Bellevue Gold Limited · ASX:BGL
Bellevue Gold — Mining Forum Americas 2026
25 slides from Bellevue Gold's conference presentation, Sep 28, 2026
Slide 1: Delivering, De-Risked & Unlocking Upside
rsonal use only Delivering, De-Risked & Unlocking Upside Mining Forum Americas September 2026 Passion • Accountability • Care • Excellence
Slide 2: Disclaimers & Compliance Statements
Disclaimers & Compliance Statements This presentation has been prepared by Bellevue Gold Limited (ABN 99 110 439 686) (Company or Bellevue) (ASX: BGL) and is authorised by the Managing Director & Chief Executive Officer of the Company. rsonal use only Disclaimer Not an Offer This presentation has be
Slide 3: Disclaimers & Compliance Statements
Disclaimers & Compliance Statements Forward - Looking Information Net Zero (Scope 1 and Scope 2) Greenhouse Gas Emissions Achieved This presentation contains forward-looking statements. Wherever possible, words such as 'intends', 'expects', at the Bellevue Gold Project 'scheduled', 'estimates', 'ant
Slide 4: Disclaimers & Compliance Statements
Disclaimers & Compliance Statements JORC Compliance Statements Investment Risk It is a requirement of the ASX Listing Rules that the reporting of Ore Reserves and Mineral Resources in Australia comply There are a number of risks specific to the Company and of a general nature which may affect the fu
Slide 5: Capital Structure, Board & Management
Capital Structure Board & Management Market Capitalisation 1 A$2,407M US$1,715M Board rsonal use only Cash & Gold 2 A$206M US$147M Kevin Tomlinson Non-Executive Chairman Bank Debt 2 A$100M US$71M Darren Stralow Managing Director & CEO Shannon Coates Non-Executive Director4 Debra Counsell Non-Executi
Slide 6: Bellevue: A high-quality gold business built for growth
Bellevue: A high-quality gold business built for growth A long-life, high-grade gold producer in one of Australia's premier gold districts Long - life and established high - grade asset. 1.0Moz ORE; 2.7Moz MRE1 underpinning long reserve life rsonal use only Jundee Northern Star & significant potenti
Slide 7: FY27 Priorities: Delivering, De-Risked & Unlocking Upside
FY27 Priorities: Delivering, De-Risked & Unlocking Upside Bellevue has transitioned from building the operation to generating sustainable production, cash flow and long-term shareholder value rsonal use only Delivering De-Risking Growth & Returns Deliver Guidance Proven Performance Grow the Resource
Slide 8: FY26 Built the Foundation, FY27 Growing Production
FY26. Built the Foundation FY27. Growing Production Established the long-term mining platform Five established mining areas drive production growth rsonal use only FY27 Guidance 2 144koz produced AISC of A$2,827/oz Production: 150 - 170koz AISC of A$2,800 – 3,100/oz Growth Capex: A$113M Growth Capex
Slide 9: Delivering: Established in Consistent Mining Areas
Delivering: Established in Consistent Mining Areas • Five established mining areas with mine designs extending to ~2035 provide exceptional operational visibility • Multiple active mining fronts reduce operational risk & support consistent delivery • Orebody remains open with drilling platforms esta
Slide 10: Delivering: Contractor Transition & Ramp-up
Delivering: Contractor Transition & Ramp-up Mining contractor transition complete, with operating performance recovering towards plan rsonal use only Actual vs Plan - Ounces Mined Actual vs Plan - Mined Ore Tonnes ▪ Ramp up advanced 120% Contractor Contractor 120% 100% Changeover 100% Changeover ▪ M
Slide 11: Delivering: Deacon North Established
Delivering: Deacon North Established • New high-grade mining area at Deacon North delivering ore – on schedule • Stoping to ramp up through FY27 – a key contributor to consistent higher grade ore feed with Deacon Main already established rsonal use only Deacon & Deacon North delivering high-grade or
Slide 12: Delivering: Processing
Delivering: Processing • Standard gravity-CIL plant FOB Crushing Circuit • 3 stage crushing, ball milling • Maintaining ~95% recovery1 rsonal use only • ~70% gravity recovery • Utilising ~1.2Mtpa of 1.35Mtpa capacity Ball Mill • Upgrades to gravity circuit and increased oxygen Gravity Circuit inject
