BEACON MINERALS LIMITED — Capital/Financing Update 2012

Jun 24, 2012

==> picture [135 x 36] intentionally omitted <==

==> picture [135 x 36] intentionally omitted <==

==> picture [135 x 36] intentionally omitted <==

ASX ANNOUNCEMENT

25 June 2012

BARLEE GOLD PROJECT DRILLING UPDATE

Beacon Minerals Limited (“Beacon” or “the Company”) is pleased to announce that it received from the Department of Mines and Petroleum (“DMP”) on 11 June 2012 approval to undertake percussion and diamond drilling at the Barlee Gold Project.

The Board has engaged, mobilised and commenced diamond and reverse circulation drilling at Halleys East.

==> picture [473 x 317] intentionally omitted <==

Percussion drill rig in operation at Halleys East

The percussion drilling program is designed to:

• a) Investigate ground water flows to satisfy requirements in respect to the preparation of the mining proposal; and,

• b) Complete infill drilling within the ore body to establish greater confidence in the ore zone.

BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie Office 144 Vivian Street, Boulder, WA 6432 Registered Office Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 Website www.beaconminerals.com Phone 08 9322 6600 Facsimile 08 9322 6610

==> picture [135 x 36] intentionally omitted <==

==> picture [135 x 36] intentionally omitted <==

==> picture [135 x 36] intentionally omitted <==

==> picture [473 x 317] intentionally omitted <==

Diamond drill rig in operation at Halleys East

The diamond drilling program is designed to:

• a) Provide core to assist in the geotechnical pit design required by the DMP in respect of the mining proposal; and,

• b) Provide samples for additional metallurgical test work.

A mine surveyor will be engaged to survey all drill collars. This survey will be completed immediately after concluding the percussion and diamond drill programs.

The current programme will enable an independent mining consultant to complete a revised JORC ore reserve statement.

Should shareholders have any questions regarding Beacon, please feel free to contact Executive Chairman Geoff Greenhill, Managing Director Graham McGarry or Executive Director Marcus Michael.

Geoff Greenhill	Graham McGarry	Marcus Michael
Executive Chairman	Managing Director	Executive Director
0419 991 713	0409 589 584	0418 908 091

BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie Office 144 Vivian Street, Boulder, WA 6432 Registered Office Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 Website www.beaconminerals.com Phone 08 9322 6600 Facsimile 08 9322 6610