LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) announced an extension of the exclusivity and due diligence period with Trafigura Canada Ltd. through Aug. 31, 2026, as the parties continue working toward 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 completion of definitive documentation and required approvals. This development is significant as it demonstrates continued interest from a major global commodities trader in financing the project without diluting existing shareholders.
LaFleur Minerals also provided an update on the refurbishment of its wholly owned Beacon Gold Mill, reporting that work has reached approximately 84% completion as of July 1, 2026, and remains on budget. 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 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 progress at the mill is a key milestone for LaFleur, as the Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material from the Swanson Gold Project and for custom milling operations for other nearby gold projects. The company recently released positive results from a Preliminary Economic Assessment for the Swanson Gold Project and the planned restart of the mill (refer to press release dated March 3, 2026).
The Swanson Gold Project is approximately 19,214 hectares in size 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 that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings. The project is easily accessible by road, allowing direct access to several nearby gold mills, further enhancing its development potential.
These developments are important for the company's strategy to become a near-term gold producer in the Abitibi Gold Belt near Val-d'Or, Québec. The extension with Trafigura and the advancing mill refurbishment signal progress toward production and potential value creation for shareholders. For more details, the full press release is available at https://ibn.fm/7rTzA.
