LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) has entered a definitive gold and silver purchase agreement with Ocean Partners UK Limited, a move that strengthens the company's mine-to-mill development strategy at its Swanson Gold Project in Val-d'Or, Quebec. The agreement covers 100% of the precious metals produced from a planned bulk sample, which will be processed at LaFleur's wholly owned Beacon Gold Mill.
The significance of the deal lies in its financing component: Ocean Partners has granted LaFleur an option for an unsecured working capital advance of up to US$5 million, available beginning Jan. 1, 2027. The advance carries interest at three-month CME SOFR plus 7.50% and is repayable through deductions from gold and silver deliveries. Critically, the facility includes no prepayment penalties, arrangement fees, equity, or warrants, making it a relatively low-cost source of capital that avoids shareholder dilution. For a junior miner advancing a project, such terms can be transformative.
The agreement also resolves uncertainty around LaFleur's financing plans. Following execution of the Ocean Partners deal, LaFleur will not proceed with its previously announced nonbinding term sheet with Trafigura Canada Limited. This consolidation of effort behind a single, definitive partner simplifies the company's path forward and signals confidence in the Swanson project's economics.
LaFleur is simultaneously conducting environmental and geotechnical studies to support required permits, and recommissioning work at the Beacon Gold Mill continues. The mill, recently refurbished, is capable of processing over 750 tonnes per day and is being considered for processing mineralized material from Swanson as well as custom milling for nearby gold projects. The Swanson Gold Project spans approximately 20,642 hectares (206 km2) and includes several prospects previously held by Monarch Mining, Abcourt Mines, and Globex Mining. It is located about 55 kilometres north of Val-d'Or in the Abitibi Greenstone Belt, one of the world's most prolific gold-producing regions.
The timing of the agreement follows the release of a positive Preliminary Economic Assessment for the Swanson Gold Project and the planned restart of the Beacon Gold Mill, details of which can be found in the refer to press release dated March 3, 2026. That PEA provided a baseline valuation, and the Ocean Partners deal now provides a concrete route to funding the bulk sample and early production. For investors, the combination of a positive PEA, a processing facility, and a secured offtake and financing partner reduces execution risk.
LaFleur Minerals is focused on district-scale gold projects in the Abitibi Gold Belt. The company's mission centers on advancing the PEA-stage Swanson Gold Project and the Beacon Gold Mill. The latest news and updates relating to LFLRF are available in the company's newsroom at http://ibn.fm/LFLRF. The full press release can be viewed at https://ibn.fm/m8kAT.
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