpile 1,994 0.66 42 1,994 0.66 42 0.5
Spent Ore Stockpile 307 0.61 6 307 0.61 6 0.5
ROM Expansion Stockpile 470 0.70 11 470 0.70 11 0.5
Total Stockpiles 2,771 0.66 59 2,771 0.66 59
TOTAL TUCANO OPEN PIT & STOCKPILES 10,115 1.47 477 9,180 1.71 506 19,294 1.58 983
Urucum Underground Primary Total* 2,378 3.64 278 2,378 3.64 278
Urucum Underground Primary Total* 2,378 3.64 278 2,378 3.64 278
TOTAL BRAZIL 10,115 1.47 477 11,558 2.11 784 21,672 1.81 1,261

*In order to align with NI43-101 reporting requirements, the Urucum Underground reserves are being reported here without the inclusion of the 67kt of inferred material. Please, see ASX announcement dated 4 December 2018 for further clarification.

Mineral Resources

The Company’s Measured, Indicated and Inferred Mineral Resources as at 30 June 2018 was 59.2 million tonnes @ 1.86 g/t gold for 3.54 million ounces.

As at 30 June 2018 (scroll left and right to view full table)

Brazil Measured Indicated Inferred Total

Lower 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) Tonnes (‘000) Grade g/t Au Ounces (‘000)
Urucum Open Pit Oxide 360 1.07 12 278 1.03 9 69 0.96 2 707 1.04 24 0.5
Urucum East Open Pit Oxide 200 1.88 12 9 1.58 0 209 1.87 13 0.5
Tap AB Open Pit Oxide 1,854 2.23 133 3,376 1.79 195 663 1.26 27 5,893 1.87 354 0.5
Tap C Open Pit Oxide 370 0.91 11 284 0.85 8 88 0.71 2 742 0.86 21 0.5
Duckhead Open Pit Oxide 89 4.24 12 140 1.74 8 60 1.56 3 289 2.47 23 1.0
Total Oxide 2,674 1.95 168 4,277 1.68 232 889 1.21 35 7,840 1.72 434
Urucum Open Pit Primary 5,279 1.54 262 7,131 1.72 393 397 1.56 20 12,808 1.64 675 0.5
Urucum East Open Pit Primary 211 1.45 10 84 0.94 3 295 1.30 12 0.5
Tap AB Open Pit Primary 1,918 1.80 111 3,858 1.61 199 1,257 1.29 52 7,033 1.60 362 0.5
Tap C Open Pit Primary 468 1.22 18 1,966 1.22 77 1,044 1.35 45 3,478 1.26 141 0.5
Duckhead Open Pit Primary 115 2.28 8 264 2.26 19 262 1.81 15 641 2.08 43 1.0
Total Primary 7,781 1.60 400 13,429 1.62 699 3,045 1.38 135 24,255 1.58 1,234
Urucum Open Pit Total 5,639 1.51 275 7,409 1.69 402 466 1.47 22 13,515 1.61 699 0.5
Urucum East Open Pit Total 411 1.66 22 92 1.00 3 503 1.54 25 0.5
Tap AB Open Pit Total 3,772 2.01 243 7,233 1.69 394 1,921 1.28 79 12,926 1.72 717 0.5
Tap C Open Pit Total 838 1.08 29 2,250 1.17 85 1,132 1.30 47 4,220 1.19 161 0.5
Duckhead Open Pit Total 205 3.14 21 404 2.08 27 322 1.76 18 930 2.20 66 1.0
Total Oxide and Primary 10,455 1.69 568 17,707 1.63 930 3,933 1.34 170 32,094 1.62 1,668
Open Pit Stockpile 1,994 0.66 42 1,994 0.66 42 0.5
Spent Ore Stockpile 307 0.61 6 307 0.61 6 0.5
ROM Expansion Stockpile 470 0.70 11 470 0.70 11 0.5
Marginal Ore Stockpiles 1,491 0.43 21 1,491 0.43 21 0.3
Total Stockpiles 4,263 0.58 79 4,263 0.58 79
Total Open Pit & Stockpiles 14,717 1.37 647 17,707 1.63 930 3,933 1.34 170 36,357 1.49 1,747
Tap AB Underground Primary* 22 1.49 1 1,025 2.30 76 3,653 3.19 375 4,700 2.99 452 1.2
Urucum Underground Primary 260 4.06 34 2,634 4.24 359 8,839 2.15 611 11,733 2.66 1,004 1.6
Total Underground 282 3.86 35 3,659 3.70 435 12,492 2.45 986 16,433 2.76 1,456  
Tartaruga 6,451 1.63 337 6,451 1.63 337 0.5
Total Brazil 14,999 1.41 682 21,365 1.99 1,365 22,877 2.03 1,493 59,241 1.86 3,540  

*The June 2018 Tap AB UG Resource includes 173,000 tonnes @ 4.68 g/t of Inferred Oxide in the Inferred Primary Category.

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