• Gold production increased 27% quarter-on-quarter to 40,745oz
• AISC reduced 14% to A$2,578/oz
• Cash and gold on hand increased to A$180.7 million

Bellevue Gold Ltd reported a strong March 2026 quarter, with gold production increasing 27% quarter-on-quarter to 40,745oz and AISC reducing 14% to A$2,578/oz. The company's year-to-date production totals 101,896oz, with gold sales of 101,329oz at an average AISC of A$2,916/oz. Bellevue remains on track to meet its FY26 production guidance of 130-150koz at AISC of A$2,600-2,900/oz. The increase in production was driven by higher milled grades, as ore was consistently sourced from the higher-grade Deacon Main mining area. Mine development rates, which had slowed at the start of the quarter, ramped up and are now ahead of budget for the year. Metallurgical recovery averaged 94.6% for the quarter, outperforming the recovery assumptions used in setting guidance. Bellevue reported record underlying free cash flow of A$158 million before voluntary hedge book pre-deliveries, which increased cash and gold on hand to A$180.7 million. The company continues to reduce its hedge book, with forward sales commitments now at 91,650oz. Bellevue has also approved the construction of a new 120m3/hr wet paste plant to support mining in the high-grade Deacon and Deacon North areas, with completion targeted for mid-FY27.

FY26 production guidance of 130-150koz at AISC of A$2,600-2,900/oz and growth capex of A$105-115m.

Bellevue expects to continue to accelerate pre-deliveries into forward gold sale commitments to further de-risk its balance sheet whilst maintaining flexibility to build cash, support investment in exploration and other opportunities as they arise.