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Montreal, Quebec — Beauce Gold Fields (Champs D’Or en Beauce) (TSXV: ¨BGF¨), (“BGF”): (“BGF” or the “Company”): is pleased to announce that it has dredged 2.16 grams per cubic meter (g/m3) of placer gold on its Ditton Gold project located near the town of Chartierville in southern Quebec.

Patrick Levasseur, President and CEO of Beauce Gold Fields, said, “We are pleased to have found sample grades that are better than the average grades for placer gold in North America. This is a positive sign because we have discovered high-grade placers both at the surface and at a deeper levels in the quarry pit, which suggests that the Ditton placer gold channel could be a substantial deposit.” Mr. Levasseur also stated, “This development has increased our goal to assess the possibility of an economically viable placer gold deposit, as well as to look for signs that could lead to future discoveries of bedrock lode gold.”

Image: Samples SB-100, T-13-3, SB-101 and SB-102

Dredge Sampling Results

The industry reporting standard unit of quantity for placer gold is grams per cubic meter.

Trench Dredged Vol. Liters Grains Au g/m3 Fine – Non-Visible Au g/m3 Grade
SB-100 28 0.453 1.71 2.16 g/m3
SB-101 30 0.596 0.0452 0.64 g/m3
SB-102 25 0.056 0.63 0.69 g/m3
T-13-3 32 0.61 0.61 g/m3

Grades are indicative only. Due to grade variability of placer deposits, a larger volume of samples is necessary to obtain a better representation of the gold content. Samples collected using a Keene Dredge model 2004 attached to a ¼ screen, which could affect measured flowed volume.

North American Placer Mines

Projects Location Year Avg. Grade g/m3
Beauce Gold Fields – Beauce Gold Project Quebec 2018 0.87
Multiple private large placer operations Yukon 2020 0.30
NovaGold (TSX-NG), Nome Gold Project Alaska 2011 0.30

Source: Exploration Target = 0.87 g/m3 Sedar: 43-101 Report – Beauce July 4th 2018, , Author B. Violette,
Yukon Placer Mining Industry Reports 2010-2014, 2018-2020:Yukon Geological Survey
NovaGold Resources: TECHNICAL REPORT NOME PLACER PROPERTY, 2006, Norwest Corporation

This gold was dredged out of unconsolidated glacial till deposits from a ground-level trench (SB-100) located over the interpreted placer channel about 300m north of the operating Ditton (Blais) quarry-samples T-13-3, SB-101 and SB-102 was dredged out of three trenches in the quarry floor.

The Ditton quarry is approximately 20 meters deep in unconsolidated glacial till deposits. It is located north of Range X and about 300m southeast of the presumed Ditton placer channel. Samples were taken from water-filled trenches T-13-3, SB-101 and SB-102 in the quarry floor from cemented brown tertiary gravel in contact with sheared volcanic rock. The Company used a suction dredge and a sluice apparatus to collect and concentrate the samples.

The samples were processed at the Coalia Laboratory in Thetford Mines, Quebec. The process employed by Coalia was to sieve the concentrates through <2 mm fraction mesh. The sieved fractions were further mechanically concentrated via a Superpanner. Under a microscope, the gold grains were extracted to be counted, weight, and characterized. Over 20 grains of gold ranged in size from approximately 100 um up to 3mm in length, coarse and delicate were extracted. The heavy mineral concentrates were sent to MSALABS in Langley, BC, to assay for fine gold particles or non-visible gold. The combined results of the lab assays and the weighted gold per sample were combined to obtain indicative grades in grams per cubic meter. Pending are the results from 10 sonic drill holes completed in the fall of 2022. Results will be reported as soon as the Company receives them. Jean Bernard, B,Sc. Geo., is a qualified person, as defined by NI 43-101, who has reviewed and approved the technical information presented in this release. A qualified person has not completed sufficient work to classify any mineral resources as defined by National Instrument (NI) 43-101; it is uncertain if future exploration will result in the delineation of mineral resources.

Exploration Map of the Ditton Project

About The Ditton Placer Channel

The placer channel is in the town of Chartierville, Quebec. The channel is 4 km east of the historical Mining Brook Placer gold mine and 6 km northwest of the US-New Hampshire border. It is also located 115 km south of the Company’s Beauce Gold project in St-Simon-Les-Mine.

A sampling program by the Company recovered gold from every sample taken throughout the Ditton quarry (BGF press release January 20, 2022), bringing about the discovery of the Ditton placer gold channel. Further insights to the existence of a channel were gained from the 1980s historical exploration reports of the regional geology and geophysics. It also revealed that the quarry was an excavated pit of an exposed layer of a Tertiary placer channel. Results from the company’s 2022 seismic refraction survey lines further support the existence of a paleochannel.

The channel trends southwest to northeast and is believed to open in both directions.

Potential for Lode Gold Discoveries

The recovered gold grains from showed delicate angular shapes suggesting little transportation. A proximal bedrock source of the placer channel could be from the eroded Eastern flank of the valley wall. The bedrock lithology holds a contact point between altered volcanic rock and schist rock. Historical surveys indicated strong magnetic lineaments favorable to hosting gold-bearing quartz lenses.

The Bella Fault line is estimated to run along strike 1 km east of the placer channel where Cache Exploration in 1985 put down 3 diamond drill holes (DDH) along Rang Dix road to test a strong shear zone. The holes intersected andesites containing numerous quartz stringers mineralized with pyrite and much tourmaline. Of interest, in the drill log for DDH number S-2 states that visible gold was noted at 240 meters (GM42843). Cache did not complete the recommended follow-up drilling to test this anomaly.

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