LaFleur
Minerals Provides Update on Beacon Mill Restart, Results of Annual
General and Special Meeting, and Swanson Gold Deposit Exploration
and Drilling Updates
Vancouver, British Columbia, Canada -- March 21, 2025 --
InvestorsHub NewsWire -- LaFleur Minerals Inc.
(CSE:
LFLR) (OTCQB:
LFLRF) (FSE: 3WK0) ("LaFleur
Minerals" or the "Company") is pleased to
provide the following corporate updates.
BEACON
GOLD MILL RESTART AND SWANSON GOLD PROJECT UPDATES
The Beacon Mill is a fully refurbished and permitted gold mill
situated in Val-d'Or, Québec, on the mineral-rich Abitibi
Greenstone Belt, where LaFleur Minerals is laser focused on
restarting gold production using large bulk samples and mineralized
material from nearby gold deposits. With the price of gold in
excess of USD$3,000 per ounce, many nearby deposits can be quickly
monetized using the Company's 100%-owned Beacon Mill. The mill's
operating capacity exceeds 750 tons per day and is strategically
located in a highly prospective mining region for gold exploration
and development, within an area that is host to over 100 historical
and currently operating mines. The advancement of operations at the
Beacon Mill has transformational qualities for the Company,
evolving it from explorer to a near term gold producer in a Tier 1
jurisdiction with significant upside potential.
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
Equipment inspections, parts inventory, and maintenance work
continues on a full-time basis at the Company's Beacon Gold Mill as
part of its restart program (Figure
1 and Figure 2). A final plan
and budget to restart the mill will be completed by ABF Mines by
late April once final inspections are complete. The Company has
also engaged an environmental services company based in Val-d'Or,
Québec to complete a federal government requirement to assess and
monitor the environmental effects on the tailings and finishing
ponds at the Beacon tailings storage facility
("TSF"). In addition, the Company will be engaging
an engineering firm to complete a geotechnical
assessment/inspection of the TSF and complete any required repairs
or upgrades prior to commencing production at the mill. The Company
remains committed to restart production at the Beacon Mill to
process bulk samples and/or for custom milling purposes prior to
the end of 2025, or once all required restart work has been
completed and final approvals have been received by the Québec
government.
SWANSON
GOLD PROJECT UPDATES
The Swanson Gold Project holds a large position in an attractive
mining jurisdiction, extending over 16,000 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 along with numerous other significant gold showings. The
Swanson Gold Project is easily accessible by road with a rail line
running through the property, allowing direct access to the Beacon
Gold Mill, further enhancing its development potential. The Swanson
Gold Project has had in excess of 36,000 metres of historical
drilling, which underscores the advanced exploration and
development potential of the project, which includes several
favourable gold bearing regional structures and deformation
corridors extending across the property. Since acquiring the
Swanson deposit and consolidating the large claims package, the
Company has deployed in excess of $1 million in flow-through funds,
completed detailed soil geochemistry and prospecting across several
gold targets, completed a very-high resolution airborne magnetic
and VLF-EM geophysical survey, and is currently in the process of
completing a ground IP survey over the Swanson, Jolin, and Bartec
gold deposits. All of this work has allowed the Company to refine
priority drill-ready targets and help derisk the upcoming diamond
drilling program. Several new promising gold targets have been
identified from the recent surface exploration and geophysics
programs, highlighting the potential for mineral resource growth
and new discoveries at Swanson.
The Company has submitted an application for a diamond drilling
permit to the Québec government for the Swanson Gold Project and
will be sending Requests for Quotes (RFQ) to local drilling
contractors, with drilling expected to commence in the spring at
the Swanson, Bartec, Jolin and other recently delineated gold
targets.
RESULTS
OF ANNUAL GENERAL AND SPECIAL MEETING
LaFleur Minerals also announces the results of its Annual
General and Special Meeting ("AGSM") held on March
7, 2025. All matters presented at the AGSM were approved by
shareholders including: (1) the Company's 10% Rolling Share Option
Plan for continuation for a further three years, (2) the Company's
20% Restricted Share Unit Plan for continuation for a further three
years, and (3) the Company's acquisition of an exclusive option to
acquire 100% interest in and to certain mining claims and a mining
lease located in the Province of Québec, pursuant to the terms and
conditions of an option agreement entered into between the Company
and BullRun Capital Inc. dated September 17, 2024 (refer
to the Company's news release dated September 24, 2024).
EXERCISE
OF WARRANTS
Additionally, the Company also announces that it has received
total gross proceeds of $816,750 from the exercise of 7,425,000
warrants (the "Warrants"). The Warrants were
issued in relation to a private placement completed in March 2023
and had an expiry date of March 14, 2025, which were exercised in
full.
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. Our mission is to advance
mining projects with a laser focus on our resource-stage Swanson
Gold Project and the Beacon Gold Mill and Property, which have
significant potential to deliver long-term value. The Swanson Gold
Project is over 16,000 hectares (160 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 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, 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
projects.
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 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. Forward-looking statements in
this news release include, without limitation, statements related
to the use of proceeds from the Offering. 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, 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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