SIGNIFICANT GOLD RESULTS FROM BARLEE

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1 A Level 2, 46 Ord Street West Perth WA 6005 P F E admin@beacnminerals.cm ASX ANNOUNCEMENT 20 March 2007 The Manager Cmpany Annuncements Office Australian Stck Exchange Limited 4 th Flr, 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam HIGHLIGHTS SIGNIFICANT GOLD RESULTS FROM BARLEE Drilling at several prspects returns significant shallw gld mineralisatin, including 9.3 g/t 2.1 g/t 2.7g/t (inc. 5.0g/t) 2.5g/t 2.4 g/t 0.8g/t (inc. 3.0g/t) 1.7g/t (inc. 3.1g/t) 1.4 g/t 2.1 g/t New structural mdel cnfirmed, multiple mineralised structural crridrs identified. Anmalus PGE, Ni and Cu in ultramafics suggest ptential fr nickel. Further drilling planned Beacn Minerals Ltd (ASX Cde: BCN) is pleased t annunce that all results have been received frm drilling at the Barlee Gld Prject (BCN: 80%), 200km nrth f Suthern Crss in the gldfields regin f Western Australia. The Barlee Gld Prject cvers an area f ver 400 sq km, the majrity f which remains under explred. Beacn Minerals managing directr Lyle Thrne said, Beacn s drilling validates ur new explratin mdel that assumes gld mineralisatin is preferentially hsted in nrth-easterly trending structures. Our mdel differs frm assumptins made by previus explrers and suggests that the histrical drilling was blique t this trend. A ttal f 133 shallw, vertical Aircre drill hles fr 4,400m was cmpleted (BRB ) testing fr xide gld mineralisatin at five prspects, including Halleys East, Phil and Russell, ver 3km f strike.

2 The drilling was designed t infill at 100m traverses significant gld mineralisatin intersected in histrical shallw drilling, and intersected a package f variably sheared mafic, ultramafics and prphyries weathered t depths f 40m dwn hle. Halleys East Prspect Drilling defined multiple znes f gld mineralisatin within the xide zne. At a >0.5g/t cntur, the main zne at Halleys East is ver 400m lng, pen t the suth and at depth. Significant intercepts are presented in Table 1, and include 9.3 g/t Au, 2.5g/t Au and 2.7 g/t Au (inc. 5.0g/t Au), which cmpliment histrical intercepts frm within this zne f 5.3g/t (inc. 14.2g/t), 1.6g/t (inc. 12.2g/t) and 8.0 g/t Au. Further drilling alng the structural trend is planned. Phil Prspect Lcated 1.6km nrth f Halleys East, Phil returned highly encuraging drill results. The mineralised zne is interpreted t be apprximately 350m lng and remains pen t the suth and at depth. Significant results including 2.1 g/t and 1.4 g/t with 2.4 g/t. Histrical drilling alng a single drill line sme 150m suthwest f Phil recrded +0.5 g/t mineralisatin and may indicate the develpment f further znes. This area has never been fllwed up and is a pririty target fr fllw-up drilling. Russell Prspect Lcated midway between Halleys East and Phil, the Russell Prspect is in an area where histrical, selective assaying yielded results f 5.4 g/t Au. Brad intercepts within the xide prfile ver +0.5 g/t Au 0.8g/t, inc. 3g/t Au, 0.5g/t) including several hles recrding >1.0g/t at EOH, were recrded alng a nrth-easterly trend. Drilling by previus explrers alng this trend 300m suthwest returned >1.0g/t intercepts suggesting the presence f ther mineralised znes. There is n drilling in between, and the area is a high pririty target.

3 Nickel The Barlee Gld Prject is lcated in the Suthern Crss Greenstne Belt, which hsts several nickel mines in the suth. Despite this, little if any nickel explratin appears t have been dne in the nrthern part f this Greenstne Belt, including the area near Barlee. As ultramafic lithlgies were bserved in histrical drilling, Beacn Minerals als assayed fr PGE, Ni, and Cu and As. A number f hles returned elevated PGE with crrespnding Cu and Ni. Peak results f 0.21g/t PGE (Pt+Pd), 0.1% Cu and 0.2% Ni frm hles that had variably sheared ultramafic lithlgies at EOH were returned. As the drilling was nt specifically targeting these ultramafic units, the Cmpany is encuraged by the results received. It is estimated that ver 25 strike kilmetres f ultramafic exist within the prject, and the Cmpany intends t investigate the ptential fr the area t hst nickel sulphide mineralisatin. Fr further infrmatin cntact; Lyle Thrne Media Enquiries Managing Directr Tny Dawe Tel: (08) Tel: In accrdance with Listing Rules 5.6 f the Australian Stck Exchange, the technical infrmatin cntained in this reprt has been cmpiled by Mr. Lyle Thrne, a full time emplyee f Beacn Minerals Ltd. Mr. Thrne is a member f the Australasian Institute f Mining and Metallurgy (AusIMM) and has the relevant experience with the mineralisatin reprted n t qualify as a Cmpetent Persn as defined by the Australasian Cde fr Reprting f Mineral Resurces and Reserves. Mr. Thrne cnsents t the inclusin in the reprt f the matters based n the infrmatin in the frm and cntext in which it appears. Attachments: 1. Map f Barlee Drilling Results 2. Map f Barlee Prject

4 Table 1 Significant Drill Intercepts Barlee Prject Prspect Hle East Nrth Depth Frm Result (BRB) (m) (m) Russell g/t PGE, 0.12% Ni, 200ppm Cu g./t Au g/t PGE, 0.2% Ni, 300ppm Cu Inc g/t Au 1.0g/t Au EOH g/t Au EOH g/t Au EOH 0.1g/t PGE, 0.2% Ni, 500ppm Cu g/t Au g/t Au Inc g/t Au g/t Au EOH Halleys East Inc g/t Au 3.1g/t g/t Au Inc g/t PGE, 0.22% Ni, 600ppm Cu g/t Au Inc g/t PGE, 0.1% Ni g/t Au EOH g/t Au Inc g/t Au g/t Au EOH g/t Au EOH g/t Au EOH g/t Au g/t Au g/t PGE g/t Au, 0.15 g/t PGE, 0.2% Ni, 300ppm Cu g/t Au Inc g/t Au, 0.12 g/t PGE, 0.15% Ni g/t Au EOH Inc g.t Au g/t Au g/t Au, 0.15 g/t PGE, 0.1% Ni, 0.1% Cu Halleys g/t PGE, 0.15% Ni, 400ppm Cu g/t Au g/t Au EOH g/t Au EOH Duke g/t Au EOH g/t AU EOH g/t Au EOH Phil g/t Au Inc g/t Au g/t Au EOH g/t Au g/t (results awaited 28m-EOH) g/t Au Results f >0.2g/t Au, 0.1 g/t PGE, 0.1% Ni and 200ppm Cu shwn Samples cllected as cmpsites t a maximum f 4 meters.. Assays sent t Ultratrace Labratries in Perth. Gld &PGE determinatin via Fire Assay; nickel, cpper and arsenic by mixed acid/icp-oes. PGE = Pt+Pd, Au = gld, EOH= End f Hle

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