• Gold production increased quarter-on-quarter to 32,031oz
• Mined grades and processed grades increased as mining moved to higher-grade areas
• Hedge book reduced ahead of schedule, increasing future spot gold price exposure

Bellevue Gold Limited (ASX: BGL) reported a strong December 2025 quarter with gold production increasing quarter-on-quarter to 32,031oz. Mined grades and processed grades increased as the mining sequence progressed to higher-grade areas in the Deacon, Viago and Deacon North mining zones. The company also continued to reduce its hedge book ahead of schedule, with forward gold sales commitments reduced by a further 18,345 ounces. This included 4,725 ounces of mandatory hedge deliveries and 13,620 ounces of additional voluntary pre-deliveries, increasing Bellevue's future spot gold price exposure. Despite a 10-day suspension in underground development and delays accessing a high-grade stope at Deacon, the company remains on track to meet its FY26 production guidance of 130-150koz at an AISC of A$2,600-2,900/oz. Bellevue also strengthened its executive team with the appointment of a new Chief Geologist and saw its founding directors step down from the Board as the company positions itself for ongoing operational success. The Bellevue Gold Project, the world's first net zero (Scope 1 and Scope 2) emission gold mine, also achieved a record consecutive 101 hours of 100% instantaneous renewable energy during the quarter.

Bellevue remains on track to meet FY26 production guidance of 130-150koz and AISC guidance of A$2,600-2,900/oz.