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Beauce Gold Fields Enhances Historical Maps of The Largest Placer Gold Mines in Eastern Canada

MONTREAL, July 08, 2019 (GLOBE NEWSWIRE) -- Beauce Gold Fields (Champs D’Or en Beauce) (BGF) (TSX Venture: ¨BGF¨) is pleased to announce it has completed digital enhancements of historical maps of former gold mining companies that were once active on the company’s St-Simon Les Mines property.  By studying old maps, pertinent details could be extrapolated that might provide information in our exploration efforts to find a lode gold deposit as to the origins of the gold placers mined in the 19th & 20th centuries.

Patrick Levasseur, President and CEO of Beauce Gold Fields, said, "Studying historical documents is an import part of our exploration program. By scrutinizing all available documents, some dating back to 1860s,  valuable information that could potentially lead to a lode gold discovery of the St-Simon-les-Mines placers could be identified.”  Mr Levasseur further stated, “In fact, it was by following up on old historical accounts that the multi-million ounce White Gold deposit in the Yukon was found.  This was the first time since the Klondike Gold Rush that a lode gold deposit was found as the source of a  placer gold deposit.”

Newly discovered 1910 historical placer gold mine

Two 1910 blueprints of the Champ D’Or Rigaud Vaudreuil company placer gold mine are the only documents know to date that indicate that an underground placer mine once operated on Rang St-Gustave Road. A 1935 areal photograph revealing mine works corroborated the existence of the St-Gustave mine.  The mine was in the path of the 1960s gold dredging operation and the area was subsequently completely stripped by the electric dragline that worked ahead of the Yuba dredge.  Today, no surface evidence of the mine remains.  Life of mine and or gold recovered is unknown.  Source GM17056-B, Areal photo National Air Photo Library of the Natural Resource Archives of Canada.

1986 Compilation Map of the Gilbert River Placer Gold Channel

Interest in the Beauce was renewed in 1985 when the Quebec government took back mineral rights from landowners and made southern Quebec available for staking.  Coniagas Mines Ltd. (“Coniagas”) and Macamic Resources Inc. (“Macamic”) investigated the Beauce property with extensive overburden RC-drilling along the placer gold channel.  Digital enhancements and colorization of some of the maps has help with image overlays to geo-locate features for data compilation. The example above (image one) is a compilation map outlining the historical placer gold channel along 4.5 km delimited by three periods (1898, 1958 and 1986).

Also of interest is the indication of a historical placer gold reserves measured along various segments of the placer channel. Source: GM42988, Beauce Gold Fields 43-101 Report July 4, 2018.

The reader is reminded that all discussions on historical mineral estimates or gold grades shown within the images of this press release are largely based on historical data in the terms of the current NI 43-101 conventions; and that Beauce Gold Fields has not done sufficient work to a) validate gold grades and b) to classify the historical estimates as current mineral resources or mineral reserves; and that the Company is not treating the historical estimates as current mineral resources or reserves.

Robert Gagnon, P. Geo., a qualified person as defined by NI 43-101, has reviewed and approved the technical information presented in this release.

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 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 of 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 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility 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

Three maps accompanying this announcement are available at :

https://www.globenewswire.com/NewsRoom/AttachmentNg/cee77260-fbfa-427d-bd68-7a25f1570563

https://www.globenewswire.com/NewsRoom/AttachmentNg/75b6a028-35ce-4834-9ba1-2eefbe2cb6d0

https://www.globenewswire.com/NewsRoom/AttachmentNg/19be7520-34f5-4ae8-90b1-1d8ccda5600d