Beauce Gold Fields: Private Placement Offer for Existing Shareholders

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."

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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 patrick.levasseur@beaucegold.com.

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.

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 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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