• LaFleur Minerals has begun a fully funded, 5,000-metre diamond drilling campaign at its Swanson Gold Project in Quebec.
• All required drilling permits have been received, including Forestry Intervention and Authorization to Intervene.
• Independent valuation pegs Beacon Gold Mill’s replacement cost at over C$71.5 million; Mill rehabilitation and commissioning estimated at C$4.1 million, presenting a low-cost path to near-term production.
• The company has expanded its land package to over 18,300 hectares, reinforcing its district-scale potential.

LaFleur Minerals (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0), a Canadian near-term gold producer, has initiated diamond drilling at its Swanson Gold Project in the prolific Abitibi region of Quebec, following receipt of key permits. The program, covering at least 5,000 metres of drilling, is focused on priority targets within the Swanson Gold Deposit and other promising zones, including Bartec, Jolin, and Marimac. According to the company, these zones were identified through detailed geological and geophysical work, including magnetic surveys, induced polarization (“IP”), and soil geochemistry analysis (https://ibn.fm/KGilj).

Drilling has already begun, and will test key structural, geological, geochemical and geophysical anomalies for additional gold mineralization potential, with additional details and assay results expected in the coming weeks.

At the same time, LaFleur completed an independent valuation of its Beacon Gold Mill, located in Val-d’Or. The evaluation, conducted by Bumigeme Inc., concluded that the mill is in “excellent condition.” Estimated rehabilitation and re-commissioning costs were pegged at C$4.1 million. Bumigeme’s report also calculated that the total cost to replace the mill, tailings facility, and permitting would exceed C$71.5 million, significantly more than the capital required to bring the current facility online. The mill’s C$4.1 million restart compared to C$71.5 million replacement value underscores its strong asset value and strategic importance, where restart is highly cost-efficient, pivoting LaFleur quickly into the region’s new vertically-integrated producer.

The Beacon Gold Mill, already fully permitted and capable of processing 750 tonnes per day, with potential to expand capacity over time, represents a potential advantage in a region with numerous advanced exploration and development-stage gold projects that could use closely located processing capability. Since the mill sits among over 100 active and historical mining sites, it offers both logistical and operational synergies, moreover, its proximity to the Swanson Gold Project (approximately 50 km away) enhances its strategic role in processing locally sourced mineralized material from its own assets, which potentially boosts margins and enhances control. LaFleur plans to integrate the mill’s valuation into an upcoming Preliminary Economic Assessment (“PEA”) for the Swanson project.

Beyond its mill asset, LaFleur continues to build scale in its exploration footprint. The company recently staked an additional 32 mineral claims, extending the Swanson Project’s area to 18,304 hectares across 445 claims and one mining lease. This expansion increases the project’s strike length to over 33 kilometres and consolidates control over a major structural break in the Abitibi region. 

This structural corridor hosts a range of gold occurrences, including the Swanson, Bartec, and Jolin deposits, and has been the site of more than 36,000 metres of historical drilling. LaFleur’s ongoing work aims to integrate legacy data with new high-resolution surveys to define new mineralization zones. 

LaFleur Minerals CEO Paul Ténière said the company was very pleased with the results of the evaluation as it truly shows the milling asset’s potential. “Our technical team has also done an exceptional job integrating historical exploration data with new geophysical and geochemical datasets to define compelling drilling targets at Swanson. Receiving the required permits clears the way for us to advance one of the most exciting exploration and drilling campaigns in the region,” Ténière added. “Not only are we launching a fully funded, data-driven drilling program, but we’ve also strategically expanded our land position in a way that meaningfully increases our discovery potential.”

The next step for the company is to secure the necessary financing to complete the rehabilitation and re-commissioning of the Beacon Gold Mill, with the aim to complete the mill restart program by early 2026.

For more information, visit the company’s website at LaFleurMinerals.com.

Qualified Person Statement:

All scientific and technical information contained in this article has been reviewed and approved by Louis Martin, P.Geo. (OGQ), Exploration Manager and Technical Advisor of the Company and considered a Qualified Person for the purposes of NI 43-101.

NOTE TO INVESTORS: The latest news and updates relating to LFLRF are available in the company’s newsroom at ibn.fm/LFLRF

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