Beauce Gold Fields drilling Beauce gold project, Quebec

Beauce Gold Fields Inc. [TSXV: BGF] has begun diamond drilling at the Grondin zone, located within its Beauce gold project in Beauceville, Quebec.

This program follows the company’s February 9, 2026, announcement outlining a planned drill campaign of up to 1,500 metres targeting the Saddle Reef antiform structure.

The 2026 drill campaign will be conducted in two phases. Phase 1 consists of five diamond drill holes totalling approximately 500 metres. Phase 2 will follow to test of the induced polarization (IP) Grondin zone anomaly PP-2, incorporating results from phase 1 and additional geophysical work to refine targeting along strike and identify new zones.

Patrick Levasseur, president and CEO, commented: “Having the drill now on site marks an important step forward in advancing the Saddle Reef discovery. Phase 1 is designed to test depth extensions and validate continuity of mineralization while phase 2 will allow us to refine and expand our targeting based on real-time results and additional geophysics.”

Phase 1 drill program – Grondin zone: The initial phase 1 program is designed to test the downdip continuity of known mineralized zones and evaluate new geophysical targets.

Hole GR-26-01: This 100-metre hole will test the mineralized zone approximately 100 metres southwest and at greater depth (approximately 60 metres vertical) compared with hole GR-25-08 (approximately 30 metres vertical).

Hole GR-26-02 is planned to 75 metres at minus 50 degrees, targeting approximately 60 metres vertical depth to test the northwestern flange of the antiform and under hole GR-25-02.

Holes GR-26-03 and GR-26-04: These holes of approximately 130 metres are designed to test the Grondin zone at depth, stepping back from previous holes GR-25-05 and GR-25-06. Depending on results, the holes may be extended to greater depth (up to 300 metres). These holes aim to determine whether the mineralized zone widens or persists at depth and to test for additional zones beneath the Grondin showing.

Hole GR-26-05: Planned to a depth of approximately 55 metres, this hole will test the induced polarization (IP) anomaly PP-1. In addition, this will be the northeasternmost hole in the Grondin zone and will help determine whether the mineralized zone extends farther to the northeast.

Phase 2 will follow-up and target expansion. Phase 2 of the program will be planned based on results from phase 1: Testing of the induced polarization (IP) anomaly PP-2; additional geophysical surveys to be carried out laterally along the structure toward the northeast.

This phase is expected to refine drill targeting and test newly identified zones, further evaluating the scale and continuity of the mineralized system.

Grondin zone – exploration background: The Grondin zone has been the focus of systematic exploration by Beauce Gold Fields since 2023, including multiple diamond drill campaigns, geophysical surveys, geological mapping and limited bulk sampling.

Drilling completed in 2023 and 2025 confirmed structurally controlled gold mineralization associated with a Saddle Reef antiform geometry, with mineralization traced over several hundred metres and remaining open both along strike and at depth.

The Grondin zone forms part of the company’s broader exploration strategy aimed at identifying the bedrock sources of the historic Beauce placer gold deposits. Drilling to date has confirmed gold-bearing mineralization along the Saddle Reef structure over a strike length of approximately 4 km from the Grondin zone. Subsequent induced polarization (IP) surveys and integrated geological interpretation have outlined an approximately 8 km antiform structural corridor, providing a large-scale framework for continuing exploration.

Based on geological, structural and geochemical observations, the company interprets this antiform-hosted structure as one of the likely bedrock sources contributing to the historical placer gold deposits within the Saint-Simon-les-Mines paleoplacer channel.

Beauce Gold’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 Saint-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 (greater than 50 oz).

Beauce Gold Fields is currently drilling recently discovered antiform systems that are believed to have contributed to the development of extensive auriferous placer deposits in Beauce. The company’s geological model suggests that placer gold within the Beauce gold paleochannel, including large nuggets from the 19th century, formed in stressed quartz pockets within layered domed axes of antiforms, exemplified by Saddle Reef formations. Notable global Saddle Reef formations include the Bendigo gold fields in Australia (over 60 million oz) and the high-grade Dufferin deposit in Nova Scotia.