Beacon Minerals' Acquisition of Lady Ida Gold Project

Beacon Minerals Limited (ASX:$BCN) has announced its entry into a binding offer letter for a proposed earn-in and joint venture arrangement with Geoda Pty Ltd and Lamerton Pty Ltd (GL) in relation to the Lady Ida Gold Project. The Lady Ida Gold Project, located approximately 29kms from the Company's Jaurdi Gold Processing Plant, is expected to significantly increase Beacon's existing mine life.

Executive Commentary on the Acquisition

Beacon Minerals is pleased to announce the proposed earn-in and joint venture arrangement with GL for the Lady Ida Gold Project. This strategic move aligns with our commitment to expanding our mining operations and enhancing the Company's long-term prospects. We believe that the acquisition of up to 100% interest in the Lady Ida Project will contribute to our growth and further solidify our position in the gold mining sector.

Summary of Beacon Minerals' Acquisition

Beacon Minerals (ASX:BCN) has entered into a binding offer letter for an earn-in and joint venture arrangement with Geoda Pty Ltd and Lamerton Pty Ltd (GL) to acquire up to a 100% interest in the Lady Ida Gold Project. The Company aims to develop a mining operation on M16/262 and complete an exploration program on the remaining mining leases. The commencement of the Earn-in and Joint Venture Agreement is subject to various conditions precedent, including shareholder approvals and regulatory consents. Once the First Milestone is achieved, Beacon will acquire a 25% beneficial interest in the Lady Ida Project, with the potential to increase it to 100% upon meeting specified gold recovery targets. Beacon Minerals is focused on progressing the necessary agreements and approvals to advance this strategic acquisition.