Beauce GOLD Fields Awaits 250 ROCK Outcrop Results and Completes 3 Additional IP Survey Lines over the Former GOLD Mines of Saint-Simon-Les-Mines
January 3, 2020, Montreal, Quebec, Canada Symbol: TSX.V: BGF
News release – for immediate distribution Shares outstanding: 20,734,166
BEAUCE GOLD FIELDS AWAITS 250 ROCK OUTCROP RESULTS AND COMPLETES 3 ADDITIONAL
IP SURVEY LINES OVER THE FORMER GOLD MINES OF SAINT-SIMON-LES-MINES
Beauce Gold Fields (Champs D’Or en Beauce) (BGF) (TSX Venture: ¨BGF¨) is pleased to
announce it has complete d three additional geoelectric induced polarization (IP) survey lines
conducted in the western section (Rang Delery) of the Beauce Gold property in the town of St-
Simon-Les-Mine located in the Beauc e region in southern Quebec. The IP lines paralleled two
previously completed IP lines (BGF press release August 6 th 2019) that identified a
southwesterly extension of the major fault that strikes through the property (press release
October 3 rd 2019). The extended IPs will allow the Company to potentially identify hidden
zones of mineralized rock outcrops buried under glacial till overburden that can be excavated
for channel sampling.
The res ults from previous IP and geophysics surveys indicate the presence of a structural
discontinuity interpreted as the southwesterly extension of a major fault that follows the
contour of the historical placer gold channel and mining shafts that produced the largest gold
nuggets in Canadian mining history . Induced polarization anomalies suggest the presence of
disseminated sulphides in volcaniclastic rocks. These sulphides may be associated with the
presence of gold mineralization in the bedrock.
Patrick Levasseur, President and CEO of Beauce Gol d Fields, said, "Our extensive use of
geophysics has provided amazing d iscoveries thus far like that of a major fault line beneath the
historical placer gold channel." Mr. Levasseur added: "As we stated in last months press release
(December 5th), we are expecting 250 rock outcrops and numerous trench sample results from
the laboratory. This is the largest sampling program ever conducted of the rocks that surrounds
the historical placer gold channel. It will provide valuable data in our exploration efforts to find
a bedrock source of the gold-bearing placers of Saint-Simon-les-Mines“
The location of the additional three lines of the geoelectric IP survey is shown on the Figure 1
map. The lines are located in a wooded area and cross es the Gilbert River before and after the
confluence with Giroux Creek . The lines were established based on previous IP results and the
gold potential of the area as evidenced by the large number of gold bearing shafts.
The geoelectri c tomography survey demonstrated the presence of distinct lithological blocks
located on both si des of the Gilbert River. North of the river, the rocks are systematically more
resistive. This observation implies the presence of contact between units of sedimentary rocks
in the south (St -Victor Formation), which shows relatively few induced plolarizat ion anomalies,
and volcaniclastic dominant units (Beauceville Formation) in the north of the Gilbert River. The
latter being characterized by strong anomalies of electrical chargeability. As observed in the
field, volcaniclastic units are affected by britt le deformation frequently associated with the
injection of quartz veins and carbonates. In contrast, these structures are infrequent in the
shale-rich units of the St-Victor Formation.
Figure 1 - Location map of the three new geoelectric IP survey lines
The faulted contact between the St -Victor and Beauceville Formations is further indicated by
the magnetic and gravity contrasts observed in this sector. These contrasts of physical
properties of the rock units can not be explained by a simple synclinal s tructure. As a result, the
presence of a fault is highly likely in the Gilbert River area. Note that Line 2 p asses near old gold
19th and 20th century mining shafts.
Marc Richer-LaFlèche, Ph.D. Geo ., a qualified person as defined by NI 43-101, has reviewed and
approved the technical information presented in this release.
On December 31, 2019, t he Company has closed a private placement of 30 Flow Through and
Hard Cash units ("Unit") at $1,000 per Unit for a gross proceeds of $ 30,000. Each Unit is
comprised of 4000 flow -through common shares at $0.15 per share , 4000 common shares at
$0.10 per share and 4000 common share purchase warrants ( Warrants) of the Company. Each
Warrant will entitle the holder thereof to purchase one common share of the c apital stock of
the Company at an exercise price of $ 0.18 for a period of 24 months from the date of closing of
the placement. Each share issued pursuant to the placement will have a mandatory four (4)
month and one (1) day holding period from the date of closing of the placement. The Company
will use the proceeds from the private placement for general corporate purposes.
Mr. Patrick Levasseur, President and CEO of BGF has subscribed for 5 Units. Following the
completion of the Priv ate Placement, Mr. Leva sseur will own or exercise control or direction
over, directly or indirectly, a number of Common Shares, representing approximately 4.83% of
the issued and outstanding Common Shares of the Company.
Mrs Ann Levasseur, Director of BGF has subscribed for 5 Units. Following the completion of the
Private Placement, Mrs. Levasseur will own or exercise control or direction over, directly or
indirectly, a number of Common Shares, representing approximately 0.51% of the issued and
outstanding Common Shares of the Company.
The participation of Mr Patrick Levasseur and of Mrs Ann Levasseur 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 ("MI 61 -101") and Policy 5.9 -
Protection of Minority Security Holders in Special Transactions of the Exchange. In connection
with this related party transaction, the Company is relying on the formal valuation and minority
approval exemptions of respectively subsection 5.5(a) and 5.7(1)(a) of MI 61 -101 as the fair
market value of the portion of the Private Pl acement subscribed by Mrs Levasseur does not
exceed 25% of the Company's market capitalization. The Board of directors of the Company has
approved the Private Placement, including the particip ation of Mr Patrick Levasseur and Mrs
Ann Levasseur therein, whom abstaining with respect to his participation.
About Beauce Gold Fields
Beauce Gold Fields is a gold exploration company focused on place r to hard rock exploration in
the Beauce region of Southern Quebec. The Company’s flagship property is the St -Simon-les-
Mines Gold project, a unique, historically significant gold property located in the municipality of
Saint-Simon-les-Mines. Comprising o f a block of 152 claims as well as 7 real estate lots, the
project area hosts a six kilometre long unconsolidated gold -bearing sedimentary unit (a lower
saprolite and an upper brown diamictite). Textural observations (angularity) of gold nuggets
suggest a relatively proximal source and therefore a short transport distance. The gold in
saprolite indicates a close proximity to a bedrock source of gold, providing possible further
exploration discoveries. The property was host to Canada’s first gold rush before the one in the
Yukon Klondike. It hosts some of the largest historical placer gold mines in Eastern North
America that were active from 1860s to the 1960s (see HPQ SEDAR -filed July 4 2018 43 -101
report).
Beauce Gold Fields website www.beaucegold.com
BGF Presentation: http://beaucegold.com/wp-content/uploads/2019/04/BGF-Presentation-
20191.pdf
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 w hich 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 ac tual 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 Compa ny 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 res ult 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 respo nsibility for the adequacy or accuracy of
this release.
For further information contact
Patrick Levasseur, President and CEO Tel: (514) 262-9239
Bernard J. Tourillon, Chairman and COO Tel (514) 907-1011
www.beaucegold.com