Acquires Mineral Claims Contiguous to the Swanson Gold Project, Québec
VANCOUVER, B.C. – February 28, 2025
LaFleur Minerals Inc. (CSE: LFLR, OTCQB: LFLRF, Frankfurt: 3WK0) (“LaFleur Minerals” or the “Company”) is pleased to provide an update on its plans to restart production activities at its 100%-owned Beacon Gold Mill in Val-d’Or, Québec, Canada (see Figure 1 and Figure 2).
The Beacon Gold Mill is located in a highly prospective mining region for gold exploration on the mineral-rich greenstone Abitibi Belt, an area with over 100 historical and currently operating mines.
Beacon Gold Mill is Fully Permitted
The fully refurbished Beacon Gold Mill was last fully operational in early 2023 when gold was priced at USD$1,800 per ounce. It has been under care and maintenance since that time.
With gold approaching USD$3,000 per ounce, restarting the Beacon Gold Mill presents an exceptional opportunity. LaFleur Minerals also intends to pursue custom milling of mineralized material from nearby gold deposits surrounding the Beacon Mill.
Key Production Target
- Annual production of approximately 30,000 to 40,000 ounces of gold based on current mill capacity.
- Restart costs are being finalized, with all permits and updates expected to be completed by the end of Q2 2025.
Strategic Benefits
- Proximity to numerous gold deposits in the Val-d’Or region.
- Potential for custom milling agreements with neighboring mining companies (see Figure 3).
Operational Readiness and Environmental Compliance
Paul Ténière, CEO of LaFleur Minerals, stated:
“We continue to make great progress in achieving key operational readiness milestones at the Beacon Mill, including ongoing inspections of all equipment and systems and ensuring an adequate supply of spare parts.”
- ABF Mines is finalizing a detailed restart plan and cost estimate, expected within weeks.
- Environmental monitoring and sampling requirements are ongoing under provincial and federal regulations.
- Fish and wildlife studies within the tailings storage facility (TSF) are being completed.
- Consultants are evaluating TSF upgrades in preparation for production restart.
Swanson Gold Project Update
The Swanson gold project spans over 15,000 hectares and includes multiple gold and critical metals prospects previously held by Monarch Mining, Abcourt Mines, and Globex Mining.
Key Project Highlights
- Covers a major structural break hosting the Swanson, Bartec, and Jolin gold targets.
- Accessible by road with a rail line running through the property, directly connecting to nearby gold mills.
- Over 36,000m of drilling completed to date.
Current Mineral Resources
- Indicated Mineral Resource:
- 2,113,000 t @ 1.8 g/t gold = 123,400 oz of gold.
- Inferred Mineral Resource Estimate:
- 872,000 t @ 2.3 g/t gold = 64,500 oz of gold.
(Source: NI 43-101 technical report, effective September 17, 2024, filed on SEDAR+)
- 872,000 t @ 2.3 g/t gold = 64,500 oz of gold.
Proximity to Beacon Gold Mill
The Swanson Gold Project is located within 50 km of the fully-permitted Beacon Gold Mill. The project includes:
- A mining lease that can be permitted for bulk sampling and future mining.
- Jolin target (Au) - Historical Mineral Resource Estimate (source: GESTIM - 1996, GM62629 - historical estimate not NI 43-101 compliant).
- Bartec target (Au) - Historical Mineral Resource Estimate (source: GESTIM - DV 87-01 - historical estimate not NI 43-101 compliant).
Recent Exploration Activities
- High-resolution airborne magnetics & VLF-EM geophysics over the entire Swanson Gold Deposit.
- Oriented soil geochemistry and prospecting program (conducted by IOS Géosciences) - final assay results pending.
- Induced Polarization (IP) & Resistivity Ground Geophysics Survey:
- 166 line-km surveyed in February 2025 at 200 m line spacings.
- Covers Swanson, Bartec, and Jolin deposits — all advanced gold targets.
Permitting and Future Exploration
- Permitting is being expedited to evaluate Swanson as a source of mineralized material for the Beacon Mill.
- Aggressive spring and summer drilling program planned to increase the mineral resource.
- Evaluating open-pit mining potential at Swanson with plans to advance to Pre-Feasibility Study and mine permitting.
Acquisition of Adjoining Claims
LaFleur Minerals has signed a Property Purchase Agreement (dated February 28, 2025) with arm’s length vendors for 17 mining claims totaling 699 hectares, contiguous with the Swanson Gold Project in the Barraute region, north of Val-d’Or.
Acquisition Terms
- Cash payment: $15,000.
- Issuance of 150,000 common shares within 7 business days of CSE approval.
- Shares will be subject to a statutory 4-month hold period from closing.
Additional Information
For more background on the Beacon Gold Mill and Swanson Gold Project, visit:
https://lafleurminerals.com/valdor
LaFleur Minerals Attending PDAC Conference in Toronto – March 2 to 5
Meet Paul Ténière (CEO), Louis Martin (Technical Advisor/Exploration Manager), and Jean LaFleur (Senior Advisor) at the Toronto Metro Convention Centre from March 2 to 5.
Book a 1-on-1 meeting to discuss LaFleur’s recent developments and future plans for Swanson and Beacon.
- Contact: info@lafleurminerals.com
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
Figure 3: Map of nearby gold deposits within a 50 km radius of the Beacon Gold Mill
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 a Qualified Person under NI 43-101.
About LaFleur Minerals Inc.
LaFleur Minerals Inc. (CSE: LFLR, OTCQB: LFLRF, Frankfurt: 3WK0) focuses on developing district-scale gold deposits in the Abitibi Gold Belt near Val-d’Or, Québec.
Core Assets
- Swanson Gold Deposit (15,000 hectares / 150 km²).
- Fully-refurbished, permitted Beacon Gold Mill, capable of processing over 750 t/day.
LaFleur’s strategy combines advancing the Swanson resource, custom milling at Beacon, and leveraging regional infrastructure to maximize value.
Contact
Paul Ténière, P.Geo.
Chief Executive Officer
Email: info@lafleurminerals.com
LaFleur Minerals Inc.
1500-1055 West Georgia Street, Vancouver, BC V6E 4N7
Disclaimer
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statement
This news release includes certain statements that may be deemed “forward-looking statements”. Forward-looking statements in this news release include, but are not limited to, statements about the Offering and the Company's expectations with respect to the foregoing. Factors that could cause future results to differ materially from those anticipated in forward-looking statements in this news release include the tax treatment of the FT Shares. All statements in this new 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 are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, political and regulatory risks associated with mining and exploration, risks related to environmental regulation and liability, the potential for delays in exploration or development activities or the completion of feasibility studies, risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits, risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, results of prefeasibility and feasibility studies, the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
