Beauce Gold Fields Grondin Outcrop Bulk Sample Returns 5.6 g/t Gold

(TheNewswire)

November 14, 2024 – TheNewswire - Montreal, Quebec, Canada - Beauce Gold Fields (Champs D’Or en Beauce) (TSX Venture: "BGF"), referred to as "BGF" or the "Company," is pleased to announce the results of the analysis of a preconcentrate sample, recovered from a bulk sample of fractured stockwork quartz vein from the Grondin antiform outcrop, on the Company's Beauce gold property, located in the Beauce region of southern Quebec. The analysis returned 5.61 grams per ton of gold.

Patrick Levasseur, President and CEO of Beauce Gold Fields, stated: "Apart from the coarse gold grains, this demonstrates that non-visible gold mineralization may play an important role in the anticline (Saddle Reef type) structures. This structure holds significant promise for further lode gold discoveries."

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Image: stockwork vein of the Grondin outcrop, grade of sample C0247469

A 500-gram sample was randomly taken from one of the 20-litre buckets of preconcentrates. The preconcentrates were derived from loose fragments smaller than 10 cm, recovered using a mobile placer plant equipped with a trommel and sluice box. The placer plant processed a 30-ton bulk sample of heavily fractured stockwork featuring a milky white quartz vein several meters wide, interspersed with pockets of sulfide-rich material along shear planes of blocks of lapilli tuffs (BGF press release 2023-08-22) taken from the Grondin antiform outcrop.

The preconcentrates sent for analysis contained no visible gold grains. However, over 18 visible and sharply angular grains of gold from a final concentrate were previously extracted from the preconcentrates (BGF press release 2024-03-20). SEM analysis on several of these gold grains indicated that they contained an average of 85.05% gold (Au) and 14.74% silver (Ag), with the fineness of the gold grains (calculated as 1000 ⨉ Au / (Au + Ag)) ranging between 820 and 870 (BGF press release 2024-06-13).

The Grondin outcrop is located above drill hole GR 23-01, which the company drilled in 2023 (BGF press releases, November 1, 2023, and January 18, 2024). The drill hole crossed the entire length of the mineralized zone over 36 meters, intersecting three gold zones between 11 and 24 meters. All areas are associated with stockworks that contain varying levels of sulfides. The mineralized zones are strongly affected by significant deformation, led to significant core loss, especially towards the end of the drilling process. One of the intersected zones showed a notable grade of 5.4 g/t Au over 2.2 meters.

Test Certificate YVO2411180

The outcrop is within the Grondin gold zone, a mineralized structure that follows the crest of an anticline fold (Saddle Reef type) and extends along strike for eight kilometers. Cumulative exploration data suggest that Saddle Reef-type formations are the likely bedrock sources of the company's historical placer gold deposits.

QA/QC procedures for the reported preconcentrate sample include Certified Reference Materials from MSALABS of Val-d'Or, Quebec, Test Certificate YVO2411180. Standards and blanks were inserted into the sequence of samples on-site as part of quality assurance and quality control. MSALABS is an ISO-17025 accredited laboratory for the photon assay method.

Jean Bernard, BSc, Geo, a qualified independent person as defined by National Instrument 43-101, has reviewed and approved the technical information presented in this release.

Non-brokered private placement

The company wants to clarify that the following provisions replace the provisions relating to this private placement contained in the press release issued for the same private placement on November 7, 2024. The prices of the Units are set pursuant to the closing price of the Company's shares on November 13, 2024

The Company will proceed with a non-brokered private placement of5,000,000 Flow-Through units at $0.04per unit for gross proceeds of $200,000 and5,000,000 Hard Dollar units at $0.03 per unit for gross proceeds of $150,000.

Each Flow-through unit will be comprised of one (1) Flow-through common share and of one (1)common share purchase warrant of the company. Each warrant will entitle the holder thereof to purchase one common share of the capital stock of the company at a price of $0.08for a period of 24 months from the date of closing of the placement and each Hard Dollar unit will be comprised of one common share and one common share purchase warrant of the company which will entitle the holder thereof to purchase one common share of the capital stock of the company at a price of $0.05 for a period of 36 months from the date of closing of the placement.

The offering is conditional upon the receipt of all necessary regulatory approvals, including the approval of the exchange. The proceeds of the offering will specifically be used: (i) to finance exploration and (ii) for general corporate purposes.

The offering will be offered to accredited investors in accordance with applicable securities laws. In connection with the offering, the company may pay finders' fees, as permitted by the policies of the exchange. Each share issued pursuant to the placement will have a mandatory four-month-and-one-day hold period from the date of closing of the placement. The company anticipates that insiders may subscribe for units and their participation could exceed 25 per cent of the offering.

No more than 10% of the proceeds of the placement can be used for Investor Relations Activities. No 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.

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 extensive auriferous placer deposits 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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