Acquires Mineral Claims Contiguous
to the Swanson Gold Project, Québec
Vancouver, British Columbia, Canada -- March 3, 2025 --
InvestorsHub NewsWire -- LaFleur Minerals Inc.
(CSE:
LFLR) (OTCQB:
LFLRF) (FSE: 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
(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 entirely refurbished Beacon Gold Mill was last fully
operational in early 2023 when the price of gold was USD$1,800 per
ounce and has been under care and maintenance since that time. As
gold approaches a record price of USD$3,000 per ounce, the goal of
restarting the Beacon Gold Mill in the coming months is an
exceptional opportunity for LaFleur Minerals to also target the
custom milling of mineralized material from nearby gold deposits
that surround the Beacon Mill. LaFleur Minerals demonstrates
significant upside potential by ultimately generating revenue at
the current elevated gold prices, with the restart of the Beacon
Mill targeting a potential annual production scenario of
approximately 30,000 to 40,000 ounces of gold based on the current
mill capacity. The Company is currently finalizing the restart
costs for the Beacon Mill and expects to have all permits and
updates completed by the end of Q2 2025.
The entire LaFleur Minerals team has been collectively working
toward a successful restart of the Beacon Mill. With the current
increase in the price of gold and the fully-permitted Beacon Mill
that lies within the prolific Abitibi Gold Belt in the Tier 1
mining district of Val-d'Or, Québec, LaFleur Minerals has a great
opportunity to eventually produce gold at Beacon with gold prices
at record levels. LaFleur Minerals is now approaching the finish
line on many of the fundamental pieces that support this goal
including assessing nearby advanced gold deposits and initiating
discussions with neighbouring mining companies that could utilize
the Beacon Mill to process their bulk samples and future
mineralized material through a custom milling agreement for
numerous gold deposits in the Val-d'Or region surrounding the
Beacon Mill (Figure 3).
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. The highly experienced team at ABF Mines has been diligently
working to finalize a detailed plan and the cost to restart the
mill with results expected within the next few weeks. We also
continue to meet our environmental monitoring and sampling
requirements under our permit to operate, which includes completion
of fish and wildlife studies within the tailings storage facility
(TSF) as required under both provincial and federal environmental
regulations. Our consultants are also working with us to evaluate
required upgrades to the TSF as we move towards restarting
production at the Beacon Mill."
Please find video with Lafleur Minerals Beacon Mill Update
here: https://lafleurminerals.com/
SWANSON
GOLD PROJECT UPDATE
The Swanson gold project is over 15,000 hectares in size and
includes several prospects rich in gold and critical metals
previously held by Monarch Mining, Abcourt Mines and Globex Mining.
The consolidated Swanson Gold Project covers a major structural
break that hosts the Swanson, Bartec, and Jolin gold targets and
numerous other showings which make up the Swanson gold project. The
Swanson gold project is easily accessible by road with a rail line
running through the property, allowing direct access to several
nearby gold mills and further enhancing its development potential.
The Swanson gold project has had in excess of 36,000m of
drilling.
(MRE source: NI 43-101 technical report, effective September
17, 2024, filed on the Company's SEDAR+ profile).
- Bartec target (Au): Historical Mineral
Resource Estimate.
(source: GESTIM - DV 87-01 - historical estimate not compliant
NI 43-101)
Recent Exploration Activities:
-
High-resolution airborne magnetics and VLF-EM geophysics
program:
-
Oriented soil geochemistry and prospecting
program:
-
Induced Polarization (IP) - Resistivity Ground
Geophysics Survey:
-
A total of 166 line-km will be
surveyed in February 2025 at 200 m line
spacings.
-
This will cover the Swanson, Bartec, and Jolin
deposits, all of which are advanced gold targets with
current and historical mineral resources.
-
LaFleur Minerals is currently working with its consultants to
expedite permitting of the Swanson Gold Project with a focus on
evaluating its potential to supply mineralized material to the
Beacon Gold Mill.
-
LaFleur Minerals is also completing an IP ground geophysics
survey on its Swanson Gold Project and is planning
an aggressive drilling program for this
spring and summer to increase the existing mineral resource for the
project including incorporating the Bartec, Jolin, and other gold
targets. Other ongoing work includes evaluating the open-pit mining
potential of the mining lease at the Swanson gold deposit and
planning to advance to a Pre-Feasibility Study and mine
permitting.
ACQUIRES
ADDITIONAL CLAIMS ADJOINING THE SWANSON GOLD
PROJECT
The Company is also pleased to announce that it has entered into
a Property Purchase Agreement with third-party arm's length vendors
(the "Vendors") dated February 28, 2025 (the
"Agreement"). Under the terms of the Agreement,
the Company is entitled to acquire 100% interest to 17 mining
claims covering approximately 699 hectares (the
"Claims") contiguous with the Company's Swanson
Gold Project ("Swanson") in the Barraute region,
north of Val-d'Or, Québec. These Claims are located east of the
Swanson gold deposit and mining lease held by LaFleur Minerals.
The acquisition terms for the Claims consists of a cash payment
totaling $15,000 and the issuance of 150,000 common shares of the
Company to the Vendors within 7 business days of approval of the
Agreement by the Canadian Securities Exchange
("CSE"). The common shares issued under the
Agreement are subject to a statutory hold period in Canada expiring
four (4) months and one day from the closing date.
For further background information on the Beacon Gold Mill and
Swanson Gold Project please refer to the Company's website and
recent videos at the following link: https://lafleurminerals.com/valdor.
LAFLEUR
MINERALS ATTENDING PDAC CONFERENCE IN TORONTO - MARCH 2 TO
5
Connect with LaFleur Minerals CEO, Paul Ténière, Technical
Advisor/Exploration Manager, Louis Martin, and Senior Advisor, Jean
LaFleur, March 2 to 5 at the Toronto Metro Convention Centre for a
1-on-1 meeting to discuss the Company's recent developments and
plans moving forward for its Swanson Gold Project and Beacon Gold
Mill. Contact info@lafleurminerals.com to book in advance.
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 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 Deposits in the
Abitibi Gold Belt near Val-d'Or, Québec. Our mission is to advance
mining Deposits with a laser focus on our resource-stage Swanson
Gold Deposit and the Beacon Gold Mill and Property, which have
significant potential to deliver long-term value. The Swanson Gold
Deposit is over 15,000 hectares (150 km2) in size and
includes several prospects rich in gold and critical metals
previously held by Monarch Mining, Abcourt Mines, and Globex
Mining. LaFleur has recently consolidated a large land package
along a major structural break that hosts the Swanson, Bartec, and
Jolin gold deposits and several other showings that make up the
Swanson Gold Deposit. The Swanson Gold Deposit is easily accessible
by road with a rail line running through the property allowing
direct access to several nearby gold mills, further enhancing its
development potential. Lafleur Minerals' fully-refurbished and
permitted Beacon Gold Mill is capable of processing over 750 tonnes
per day and is being considered for processing mineralized material
at Swanson and for custom milling operations for other nearby gold
Deposits.
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". 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.
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