Vancouver, British Columbia, Canada -- March 27, 2025 --
InvestorsHub NewsWire -- LaFleur Minerals Inc.
(CSE:
LFLR) (OTCQB:
LFLRF) (FSE: 3WK0) ("LaFleur
Minerals" or the "Company") is pleased to
announce that it has entered into a Memorandum of Understanding
("MOU") with Granada Gold Mine Inc.
("Granada") (collectively, the
"Parties") dated March 25, 2025 to assess the
design criteria for processing mineralized material from the
Granada Gold Project ("Granada Gold" or the
"Project") at the Company's 100%-owned and fully
permitted Beacon Gold Mill, located in Val-d'Or, Québec,
Canada.
If off-site processing of Granada Gold mineralized material at
the Beacon Gold Mill is deemed viable by both parties as part of
the MOU, the Parties have the option to enter into a commercial
agreement and may undertake a mining and economic study to further
evaluate the processing of Granada Gold mineralized material at the
Beacon Gold Mill. This study would consider mine design, mining
methodology, mining and processing rates, gold production profile,
facilities requirements, development schedules, and determine the
overall project economics.
Paul Teniere, CEO of LaFleur Minerals commented,
"Hub-and-spoke mining and milling arrangements have long been a
feature of mining in the Abitibi Gold Belt in Québec. With the
price of gold having risen from USD$2,000 per ounce to a current
price approaching USD$3,000 per ounce over the past 12 months, we
are excited to look at potentially custom milling mineralized
material from the Granada Gold deposit. Today, we are announcing
the first step in assessing the viability of such an arrangement
for the Granada Gold deposit as part of the Beacon Gold Mill
restart project. The MOU with Granada will facilitate the
preliminary technical work required to assess the compatibility of
the Granada Gold deposit with the Beacon Gold Mill. The Beacon Gold
Mill is directly accessible to the Granada Gold deposit via truck
hauling on paved highway, and possibly rail shipping. With offsite
processing and tailings disposal, the Granada Gold deposit could
potentially be a low-cost, low-impact, and highly profitable mining
operation. The MOU with Granada Gold contains no commercial terms
regarding how mineralized material from the Granada Gold deposit to
Beacon Gold Mill would be arranged. However, further discussions
between the two parties are contemplated upon the successful
completion of this preliminary technical work."
TERMS OF
THE MOU
The MOU facilitates the exchange of technical data between
LaFleur Minerals and Granada Gold regarding metallurgy, flow-sheet
configuration, potential mill modifications, and future processing
and tailings disposal capacity. Each Party will be responsible for
its own costs associated with this work. To conduct the assessment,
LaFleur Minerals has retained ABF Mines Inc., and a program of
metallurgical work has already commenced at the Granada Gold
deposit. The MOU is non-binding and non-exclusive and contains no
specific terms around potential commercial arrangements between the
Parties. There is no certainty that any arrangement between the
Parties will result from their dealings pursuant to the MOU.
LAFLEUR
MINERALS CORE ASSETS:
BEACON
GOLD MILL
Fully-refurbished, permitted Beacon Gold Mill, capable of
processing over 750 tonnes per day (Figure 1 and
2).
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 2025.
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
SWANSON
GOLD PROJECT
The Swanson Gold Project is 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 Swanson Gold Project covers a major structural break
that hosts the Swanson Gold Deposit, and 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
historical drilling.
(MRE source: NI 43-101 technical report, effective September
17, 2024, filed on the Company's SEDAR+ profile).
Figure 3: Swanson Gold Project and other gold
deposits within 50 km of the Beacon Gold Mill
LaFleur Minerals' strategy combines advancing the Swanson Gold
Deposit resource estimate, custom milling at the Beacon Gold Mill,
and leveraging regional 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. Our mission is to advance
mining projects with a laser focus on our resource-stage Swanson
Gold Project and the Beacon Gold Mill, 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.
ON BEHALF OF LAFLEUR MINERALS INC.
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 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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