Mr. Patrick Levasseur reports

BEAUCE GOLD FIELDS TO CLOSE A $300,000 PRIVATE PLACEMENT: INSIDERS INCREASE THEIR HOLDINGS IN THE COMPANY

Beauce Gold Fields Inc. is closing a non-brokered private placement of 1.1 million flow-through units at five cents per unit for gross proceeds of $55,000 and seven million units at 3.5 cents per unit for gross proceeds of $245,000.

Patrick Levasseur, president and chief executive officer of Beauce Gold Fields, said, "With a developing macro environment that is favourable for gold, along with our recently announced discovery of a promising structure which could be one of the sources of gold placers in Saint-Simon-les-Mines, we are very excited for 2024."

Each flow-through unit will comprise one flow-through common share and one-half of one common share purchase warrant of the company. Each full warrant will entitle the holder thereof to purchase one common share of the capital stock of the company at a price of 10 cents for a period of 24 months from the date of closing of the placement and each unit will comprise 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 five cents for a period of 36 months from the date of closing of the placement. The placement is subject to standard regulatory approvals including the approval of the exchange. The proceeds of the placement will be used: (i) to finance exploration and (ii) for general corporate purposes.

In connection with the placement, the company will pay as cash finder's fees $2,800.35 to StephenAvenue Securities Inc. of Toronto, Ont. The company will also issue 80,010 warrants to StephenAvenue Securities. Those warrants will entitle the agent to purchase one common share of the capital stock of the company at a price of five cents for a period of 36 months from the date of closing of the placement.

Insiders of the company subscribed for 1,629,000 units in the placement composed of 100,000 flow-through units and 1,529,000 common units. Patrick Levasseur subscribed for one million units, Robert Gagnon, through his company for 143,000 units, Ann Lavasseur for 100,000 flow-through units and 143,000 units, Bernard Tourillon for 143,000 units, and Francois Rivard for 100,000 units. Following the completion of the private placement, Mr. Levasseur will beneficially own or exercise control or direction over, directly or indirectly, 7,181,622 shares representing 8.68 per cent of the issued and outstanding common shares of the company, Mr. Gagnon will control 223,000 shares representing 0.27 per cent, Ms. Levasseur will control 507,606 shares representing 0.61 per cent, Mr. Tourillon will control 420,481 shares representing 0.51 per cent, and Mr. Rivard will control 165,563 shares for 0.20 per cent.

The participation of Mr. Levasseur, Mr. Rivard, Ms. Levasseur, Explolab Inc. (Mr. Gagnon) and Mr. Tourillon in the private placement constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, and TSX Venture Exchange Policy 5.9 -- Protection of Minority Security Holders in Special Transactions. In connection with this related party transaction, the company is relying on the formal valuation and minority approval exemptions of subsections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the portion of the private placement subscribed by insiders does not exceed 25 per cent of the company's market capitalization. The board of directors of the company has approved the private placement, including the participation of said Mr. Levasseur, Mr. Rivard, Ms. Levasseur, Explolab Inc. and Mr. Tourillon.

About Beauce Gold Fields Inc.

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 predates 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 (50 ounces to 71 ounces).

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