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, with no prepayment penalties, arrangement fees, equity or warrants.
The deal is significant for LaFleur Minerals as it provides both a secured offtake for its precious metals and a potential source of non-dilutive capital. The financing option, if exercised, would give the company flexibility to advance the Swanson Gold Project and continue recommissioning work at the Beacon Gold Mill without issuing additional shares. 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.
For investors, the agreement reduces uncertainty around funding and offtake for the bulk sample, potentially accelerating development timelines. 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. The recently refurbished 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.
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 latest news and updates relating to LFLRF are available in the company’s newsroom at http://ibn.fm/LFLRF. For additional information, visit LaFleur Minerals and LaFleur Minerals (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0).
The agreement with Ocean Partners is a critical step for LaFleur as it seeks to transition from exploration to production. The Beacon Gold Mill’s recommissioning and the Swanson bulk sample are key milestones that could demonstrate the project’s economic viability. With the financing option, LaFleur gains a potential funding source that does not dilute shareholders, which is often a concern in the mining sector. The company’s focus on the Abitibi Gold Belt, a historically rich mining region, positions it among several major producers and developers. If successful, the Swanson project could contribute to the region’s gold output and provide economic benefits to Val-d’Or and surrounding communities.
Investors should note that the agreement is definitive and replaces the earlier nonbinding term sheet with Trafigura Canada Limited. The terms of the Ocean Partners deal, including the interest rate and repayment mechanism, are structured to align with production cash flows. The absence of prepayment penalties, arrangement fees, equity or warrants makes the financing option particularly attractive compared to other forms of capital. As LaFleur advances permitting and studies, the market will watch for further updates on the bulk sample and mill recommissioning. The company’s newsroom, available at Rocks & Stocks, provides ongoing coverage. Rocks & Stocks is part of the Dynamic Brand Portfolio at IBN, which offers corporate communications solutions to public companies. The full terms of use and disclaimers are available at https://RocksAndStocks.news/Disclaimer.
