Beauce Gold Fields announced it has acquired 7 more prospective phosphates (Apatite, P2O5) properties throughout Quebec. This is in addition to its previously announced 21 phosphates properties in Quebec. Phosphate is used in agriculture and is a critical component in producing lithium iron phosphate (LFP) batteries, which are increasingly used in electric vehicles.

The company recently secured eight new properties through map staking, chosen for their gravel quarries which display indications of apatite, as per MRN file reports. An announcement on May 4, 2023 highlighted the acquisition of 21 phosphate projects, selected for their strategic location and geological prospects. Cumulatively, the company's phosphate holdings now include 28 properties with 410 claims over an area of 27,224 hectares, all fully owned and exempt from royalties.

The selection criteria focused on properties with documented historical occurrences of phosphate (Apatite, P 2O5) or those with sample data available and open for exploration. The data supporting these selections was obtained from the Ministere des Ressources Naturelles of Quebec (MERN), the Quebec Geomineral Information System (SIGEOM), and the Geofiche databases. The Company will continue with data analysis to rank the proprieties for their P2O5 potential.

Properties deemed to have the highest potential will be prioritized for on-site exploration and outcrop sampling. 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.