Slide 13: De-Risked Operations
De-Risked Operations FY26 operational performance exceeded plan ▪ Development metres ▪ Ore tonnes (development and stoping) rsonal use only ▪ Haulage (TKMs) ▪ Plant recovery FY27 mining flexibility substantially improved 1 ▪ Multiple mining fronts ahead of schedule ▪ Decline development well ahead o
Slide 14: De-Risked: Strong balance sheet with growing flexibility
De-Risked: Strong balance sheet with growing flexibility Strong cash position and continued hedge book pre-delivery to further de-risk the business rsonal use only Cash & Gold Growing Hedge exposure reduced by >50% during FY26 As at 30 June 20261 the Group had the following Forward contracts reduced
Slide 15: De-Risked: Growing balance sheet, shrinking liabilities
De-Risked: Growing balance sheet, shrinking liabilities Strong cash position and continued hedge book pre-delivery to further de-risk the business rsonal use only Financial inflection point underway. Growing cash balance, significantly reduced hedge exposure $180 Target: Hedge free $160 152,000 oz $
Slide 16: Growth: Exploration has recommenced at Bellevue
Growth: Exploration has recommenced at Bellevue ~4Moz mined & defined to date with mineralisation open down plunge2. • Diamond drilling program ongoing Bellevue Exploration Domains rsonal use only • High-grade mineralisation intersected at Westralia includes 3.4 metres at 18.45g/t Au 1 intersected ~
Slide 17: Exploration Upside: Bellevue Line of Lode
Exploration Upside: Bellevue Line of Lode • Bellevue Lode extends down plunge under lake • Southern Belle Decline & Viago Drill Drive will test Bellevue 'line of lode' extensions under Lake Miranda • Untested DHEM plates up plunge from Southern Belle Resource rsonal use only Mine grid DHEM Flat Lode
Slide 18: Exploration Upside: Deacon Line of Lode
Exploration Upside: Deacon Line of Lode • Deacon & Deacon North are highest grade mining areas at Bellevue • Deacon South defined by DHEM target and historical drilling from surface rsonal use only Mine grid DHEM Flat Lodes Development Plates Interpreted position Existing + Planned Notes: 1. 2.7Moz
Slide 19: Exploration Upside: Tribune Line of Lode
Exploration Upside: Tribune Line of Lode • Underground drilling recommenced at Tribune South • Southern Belle Decline will allow for staged exploration to explore plunge continuation of mineralisation under Lake Miranda • Sixth underground drilling rig arriving rsonal use only 1.71m @ 7.80g/t Extens
Slide 20: Unlocking Upside: Disciplined Growth
Unlocking Upside: With the operation established & financial Disciplined Growth flexibility increasing, Bellevue is now planning its next phase of growth. rsonal use only 1. Optimise the current operation • Leverage established mining fronts and operating platform • Optimise operations to 'fill the
Slide 21: Sustainability: Better for business
Sustainability: Better for business Attracting the next rsonal use only generation workforce Energy security & Increased investor resilience appetite Building a more CO2 resilient business Lower greenhouse Lower fuel cost & gas emissions supply risk Green gold premium A net zero gold producer1 Notes
Slide 22: Delivering, De-Risked, Unlocking upside
Delivering De-Risked Unlocking upside rsonal use only • Consistent execution • Established operating platform • Growing free cash flow • Guidance delivered • Strong balance sheet • Disciplined growth • Reduced execution risk • Exploration upside 22
Slide 23: Appendices: Mineral Resource & Ore Reserve
rsonal use only Appendices Mineral Resource & Ore Reserve
Slide 24: Mineral Resource & Ore Reserve Estimates
Mineral Resource & Ore Reserve Estimates rsonal use only Reserve Estimates for the Bellevue Gold Project Resource Estimates for the Bellevue Gold Project Tonnes Grade Contained Tonnes Grade Contained Ore Reserve Mineral Resource (Mt) (g/t Au) Ounces (Moz) (Mt) (g/t Au) Ounces (Moz) Proved Ore Reserv
Slide 25: Investor Contact
rsonal use only Investor Contact: Duncan Hughes Chief Corporate Development Officer T: +61 8 6373 9000 E: investors@bgl.gold