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. The facility is intended 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.
The company also reported that refurbishment of its wholly owned Beacon Gold Mill 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, 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 extension of the exclusivity period with Trafigura highlights the strategic importance of the proposed financing structure, which is designed to be non-dilutive for shareholders. Trafigura, a global commodity trading company, brings significant financial backing and expertise in metals offtake, which could accelerate the development of LaFleur's flagship projects. 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. The project is easily accessible by road, providing direct access to nearby gold mills, including the Beacon Mill.
The Beacon Gold Mill, capable of processing over 750 tonnes per day, is being refurbished to process mineralized material from Swanson and to offer custom milling services for other nearby gold projects. The company recently released positive results from a Preliminary Economic Assessment (PEA) for the Swanson Gold Project and the planned restart of the Beacon Gold Mill, as reported in a press release dated March 3, 2026. The PEA outlines the economic viability of the project, which is expected to generate long-term value.
Completion of the mill refurbishment is a critical milestone. With 84% of the work done, the focus now shifts to the leaching circuit and refinery, which are essential for gold recovery. The staged commissioning using existing stockpiles is expected to demonstrate the mill's operational readiness and provide early cash flow. The company's progress on both the financing front and mill construction positions it well to advance toward production in the near term.
For more details on the announcement, the full press release is available at https://ibn.fm/7rTzA. Updates on the company's activities can be found in the newsroom at http://ibn.fm/LFLRF.
