MANAGEMENT AND

BOARD REFRESH COMPLETED

November 2015

DISCLAIMER

• Forward Looking Statements

  These materials include forward looking statements. Forward looking statements inherently involve subjective judgement and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and may be unknown to, the company.

  Actual results and developments may vary materially from that expressed in these materials. The types of uncertainties which are relevant to the company may include, but are not limited to, commodity prices, political uncertainty, changes to the regulatory framework which applies to the business of the company and general economic conditions. Given these uncertainties, readers are cautioned not to place undue reliance on forward looking statements.

  Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, the company undertakes any obligation to publicly update or revise any of the forward looking statements, changes in events, conditions or circumstances on which any such statement is based.

• Competency statement

  The information in this report relating to Mineral Resource, Open Pit Ore Reserves and Exploration Results is based on information compiled by Mr Robert Watkins who is a member of the Australasian Institute of Mining and Metallurgy and who has sufficient experience which is relevant to the styles of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Watkins is an Executive Director of Beadell Resources and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

  The information in this report relating to Open Pit Ore Reserves is based on information compiled by Mr Sjoerd Rein Duim who is a member of the Australasian Institute of Mining and Metallurgy and who has sufficient experience which is relevant to the styles of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Duim is a consultant who is employed by SRK Consulting and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Mr Duim is responsible for the Tucano pit optimisations for Tap AB, Tap C and Urucum and final reporting of the pit design inventories for Tap AB, Tap C, Urucum and Duckhead.

  The information in this report relating to Mineral Resources, data quality and geological interpretation is based on information compiled by Mr Paul Tan who is a member of the Australasian Institute of Mining and Metallurgy and has sufficient exploration experience which is relevant to the various styles of mineralisation under consideration to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Tan is a full time employee of the Beadell Group and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

  The information in this report relating to resource estimation is based on information compiled by Mr Marcelo Antonio Batelochi who is a chartered professional of the Australasian Institute of Mining and Metallurgy and has sufficient exploration experience which is relevant to the various styles of mineralisation under consideration to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Batelochi is a consultant from MB Soluções em Geologia e Mineração Ltda and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

  The information is extracted from the reports entitled 'Tucano Drill Results' created on 13 November 2014, 'Annual Mineral Resource and Ore Reserve Update' created on 7 April 2015, 'Regional Exploration Update' created on 10 June 2015, 'Tucano Drill Results Update' created on 12 August 2015, 'Operational Update' created on 2 September 2015 and 'Maiden Urucum Underground Mineral Resource' created on 17 September 2015 and are available to view on www.beadellresources.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

  
  

  BEADELL IN A SNAPSHOT…

  • Brazilian focused ASX listed gold producer

  • 5.4 million ounces resource with 1.3 million reserve ounces in optimised open pits as at 31 December 2014

  • As reported on 17 September 2015, maiden Urucum Underground mineral resource is 4.86 million tonnes @ 4.06 g/t gold for 634,000 ounces

  • As reported on 17 September 2015, Urucum Underground Total Measured and Indicated resources are

    2.73 million tonnes @ 4.56 g/t gold for 400,000 ounces

  • Urucum underground PFS due end December 2015 Quarter

  • Tucano Gold Mine is the third largest gold mine in Brazil approximately 160,000 ounces per annum with a robust LOM Open Pit Mine Plan stretching at least seven years

  • Focused on delivering improved total shareholder returns

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'BRAZIL: SUPPORTS EXPORT INDUSTRIES…'

• Tax policy encourages investment in Amapa,

  i.e. SUDAM incentive scheme - 15.25% Corporate Tax Rate

• Federal Government gold royalty of 1%

• State Government gold royalty of 1%

• Low wages linked to CPI

• Foreign exchange policies encourage a competitive environment for exporters

• BRL gold price strong with BRL weakening

2,000

USD vs BRL GOLD PRICE COMPARISON

5,000

1,900

1,800

1,700

USD/oz

1,600

1,500

1,400

1,300

1,200

1,100

1,000

All-time high USD gold price

~USD 1,890/oz

All-time high BRL gold price

~BRL 4,730/oz

4,800

4,600

4,400

4,200

4,000

3,800

3,600

3,400

BRL/oz

3,200

3,000

2,800

2,600

2,400

2,200

2,000

1,800

1,600

1,400

1,200

1,000

23/11/10 23/5/11 23/11/11 23/5/12 23/11/12 23/5/13 23/11/13 23/5/14 23/11/14 23/5/15 23/11/15

USD Gold Price BRL Gold Price

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