LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) announced that it has extended the exclusivity and due diligence period with Trafigura Canada Ltd. through Aug. 31, 2026 as the parties continue advancing proposed definitive agreements for a non-dilutive prepayment facility of up to C$30 million and a related gold doré offtake agreement to support development of the Swanson Gold Deposit and restart of the Beacon Gold Mill in Québec. The extension will allow additional technical due diligence, including a planned site visit to the Beacon Gold Mill and Swanson Gold Deposit, along with completion of definitive documentation and required approvals.
LaFleur Minerals also reported that refurbishment of its wholly owned Beacon Gold Mill reached approximately 84% completion as of July 1, 2026 and remains on budget. The company said major work on the crushing, grinding, filtration, ore-storage and thickening circuits has been substantially completed, with remaining work focused on the leaching circuit, refinery commissioning and supporting infrastructure. Subject to 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 extended exclusivity with Trafigura underscores the strategic importance of securing financing for the Swanson Gold Project. The prepayment facility would provide non-dilutive capital, which is favorable for existing shareholders. The offtake agreement would ensure a market for gold doré produced at the mill, de-risking the project's revenue stream. This partnership with Trafigura, a global commodity trading firm, adds credibility and financial backing to LaFleur's development plans.
The progress at the Beacon Gold Mill is a critical milestone. With 84% completion, the mill is on track to become operational by year-end 2026. The mill's capacity of over 750 tonnes per day is intended to process material from the Swanson Gold Deposit and could also serve custom milling operations for nearby gold projects, generating additional revenue. The staged commissioning using existing stockpiles will allow the company to begin production without relying solely on new mining, accelerating cash flow generation.
The Swanson Gold Project, located in the Abitibi Gold Belt near Val-d'Or, Québec, encompasses approximately 19,214 hectares and includes several gold and critical metals prospects. A positive Preliminary Economic Assessment (PEA) was released in March 2026, supporting the project's economic viability. The consolidation of a large land package along a major structural break enhances the project's exploration upside.
These developments are important for LaFleur Minerals as they de-risk the path to production. The combination of financing from Trafigura and the near-complete mill refurbishment positions the company to potentially become a producer in the near term. For investors, the extension of exclusivity and progress at the mill provide tangible evidence of advancement toward commercial operations. The company's focus on district-scale gold projects in a prolific mining jurisdiction adds further value.
For more details, the full press release can be accessed at https://ibn.fm/7rTzA. Updates on the company are available at http://ibn.fm/LFLRF.
