Beach will be one of the upcoming festival's Rising Star Award winners.
Past recipients of the award include Terrence Howard, Scarlett Johansson and Bryce Dallas Howard.
Beach, who is based in Ottawa, is best known for his work in "Smoke Signals," which won a Sundance Audience Award, and for starring opposite Nicolas Cage in the film "Windtalkers."
In "Flags of Our Fathers," Beach plays a Pima Indian who is troubled by his experiences in battle.
"The film is very poetic. It deals with a tough issue, with showing one of the worst periods of war. Iwo Jima was very, very horrific, and to be able to show it in a way that's memorable and emotional but not drawing on it being too heavy, I think a lot of people are going to really respect the people who fought the war to create the world we have today," Beach said in a phone interview.
"It makes you want to phone your grandfather and your dad and say thank you, thank you for being there for me," Beach said from the party Thursday night.