Beauce Gold Field Welcomes Addition of Phosphate to Canada’s Critical Minerals List

Montreal, Quebec — Beauce Gold Fields (Champs D’Or en Beauce) (TSXV: ¨BGF¨), (“BGF”): (“BGF” or the “Company”), referred to as “BGF” or the “Company,” is pleased to announce that the Canadian government has added phosphate to the critical minerals list. The Company holds a portfolio of 29 prospective phosphate projects throughout Quebec. Phosphate is essential for agriculture and is a critical component in producing lithium iron phosphate (LFP) batteries, increasingly used in electric vehicles.

Patrick Levasseur, President and CEO of Beauce Gold Fields, states, “This addition of phosphate to the critical minerals list underscores the strategic importance of our phosphate assets.”

The Canadian Minister of Energy and Natural Resources, Jonathan Wilkinson, announced on June 10, 2024 the update to Canada’s Critical Minerals List, which now includes phosphorous and silicon metal. This update follows substantial consultations to focus efforts on developing robust critical minerals value chains. The addition aligns Canada with other jurisdictions, such as Ontario, Quebec, the European Union, and South Korea, recognizing phosphorous as a critical and strategic mineral. A decision by the United States Government on the status of phosphorous as a critical and strategic mineral is expected in 2024-2025.

The company owns 29 phosphate projects selected for their strategic location and geological prospects. The company’s phosphate holdings include 410 claims over an area of 27,224 hectares, all fully owned and exempt from royalties. These properties were selected based on documented historical occurrences of phosphate (Apatite P2O5) or available sample data and are open for exploration. The selection data was sourced from the Ministère des Ressources Naturelles of Quebec (MERN), the Quebec Geomineral Information System (SIGEOM), and the Geofiche databases. (see BGF press release November 16, 2023)

Property	Region	Host Rock	Minerals	P2O5 Grade*
Riv. Cascapédia	Gaspésie	Mudstone	Phosphate	14%
St-Cléophas	Gaspésie	Phosphorite	Phosphate
St-René de  Matane	Gaspésie	Schiste	Phosphate	12%
Manouane Est	Lac Saint-Jean	Anorthosite	Phosphate
Manouane Nord	Lac Saint-Jean	Anorthosite	Phosphate
Manouane	Lac Saint-Jean	Anorthosite	Phosphate
Lac Pic	Lac Saint-Jean	Anorthosite	Phosphate
CH-98-0	Lac Saint-Jean	Leuconorite	Phosphate	8.59%
Des Commissaires	Lac Saint-Jean	Anorthosite	Phosphate-Titanium	6.94%
Carriere du Rang 1	Lac Saint-Jean	Gabbronorite	Phosphate
Carriere Lecarne	Lac Saint-Jean	Feldspaths	Phosphate
Mimosa	Lac-Saint-Jean	Feldpaths	Phosphate
Carriere Laurentide	Lac Saint-Jean	Monzodiorite	Phosphate
Riv. Aux Outardes	Baie Comeau	Nelsonite	Phosphate	10.7%
St-Michel-des-Saint	Mauricie	Gneiss	Phosphate-Titanium	2.89%
Riv. Au Lievre-Well	Laurentide	Pegmatite	Phosphate
Lac Hanson-Sud	Laurentide	Pegmatite	Phosphate
Brockaby	Mont-Laurier	Marbre	Lithium-Phosphate
Carriere Sables LG	Montcalm	Mangerite	Phosphate
Carriere Tremblay	Maniwaki	Dolomite	Phosphate
Bardy	La Tuque	Gaboronorite	Phosphate
Barrage Beaumont	La Tuque	Granite	Lithium-Phosphate
Baie-Obaoca	Lanaudiere	Syenite	Phosphate	4%
Desile-2	Manicouagan	Gaboronorite	Phosphate-Titanium	4.95%
Car. De L’Anse Verte	Côte Nord	Anorthosite	Phosphate
Riviere Nipissis	Côte Nord	Gabbro	Phosphate
Carriere Lac Riverin	Côte Nord	Migmatite	Phosphate
Lac du Canot	Côte Nord	Granite	Phosphate
McVeity & Taylor	Gatineau		Phosphate	19th century mine

Even though the data was sourced from Quebec’s MRN databases, the Company cautions investors to note that historical phosphate P2O5 samples results, grades, mineralization and property descriptions are conceptual in nature. A qualified person has not completed sufficient work to validate historical data nor to classify mineral resources as defined by National Instrument (NI) 43-101; it is uncertain if future exploration will result in any delineated mineral resources.

Beauce Gold Fields will continue data analysis to rank the properties for their P2O5 potential. Properties on crown land with the highest potential will be prioritized for on-site exploration and outcrop sampling. Work on properties that are on privately owned land will be conditional to negotiated access and to favorable reception by local municipalities. Exploration work will be done congruently to the company’s ongoing gold projects.

About Phosphate

Phosphate is a critical nutrient for plant growth and plays a crucial role in agriculture, commonly used in fertilizers to enhance crop yields. However, global demand for phosphate is increasing rapidly due to population growth and dietary changes, potentially leading to a depletion of global phosphate reserves, also known as “Peak Phosphate” (Peak phosphorus demand trends and implications, July 2019, Binlin Li, KB Bicknell, Alan Renwick).

In addition to agriculture, phosphate is also a key component in LFP batteries, increasingly used in electric vehicles due to their high energy density and safety features. The LFP battery market is projected to grow significantly, driven by the global push towards electric vehicles. The use of phosphate in LFP batteries creates new demand for this critical resource, exacerbating the issue of Peak Phosphate.

Clarification on the Non-Brokered Private Placement

Beauce Gold Fields Inc. submits that, in connection with the previous announced May 22, 2024 and June 13, 2024 non-brokered private placement of 2,475,000 flow-through units at four cents per unit for gross proceeds of $99,000.00 and 5,335,714 units at 3.5 cents per unit for gross proceeds of $186,750.00, it had to pay additional broker’s fees.

Beauce Gold Filds Inc. will pay as additional finder’s fees to StephenAvenue Securities Inc. $2,400and the issuance of 60,000 warrants entitling the agent to purchase 60,000 common shares of the Corporation at a price of $0.08 per share for a period of 24 months from the date of closing of the placement.

The amendment is subject to standard regulatory approvals including the approval of the TSX Venture Exchange and the Corporation confirms that StephenAvenue Securities Inc. is at arm’s length to the Issuer and to all Placees in respect of which it is being paid a commission, finder’s fee or other similar payment.