Beauce Gold Fields (TSXV: BGF) (Champs D'Or en Beauce), ('BGF' or the 'Company') is pleased to announce it will use the Quebec Phosphate banner to promote and advance its 21 prospective phosphates (P2O5) properties throughout Quebec and for the evaluation of new technologies for phosphoric acid production.

Phosphate is used in agriculture and is a critical component in producing lithium iron phosphate (LFP) batteries, which are increasingly used in electric vehicles.

Patrick Levasseur, President and CEO of Beauce Gold Fields, said, 'Under the Quebec Phosphate banner, we will explore our new phosphate properties and seek innovative technologies to process our phosphate rock for the production of phosphoric acid for LFP batteries.'

Quebec Phosphate's Objectives: Research and development for new innovations to improve legacy thermal processes of phosphoric acid production

New innovations have the potential to significantly improve the polluting legacy thermal processes involved in phosphoric acid production. Traditionally, these actual processes generate large amounts of greenhouse gases, consume substantial energy, and produce harmful byproducts. However, advancements in technology such as plasma reactors and closed-loop systems, offer promising solutions to mitigate these environmental concerns.

The Company plans to take full advantage of the Quebec's government support and many attractive tax credits and incentives for battery related initiatives to seek new technologies that could be an added value to any future phosphate rock deposits.

Explore its highly prospective properties in Quebec for new phosphate deposits

The Company recently announced (BGF press release May 4, 2023) that it has acquired through map staking, 21 phosphate projects that are strategically located and are geologically prospective. The properties were staked throughout southern Quebec and comprised 300 claims totaling 19,935 hectares that are 100% owned and royalty-free. The Company's selection criteria were to stake properties that held historical phosphate (P2O5) occurrences or sample data and are accessible for exploration. Data was sourced from Quebec's Ministere des Ressources Naturelles (MERN), Systeme d'information geominiere du Quebec (SIGEOM) and the Geofiche databases.

About Phosphate

Phosphate is a critical nutrient for plant growth and plays a crucial role in agriculture. It is commonly used in the form of fertilizers to enhance crop yields. However, the global demand for phosphate is increasing rapidly due to population growth and dietary changes, which could lead to a depletion of global phosphate reserves in the near future, also known as 'Peak Phosphate.'

In addition to its use in agriculture, phosphate is also a key component in the production of lithium iron phosphate (LFP) batteries, which are increasingly used in electric vehicles (EVs) due to their high energy density and safety features. The LFP battery market is projected to grow significantly in the coming years, driven by the global push towards EVs. Tesla, Renault, Volkswagen, and Ford are just a few examples of electric vehicle (EV) car companies currently using lithium iron phosphate (LFP) batteries.

The use of phosphate in LFP batteries creates new demand for this critical resource, which could exacerbate the issue of Peak Phosphate. Hence the importance of exploring for further new phosphate reserves.

About Beauce Gold Fields

Beauce Gold Fields is a gold exploration company focused on placer to hard rock exploration in the Beauce region of Southern Quebec. 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).

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.

Contact:

Tel: (514) 262-9239

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