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

(TheNewswire)

June 20, 2024, Montreal, Quebec, Canada – TheNewswire – Beauce Gold Fields (Champs D’Or en Beauce) (TSX Venture: "BGF"), 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."

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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)

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.

About Beauce Gold Fields

Beauce Gold Fields is focused on exploring and developing the largest placer gold district in eastern North America. The Company’s objective is the trace old placer gold workings back to a bedrock source to uncover economic lode gold deposits. The Company’s flagship property is the St-Simon-les-Mines Gold project site of Canada’s first gold rush that pre-dates the Yukon Klondike. The Beauce region hosted some of the largest historical placer gold mines in Eastern North America that were active from 1860s to the 1960s It produced some of the largest gold nuggets in Canadian mining history (50oz to 71oz). (Source Sedar: 43-101 Report - Beauce July 4th 2018, , Author B. Violette)

Beauce Gold Fields is currently exploring recently discovered antiform systems that could have contributed to the development of the extensive auriferous placers in Beauce. The Company’s geological model suggests 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.

Beauce Gold Fields website www.beaucegold.com

Disclaimers:

This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding mineral exploration. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact

Patrick Levasseur, President and CEO Tel: (514) 262-9239

www.beaucegold.com

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