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The Beaconsfield Mine Joint Venture in a statement said at 7.22am (EST) one body was found during the rescue process at the Beaconsfield mine site, and the company held "grave concerns" over the fate of the other two miners.
When contacted by MiningNews.net at 10.30am, a spokesman said the identity of the dead miner was unknown at this stage.
Mine rescue crews have been unable to make contact with the men after a rockfall trapped them around 9.30pm on Tuesday evening. A remote-controlled earth moving loader equipped with two cameras was deployed into the mine yesterday to try and locate the men.
Seventeen miners were underground at the time but 14 were able to make it to the surface unhurt. The Department of Justice has assumed control of the site.
Beaconsfield is owned 51.51% by Allstate Exploration and 48.49% by Beaconsfield Gold, which in turn holds 30% of Allstate. Beaconsfield Gold has since entered a trading halt.
