BEADELL RESOURCES LIMITED - ASX: BDR

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Description

Beadell Resources Ltd is a gold development company. Its primary asset is the Tucano gold project, located in Brazil. Tucano has gold resources of approximately 3 million ounces with 1.2 million ounces in optimised open pits (optimisation based on a US$1000 gold price) plus over 2,500km² of highly prospective gold exploration tenements. Beadell is currently undertaking a definitive feasibility study to transform the existing heap leach into a conventional CIL processing operation and this is on schedule for completion by December 2010. The schedule has the construction of the CIL plant occurring in 2011 with first gold production late 2011 / early 2012.

Beadell also has an extensive portfolio of key gold exploration tenements throughout Australia and Brazil, including the prospective Tropicana East Project located adjacent to the Tropicana gold deposit managed by Anglogold Ashanti Australia Ltd and the Handpump Prospect located within the West Musgrave Complex of the remote central eastern parts of Western Australia. In December 2009 Beadell heralded the discovery of a potential new gold province at Handpump intersecting significant gold mineralisation.

The Company is led by a team of experienced resource executives with a track record of successfully identifying and developing world scale projects. The Board and management team has particular experience in the development of gold projects in Brazil.

The name Beadell has been chosen in line with the Company's focus on gold exploration in the remote Far East of Western Australia. Len Beadell has been described as "the last Australian explorer" because of his many years of work surveying, mapping and road building in a vast portion of the Australian outback.

Investment Highlights

Beadell Resources Ltd (Beadell or the Company) is a gold focused exploration company with a portfolio of advanced and greenfields projects with assets in Australia and Brazil.

* The Board aims to grow the Company by utilising the skills and experience of its people;
* The exploration effort will be focused, deliberate and well-timed endeavouring to achieve prompt discovery and development of deposits;
* Strong experienced Board, executives and professional staff with a proven track record for rapid growth through exploration success and opportunistic acquisitions;
* Oxiana to become a cornerstone investor with 12,800,000 Shares as consideration for the Australian exploration assets;
* Talon Metals Corp to be issued approximately 2.3 million Shares as part consideration for the Tartaruga Project in Brazil;
* Tropicana East Project adjacent to the Tropicana gold discovery in Western Australia covering 2,910km2 of sparsely explored ground; Tartaruga Project in Brazil where over 6,000m of diamond drilling has delineated a target range of 2.0-3.2Mt at between 1.5g/t and 3.8g/t gold which will form the basis of an aggressive drilling program to convert and expand into an initial JORC resource. This target range is conceptual in nature, refer to 4.5.5 of the Independent Geologist Report in Section 4 prepared by Snowden;
* Drill ready targets at the Reedy Creek Project in Victoria to test depth and strike extensions of the Clonbinane dyke where historical drill results include 8m @ 7.0g/t gold from 9m depth, 21m @ 4.8g/t gold from 9m depth and 15m @ 4.1g/t gold from 25m depth. The Reedy Creek Project is located 70km south-east of the Fosterville gold mine;
* Iron Oxide Copper Gold targets at the Lake Mackay Project and West Musgrave Project in central Western Australia. At the West Musgrave Project a large undrilled soil anomaly over 1,200m long by 400m wide with a maximum of 250ppb gold is located on the edge of the Palgrave Cauldron;
* Uranium targets for paleochannel and redox controlled roll front style mineralisation including the Minigwal Prospect proximal to the large undeveloped Mulga Rocks uranium deposit and the West Musgrave Project in Western Australia.

Mine For

gold, iron ore, copper, uranium

Location of operation(s)

Brazil, Western Australia, Victoria

Address

Level 2, 16 Ord Street
WEST PERTH, WA, AUSTRALIA

Phone

+61 8 9429 0800

Email

Website

http://www.beadellresources.com.au

Last Updated

19/04/2011