Common Contracts

CONDITIONAL AGREEMENT TO AQUIRE THE OUTSTANDING 30% INTEREST IN THE CRACOW GOLD MINE AND WAIVER OF LION’S PRE-EMPTIVE RIGHT

Conditional Agreement • May 15th, 2008

• Contract Type
  Conditional Agreement
• Filed
  May 15th, 2008

Beadell Resources Limited (“Beadell” or the “Company”) has signed a conditional agreement to acquire Lion Selection Ltd’s (“Lion”) 30% joint venture stake in the Cracow Gold Mine (“Cracow”) in Queensland, Australia (the “Lion Conditional Agreement”). The Lion Conditional Agreement is in addition to the conditional agreement announced on 4 April 2008 between Newcrest Mining Limited (“Newcrest”) and Beadell to acquire Newcrest’s 70% interest in Cracow.