VANCOUVER, BC – March 27, 2025 — LaFleur Minerals Inc. (CSE: LFLR, OTCQB: LFLRF, FSE: 3WK0) (“LaFleur Minerals” or the “Company”) is pleased to announce that it has entered into a Memorandum of Understanding (“MOU”) with Granada Gold Mine Inc. (“Granada”) (collectively, the “Parties”) dated March 25, 2025, to assess the design criteria for processing mineralized material from the Granada Gold Project (“Granada Gold” or the “Project”) at the Company’s 100%-owned and fully permitted Beacon Gold Mill, located in Val-d’Or, Québec, Canada.
MOU Purpose and Potential Outcomes
If off-site processing of Granada Gold mineralized material at the Beacon Gold Mill is deemed viable by both parties:
- The Parties have the option to enter into a commercial agreement.
- A mining and economic study may be undertaken to further evaluate processing at the Beacon Gold Mill.
This study would consider:
- Mine design and mining methodology
- Mining and processing rates
- Gold production profile
- Facilities requirements
- Development schedules
- Overall project economics
CEO Statement
Paul Teniere, CEO of LaFleur Minerals, commented:
“Hub-and-spoke mining and milling arrangements have long been a feature of mining in the Abitibi Gold Belt in Québec.
With the price of gold having risen from USD$2,000 per ounce to nearly USD$3,000 per ounce over the past 12 months, we are excited to look at potentially custom milling mineralized material from the Granada Gold deposit.
Today, we are announcing the first step in assessing the viability of such an arrangement for the Granada Gold deposit as part of the Beacon Gold Mill restart project.
The MOU with Granada will facilitate the preliminary technical work required to assess the compatibility of the Granada Gold deposit with the Beacon Gold Mill.
The Beacon Gold Mill is directly accessible to the Granada Gold deposit via truck hauling on paved highway and possibly rail shipping.
With offsite processing and tailings disposal, the Granada Gold deposit could potentially be a low-cost, low-impact, and highly profitable mining operation.
The MOU with Granada Gold contains no commercial terms regarding how mineralized material from the Granada Gold deposit to Beacon Gold Mill would be arranged.
However, further discussions between the two parties are contemplated upon the successful completion of this preliminary technical work.”
Terms of the MOU
- The MOU facilitates the exchange of technical data between LaFleur Minerals and Granada Gold.
- Topics include:
- Metallurgy
- Flow-sheet configuration
- Potential mill modifications
- Future processing and tailings disposal capacity
- Each Party will be responsible for its own costs associated with this work.
- ABF Mines Inc. has been retained by LaFleur Minerals to conduct the assessment.
- A metallurgical work program has already commenced at the Granada Gold deposit.
- The MOU is:
- Non-binding
- Non-exclusive
- Contains no specific terms around potential commercial arrangements.
- There is no certainty that any arrangement between the Parties will result from dealings pursuant to the MOU.
LaFleur Minerals Core Assets
Beacon Gold Mill
- Fully-refurbished and permitted.
- Processing capacity: Over 750 tonnes per day.
Key Details:
- Last fully operational in early 2023 when gold was USD$1,800 per ounce.
- Under care and maintenance since then.
- Gold now approaching USD$3,000 per ounce.
- Restart of the Beacon Gold Mill presents a strong opportunity.
- Aimed at custom milling mineralized material from nearby deposits.
- Potential annual production: 30,000 to 40,000 ounces of gold based on current capacity.
- Restart costs being finalized.
- All permits and updates expected by end of 2025.
Figures:
- Figure 1: Photo of interior of Beacon Mill currently undergoing detailed inspections for restart
- Figure 2: Photo of exterior of Beacon Mill in Val-d’Or, Québec
Swanson Gold Project
- Size: Over 16,000 hectares
- Includes several gold and critical metals prospects previously held by:
- Monarch Mining
- Abcourt Mines
- Globex Mining
- Project covers a major structural break hosting:
- Swanson Gold Deposit
- Bartec and Jolin gold targets
- Numerous other showings
- Accessibility:
- Easily accessed by road
- Rail line runs through the property
Swanson Gold Deposit Resources
- Indicated Mineral Resource:
- 2,113,000 t
- Average grade: 1.8 g/t gold
- Containing: 123,400 oz of gold
- Inferred Mineral Resource Estimate:
- 872,000 t
- Average grade: 2.3 g/t gold
- Containing: 64,500 oz of gold
(MRE source: NI 43-101 technical report, effective September 17, 2024, filed on the Company’s SEDAR+ profile).
Additional Assets Within 50 km of Beacon Gold Mill
- Mining lease: Permittable for bulk sampling and future mining
- Jolin Target (Au): Historical Mineral Resource Estimate
(source: GESTIM -1996, GM62629 – not NI 43-101 compliant) - Bartec Target (Au): Historical Mineral Resource Estimate
(source: GESTIM – DV 87-01 – not NI 43-101 compliant)
Figure 3: Swanson Gold Project and other gold deposits within 50 km of the Beacon Gold Mill
Strategic Vision
LaFleur Minerals’ strategy includes:
- Advancing the Swanson Gold Deposit resource estimate
- Custom milling at the Beacon Gold Mill
- Leveraging regional infrastructure to maximize value
Qualified Person Statement
All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo., Technical Advisor to the Company and considered a Qualified Person for the purposes of NI 43-101.
About LaFleur Minerals Inc.
LaFleur Minerals Inc. (CSE: LFLR, OTCQB: LFLRF, FSE: 3WK0) is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d'Or, Québec.
- Core focus:
- Swanson Gold Project
- Beacon Gold Mill
- The Swanson Gold Project is over 16,000 hectares (160 km²).
- Hosts several gold and critical metal prospects.
- Recently consolidated a large land package along a major structural break.
- Includes:
- Swanson, Bartec, and Jolin gold deposits
- Several other showings
- Property features:
- Road accessibility
- Rail access to nearby gold mills
- The Beacon Gold Mill is:
- Fully refurbished and permitted
- Capable of processing over 750 tonnes per day
- Considered for processing Swanson material and custom milling from other projects
Contact Information
ON BEHALF OF LAFLEUR MINERALS INC.
Paul Ténière, P.Geo.
Chief Executive Officer
📧 E: info@lafleurminerals.com
Address:
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding “Forward-Looking” Information
This news release includes certain statements that may be deemed “forward-looking statements.”
These statements:
- Are not historical facts.
- May be identified by terms such as:
“expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions.
Forward-looking statements in this release include, but are not limited to:
- Statements related to the use of proceeds from the Offering.
Note:
Although the Company believes these statements are based on reasonable assumptions, they are not guarantees of future performance.
Actual results may differ materially due to:
- Market prices
- Availability of capital and financing
- General economic, market, or business conditions
Forward-looking statements reflect the beliefs, estimates, and opinions of the Company’s management as of the date made.
The Company assumes no obligation to update these statements unless required by applicable securities laws.
