LaFleur Minerals (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. This agreement is significant because it provides both a clear offtake route for the company’s planned production and a potential source of non-dilutive capital, strengthening LaFleur’s mine-to-mill development strategy as it advances the Swanson Gold Project and continues recommissioning work at the Beacon Gold Mill.
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, with no prepayment penalties, arrangement fees, equity or warrants. The absence of equity or warrants is particularly important for existing shareholders, as it means the financing would not dilute their ownership. The structure also aligns repayment with production, reducing cash flow pressure during the ramp-up phase.
Following execution of the agreement, LaFleur will not proceed with its previously announced nonbinding term sheet with Trafigura Canada Limited. The shift to a definitive agreement with Ocean Partners provides greater certainty and replaces a nonbinding arrangement with a binding contract. To view the full press release, visit https://ibn.fm/m8kAT.
The company is also conducting environmental and geotechnical studies to support required permits. These studies are essential for obtaining the necessary approvals to commence bulk sampling and processing, and their completion will be a key milestone for the project timeline. The Swanson Gold Project is approximately 20,642 hectares (206 km2) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur Minerals has consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold targets and several others that make up the Swanson Gold Project.
LaFleur Minerals 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). The PEA underscores the project’s potential economics and supports the company’s strategy to become a near-term gold producer. The Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material from Swanson and for custom milling operations for other nearby gold projects. The Swanson Gold Project is located approximately 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.
The latest news and updates relating to LFLRF are available in the company’s newsroom at http://ibn.fm/LFLRF. The announcement was disseminated through IBN, a communications platform that provides corporate communications solutions and social media distribution to a wide audience of investors and journalists. For full terms of use and disclaimers, see https://RocksAndStocks.news/Disclaimer.
