LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) announced a definitive gold and silver purchase agreement with Ocean Partners UK Limited covering 100% of the precious metals produced from a planned bulk sample at its Swanson Gold Project. The material will be processed at the company’s wholly owned Beacon Gold Mill in Val-d’Or, Quebec. The agreement includes an option for an unsecured working capital advance of up to US$5 million, available beginning Jan. 1, 2027, to support mining and processing activities.
The advance carries interest at three-month CME SOFR plus 7.50% and is repayable through deductions from gold and silver deliveries. Notably, it comes with no prepayment penalties, arrangement fees, equity, or warrants. This financing structure provides LaFleur with flexibility and avoids dilution for existing shareholders. The agreement supports LaFleur Minerals’ mine-to-mill development strategy as it advances the Swanson Gold Project and continues recommissioning work at the Beacon Gold Mill. The company is also conducting environmental and geotechnical studies to support required permits.
Following execution of the agreement, LaFleur will not proceed with its previously announced nonbinding term sheet with Trafigura Canada Limited. The shift to Ocean Partners reflects a strategic decision to secure more favorable terms and a clear path to production. For investors, the deal reduces uncertainty around funding and offtake for the Swanson project, signaling progress toward near-term gold and silver output. The Beacon Gold Mill, capable of processing over 750 tonnes per day, is central to the company’s plan to become a producer in the prolific Abitibi Gold Belt.
The Swanson Gold Project spans approximately 20,642 hectares (206 km2) and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has consolidated a large land package along a major structural break hosting the Swanson, Bartec, and Jolin gold targets, among others. The project is located about 55 kilometres north of Val-d’Or in the Abitibi Greenstone Belt, one of the world’s most prolific gold-producing regions. The Val-d’Or-Malartic mining district, 50 to 75 kilometres south and southwest of Swanson, hosts several operating mines and advanced projects, including Agnico Eagle’s Canadian Malartic, Goldex and LaRonde mines, Eldorado Gold’s Lamaque Complex, Fresnillo’s Novador project, and Cartier Resources’ Chimo Mine project. Further northeast, Gold Fields is advancing the Windfall deposit, while Bonterra Resources is advancing the Barry and Gladiator deposits in the Urban-Barry gold camp. Mineralization at these properties is not necessarily indicative of mineralization at the Swanson Gold Project.
LaFleur Minerals recently released positive Preliminary Economic Assessment results for the Swanson Gold Project and the planned restart of the Beacon Gold Mill. For further details, refer to the press release dated March 3, 2026. The company’s newsroom at http://ibn.fm/LFLRF provides ongoing updates. To view the full press release, visit https://ibn.fm/m8kAT.
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