VANCOUVER, BC – April 30, 2025 – LaFleur Minerals Inc. (CSE: LFLR, OTCQB: LFLRF, FSE: 3WK0) (“LaFleur Minerals” or the “Company”) is pleased to announce that it has initiated the permitting process to extract a surface bulk sample from its Swanson Gold Deposit located within a mining lease of the Company’s district-scale, Swanson Gold Project, positioned in the prolific Abitibi Gold Belt.
The bulk sample material will be processed at the Company’s 100%-owned and fully permitted Beacon Gold Mill, located in Val-d’Or, Québec, and approximately 50 km from Swanson.
Scoping Study and Project Development
If the processed surface bulk sample of mineralized material from Swanson is deemed viable, the intention is to complete a Scoping Study, which will include:
- Evaluating the processing of Swanson mineralized material at the Beacon Gold Mill
- Considering mine design, mining methodology, mining rate, and gold production profile
- Assessing facilities requirements, development schedules, and overall project economics
Two-Pronged Development Approach
The permitting process at Swanson is a first step in LaFleur’s two-pronged approach:
- Expand the current resource estimate at the Swanson Gold Project
- Launch operations for the intended gold production revival at Beacon Mill by year-end
Since the acquisition of both projects in 2024, LaFleur’s approach focuses on:
- Meeting key operational milestones
- Providing a clear path to production
- Rapidly transitioning from explorer to producer
Key Exploration and Bulk Sampling Highlights
- The bulk sample will be taken from a high-potential gold zone identified during exploration
- Historical near-surface drill results at Swanson include:
- 4.44 g/t Au over 36.0 m (BAR31-84)
- 3.62 g/t Au over 41.0 m (SW-03-07)
- The deposit’s location on a Mining Lease streamlines permitting for a larger bulk sample
LaFleur Minerals is currently evaluating a bulk sample of:
- Approximately 100,000 t
- Estimated average grade of 1.89 g/t Au
- Total contained gold content: ~6,350 oz
This represents approximately 3% of the current mineral resource estimate for the Swanson Project.
CEO Statement
Paul Ténière, CEO of LaFleur Minerals, commented:
“We are excited to begin this next step in advancing the Swanson gold deposit and developing a positive cash flow from the bulk sample collected within our mining lease. Combining and leveraging our near-surface Swanson gold deposit and fully permitted Beacon Mill gives us a unique opportunity to assess the project’s potential with minimal additional capital investment and to fast-track our development plans in the Abitibi region.
With the price of gold having risen exponentially over the past 12 months from USD$2,000 per ounce to a current record price approaching USD$3,500 per ounce, we are excited to look at generating a positive cash flow in the near term to further our exploration and development work.
The Swanson deposit is directly accessible by truck to the Beacon Mill via truck hauling on paved highway. With offsite processing and tailings disposal, the Swanson Gold Deposit could potentially quickly become a low-cost, low-impact, and highly profitable mining operation.”
Swanson Bulk Sampling Details
- The surface bulk sample will be collected on Mining Lease BM 885, registered with the Québec government
- No previous mining has been undertaken on this lease
- Initially applied for by Agnico-Eagle after a 2009 internal review and Scoping Study based on:
- Gold price of US$779 per ounce
- Exchange rate of 1.10 $C/$US
Strategic Advantages:
- Proximity to Val-d’Or and established mining communities
- Excellent road access, power infrastructure, and skilled local workforce
- Reduced costs and logistical challenges
Permitting Requirements:
- Restoration Plan to be submitted to MRNF
- Environmental Authorization to be acquired from MELCCFP
Further updates will be provided as the permitting process advances.
Beacon Mill Restart Update
- The Company is in the final stages of its restart plan and budget for the Beacon Mill
- Results expected by the end of April
- LaFleur is working with:
- Engineering and environmental team
- A selected geotechnical engineering firm to act as Engineer of Record (EOR) for the Beacon Tailings Storage Facility (TSF)
Swanson Gold Project Summary
- Size: Over 16,000 hectares
- Previous owners: Monarch Mining, Abcourt Mines, and Globex Mining
- Features: Structural breaks hosting the Swanson Gold Deposit, Bartec, and Jolin targets
Exploration History:
- Over 36,000 metres of historical diamond drilling
- Accessible by road
- Rail line through the property enables direct access to nearby gold mills
Swanson Gold Deposit Resource Estimates
- Indicated Mineral Resource:
- 2,113,000 t @ 1.8 g/t gold
- 123,400 oz of gold
- Inferred Mineral Resource:
- 872,000 t @ 2.3 g/t gold
- 64,500 oz of gold
(MRE source: NI 43-101 technical report, effective September 17, 2024)
Additional Targets:
- Jolin (Au): Historical estimate (GESTIM -1996, GM62629 – not NI 43-101 compliant)
- Bartec (Au): Historical estimate (GESTIM – DV 87-01 – not NI 43-101 compliant)
Figure 1: Swanson Deposit - 50 km from the Beacon Gold Mill
Beacon Gold Mill Summary
- Fully refurbished and permitted
- Processing capacity: 750+ tonnes per day
- Located in the Abitibi Gold Belt, a globally recognized gold mining region
Operational History:
- Last fully operational in early 2023
- On care and maintenance since then
- Gold prices now nearing USD$3,500 per ounce
Restart Opportunity:
- Targets 30,000–40,000 oz of gold/year
- Potential for custom milling from nearby deposits
- Restart planned for end of 2025
Figures 2 & 3
- Interior and exterior photos of Beacon Mill in Val-d’Or, Québec
Strategic Summary
LaFleur Minerals’ strategy combines:
- Advancing the Swanson Gold Deposit resource
- Custom milling at the Beacon Gold Mill
- Leveraging regional deposits and 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.
Highlights:
- Focus on Swanson Gold Project and Beacon Gold Mill
- Swanson Gold Project: Over 16,000 hectares
- Recently consolidated large land package with multiple targets
- Road access and rail connectivity to several nearby gold mills
- Beacon Gold Mill: 750+ t/day processing capacity
- Intended for processing Swanson material and custom milling
Contact Information
Paul Ténière, P.Geo.
Chief Executive Officer
📧 E: info@lafleurminerals.com
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.” All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements.
Forward-looking statements include:
- Use of proceeds from the Offering
- Assumptions about market prices, capital availability, and business conditions
Forward-looking statements are not guarantees of future performance. Actual results may differ materially due to:
- Market conditions
- Availability of financing
- Economic and business factors
The Company does not undertake to update forward-looking statements unless required by applicable securities laws.
