Beauce Gold Fields Team No Comments

Montreal, Quebec — Beauce Gold Fields (Champs D’Or en Beauce) (TSXV: ¨BGF¨), (“BGF”): (“BGF” or the “Company”), also known as “BGF” or the “Company,” is pleased to announce that it is offering a non-brokered private placement to existing shareholders as well as to Accredited investors.

Patrick Levasseur, President and CEO of Beauce Gold Fields, states, “This offering is an opportunity for all shareholders to participate in the recent discovery of mineralized antiform structures identified as the source of the historic placer gold deposits which show great promise for further lode gold discoveries.”

Image: Gold Transportation Flow from Anti Form Structures to Placer Channel

Private Placement Offer for Existing Shareholders and Accredited Investors

BGF is offering a non-broker private placement of a minimum of 2,000,000 units and a maximum of 10,000,000 units of the company at $0.04 per unit for a minimum gross proceed of $80,000 and a maximum gross proceed of $400,000, subject to the receipt of all applicable regulatory approvals. Each unit is comprised of one (1) common share and one (1) common share purchase warrant of the Company. Each warrant will allow to the holder thereof to purchase one common share of the company’s share capital at an exercise price of $0.08 for a period of 24 months following the closing date of the placement. Each share issued under the placement will have a mandatory holding period of four (4) months and one (1) day from the closing date of the placement.

The offer is open to the following groups of investors in accordance with applicable laws:

• Existing shareholders distribution Regulation 45-513

• Accredited investors Regulation 45-106

Investors interested in participating in the private placement should contact Patrick Levasseur, President and CEO of Beauce Gold Fields, at 514-262-9239 or via email at [email protected] .

Additional Information for Existing Shareholders

The placement will be open for participation by existing shareholders of Beauce Gold Fields as of the record-closing date of April 26, 2024, who wish to participate in the placement based on the existing shareholder exemption offered under Canadian securities laws. The total acquisition cost for an existing shareholder under the existing shareholder exemption cannot exceed $15,000 during the 12 months preceding the placement’s closing date, unless that existing shareholder has received advice from a registered investment dealer within the shareholder’s jurisdiction. The minimum subscription amount for existing shareholders taking advantage of the existing shareholder exemption is $8,000.

If subscriptions received from existing shareholders exceed the proposed maximum of 10,000,000 units, the shares so subscribed will be distributed on a pro-rata basis among all subscribing shareholders benefiting from the existing shareholder exemption, proportional to the number of shares each subscriber has applied for in the offer. If the subscriptions received from existing shareholders are less than the maximum of 10,000,000 available units, the balance will be offered to Accredited Investors.

The Company will use the minimum proceeds as well as the maximum proceeds from the private placement for general working capital and for exploration of its gold and phosphate properties . The placement may be closed no later than May 27, 2024 in one or more tranches upon receipt of subscriptions.

No more than 10% of the proceeds of the placement can be used for Investor Relations Activities. None amount of the proceeds of the placement is for payments to Non-Arm’s length parties of the company nor for payments to persons conducting Investor Relations Activities.

This announcement should not be distributed to United States news wire services nor disseminated in the United States. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there shall not be any sale of these securities in any United States where such offer, solicitation or sale would be illegal.

About the Grondin Gold Zone

The Grondin Zone is located in the northwest corner of the Beauce Gold property located in Beauceville and in Saint-Simon-les-Mines, Quebec. The 2023 exploration initiatives at the Grondin Zone, comprising both bulk processing and drilling, (BGF press releases, November 1 2023 and January 18 2024) revealed that the Grondin zone extends over 40 meters deep vertically and remains open at depth, with a mineralized structure stretching more than 300 meters in length. This zone is intrinsically linked to an antiform fold axis that spans several kilometers, suggesting that other gold showings may be present along the antiform fold and elsewhere on the Beauce Gold property indicating a significant potential for lode gold discoveries from this gold structure.

A positive correlation applies to silver and the pathfinder elements that were identified in the Grondin mineralized antiform structure with those found in the basal till and the saprolite of the placer gold channel of the Gilbert River valley. (press release January 18, 2024) This correlation is corroborating evidence that these antiform systems could have contributed to the development of the extensive auriferous placers in Beauce.

It also supports the hypothesis that placer gold within the Beauce Gold paleochannel, including the renowned large nuggets from the 19th century, formed in stressed quartz pockets within layered domed Axis of Antiforms, exemplified by Saddle Reef formations. Notable global Saddle Reef formations include the Bendigo gold fields in Australia (over 60 million ounces) and the high-grade Dufferin deposit in Nova Scotia.

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