Beauce Gold Fields Identifies Historical Mining Shafts Ahead of Geophysical Survey

Montréal, Québec, Canada — August 20, 2026 — Leads & Copy — Beauce Gold Fields (TSX Venture: BGF) has announced the identification of several old mining shafts during preparatory work and line staking for an upcoming seismic geophysical survey. These shafts are situated on company-owned land and correspond spatially to the historical gold mining area of lot 14 in the De Léry Township, dating back to the 19th century. The historical workings are located at the eastern end of the Saint-Simon-les-Mines paleochannel, within the sector of the company's current exploration target.

Historical records from the Quebec government detail significant placer gold mining activities on lot 14 during the latter half of the 19th century. A 1898 Quebec government report by J. Obalski states that approximately 19,350 ounces of gold were recovered from an area of about three-quarters of an acre on lot 14 of De Léry before 1881. The same historical report attributes gold production to Beauce Mining and Milling Co. on lot 14 and Lockwood Company on lots 14 and 15. The company notes that these historical production figures have not been independently verified and should not be considered indicative of current mineral resources or future results.

Patrick Levasseur, President and CEO of Beauce Gold Fields, commented on the findings: "Particularly interesting is the 1898 historical account describing the sinking of shafts on lots 14 and 15 specifically to follow the path of the buried ancient channel. More than a century later, BGF is utilizing seismic geophysics, 3D modeling, and planning sonic drilling to define, using modern exploration methods, the geometry of the paleovalley interpreted in this sector."

The current program follows the company's updated technical assessment of the Saint-Simon-les-Mines paleochannel, which estimated an exploration target ranging between 4,004,674 and 5,991,229 cubic meters with grades from 2.02 g Au/m³ to 12.0 g Au/m³.

This exploration target is based on the interpretation of historical drilling, geological modeling of the Gilbert River paleovalley, polygonal volumetric calculations, and the evaluation of saprolite and basal sediment gold-bearing units. These assessments were conducted by Jean Bernard, geo., an independent qualified person under Regulation 43-101.

The company cautions that the potential quantity and grade of the exploration target are conceptual in nature. Exploration work completed to date is insufficient to define a mineral resource, and there is no guarantee that additional exploration work will result in the delineation of a mineral resource.

The Saint-Simon-les-Mines paleochannel is considered the heart of Canada's first gold rush district. Historical mining activities from the 1860s to the 1960s yielded significant quantities of coarse gold, including nuggets weighing several ounces. The company's geological model suggests that gold mineralization within the placer system is concentrated in basal gravel horizons, saprolitic bedrock, and traps within fractured bedrock developed along the paleovalley floor.

The current geophysical program aims to better define these favorable geological contexts and support the next phase of exploration through sonic drilling. Jean Bernard, B. Sc., geo., an independent qualified person under Regulation 43-101, has reviewed and approved the technical content of this press release.

Beauce Gold Fields also announced it will proceed with a non-brokered private placement of 20,000,000 units at $0.03 per unit for gross proceeds of $600,000. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at $0.07 for a period of 24 months following the closing date of the placement.

The placement is conditional on regulatory approvals, including TSX Venture Exchange approval. The proceeds will be used for exploration and general working capital. The offering will be made to accredited investors. The company may pay finder's fees in accordance with exchange policies. Shares issued will be subject to a four-month-and-one-day hold period. Insiders are expected to subscribe, potentially exceeding 25% of the placement. Up to 10% of the proceeds may be used for investor relations activities.

Beauce Gold Fields is focused on the exploration and development of eastern North America's largest placer gold district, aiming to trace ancient placer gold workings to their hard rock source to discover economic lode gold deposits. The company's flagship project is the Saint-Simon-les-Mines gold project, the site of Canada's first gold rush. The Beauce region hosted significant placer gold operations from the 1860s to the 1960s, yielding some of the largest gold nuggets in Canadian mining history.

The company is currently conducting drilling on newly discovered antiform systems believed to have contributed to the development of significant placer gold deposits in Beauce. Beauce Gold Fields' geological model suggests that placer gold in the Beauce paleochannel, including notable 19th-century nuggets, formed in strained quartz pockets within stratified and domed antiform axes, representative of Saddle Reef-type formations.

Source: Beauce Gold Fields