LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) has announced an extension of the exclusivity and due diligence period with Trafigura Canada Ltd. through August 31, 2026, as the two parties continue to advance proposed definitive agreements for a non-dilutive prepayment facility of up to C$30 million and a related gold doré offtake agreement. The facility is intended to support the development of the Swanson Gold Deposit and the restart of the Beacon Gold Mill in Québec.
The extension allows for additional technical due diligence, including a planned site visit to the Beacon Gold Mill and Swanson Gold Deposit, along with the completion of definitive documentation and required approvals. This development signals continued confidence from Trafigura, a major global commodities trading firm, in LaFleur's projects and management.
LaFleur Minerals also reported that refurbishment of its wholly owned Beacon Gold Mill has reached approximately 84% completion as of July 1, 2026, and remains on budget. The company stated that major work on the crushing, grinding, filtration, ore-storage, and thickening circuits has been substantially completed. Remaining work is focused on the leaching circuit, refinery commissioning, and supporting infrastructure. Subject to the delivery of remaining equipment and other conditions, the company expects to complete mechanical work and begin staged commissioning using existing stockpiles during the fourth quarter of 2026.
The Beacon Gold Mill, capable of processing over 750 tonnes per day, is being considered for processing mineralized material from the Swanson Gold Project and for custom milling operations for other nearby gold projects. The mill's refurbishment is a key component of LaFleur's strategy to become a low-cost gold producer in the Abitibi Gold Belt, one of Canada's most prolific mining regions.
The Swanson Gold Project, located near Val-d'Or, Québec, encompasses approximately 19,214 hectares (192 km²) and includes several prospects rich in gold and critical metals. The project is easily accessible by road, providing direct access to several nearby gold mills. LaFleur recently released the results of a positive Preliminary Economic Assessment (PEA) for the Swanson Gold Project and the planned restart of the Beacon Gold Mill (refer to press release dated March 3, 2026).
This announcement matters because it demonstrates tangible progress toward production at the Swanson Gold Project. The extension of exclusivity with Trafigura suggests that the financing deal is likely to close, providing LaFleur with non-dilutive capital to advance development. For investors, the 84% completion of the mill refurbishment reduces execution risk and brings the company closer to generating revenue from gold sales. For the mining industry in Québec, the restart of the Beacon Gold Mill could provide custom milling services for other junior miners, boosting regional economic activity.
For more information, the full press release is available at https://ibn.fm/7rTzA. The latest news and updates relating to LFLRF are available in the company's newsroom at http://ibn.fm/LFLRF.
