Beacon Minerals Limited (ASX: BCN) (BCN or the Company) is pleased to announce that it has entered into an agreement with Primary Gold Pty Ltd (Primary Gold) whereby Beacon Mining Pty Ltd (Beacon Mining) is to acquire all of the shares in the capital of Macphersons Reward Pty Ltd.

Execution and completion of the agreement with Primary Gold occurred simultaneously.

HIGHLIGHTS

Beacon Mining has acquired a 100% interest in the MacPhersons Reward Project, located 45km southeast of the Jaurdi Gold Project for a cash consideration of $14.0 million.

Mineral Resources have previously been declared at four prospects within the MacPhersons

Reward Project area.

21km-2 of prospective tenements including 6 granted mining leases. There is significant upside for additional discovery.

Granted mining permits exist over the MacPhersons Reward, ACap and Tycho gold deposits.

Conceptual open pit mining studies by Primary Gold in 2017 and 2020 delivered positive results based on use of third party toll milling facilities.

The tenement assets are mine ready, with all the mining permits granted.

The MacPhersons Reward Project is located 45km southeast of the Company's Jaurdi Gold Project and 5km southeast of the Coolgardie township. The acquisition of MacPhersons Reward represents an importantstrategic opportunity for Beacon to optimise the value of its existing infrastructure and capture significant operational synergies.

Contact:

Graham McGarry

Tel: 0459 240 379

This ASX announcement (Announcement) has been prepared by Beacon Minerals Limited ('Beacon' or 'the Company'). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this Announcement. This Announcement contains summary information about Beacon, its subsidiaries and their activities which is current as at the date of this Announcement. The information in this Announcement is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in Beacon. By its very nature exploration for minerals is a high risk business and is not suitable for certain investors. Beacon's securities are speculative.

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