LaFleur Expands Swanson Gold Deposit System, Confirming Strong Continuity with 2.95 g/t Au over 80.00 metres and 2.37 g/t Au over 88.05 metres

Executive Summary and Key Details

• LaFleur Minerals reported significant gold mineralization results from its ongoing diamond drilling program at the Swanson Gold Project on May 12, 2026.
• Seven completed drill holes intersected broad, continuous zones of gold mineralization over plunge lengths of approximately 200 metres.
• Key intercepts include SW-25-085 (2.95 g/t Au over 80.00 m) and SW-25-086 (2.37 g/t Au over 88.05 m).
• Visible gold was intersected in three of the seven recent holes, reinforcing potential for high-grade shoots within the system at depth.
• Mineralization remains open at depth and along strike beyond current pit shells.
• Over 22,500 metres of diamond drilling completed on the Swanson property to date.

Management Commentary

• CEO Paul Ténière stated results mark a significant milestone confirming scale and continuity of the system beyond planned pitshell.
• Chairman Kal Malhi highlighted the emergence of a potentially much larger, high-growth gold system with compelling expansion potential.

Evaluation of News Impact

• The drilling results validate the Preliminary Economic Assessment (PEA) released in March 2026 which projected an NPV of C$101 million and IRR of 65%.
• Confirming continuity beyond current pit shells supports the long-term mine life required to justify the C$30 million Trafigura prepayment facility announced in April 2026.
• The results are consistent with previous drilling announcements from February, March, and April 2026 which also reported broad intercepts (e.g., SW-25-066: 2.05 g/t over 158m).
• As a follow-up to the PEA and financing milestones, this news is expected rather than unexpected market-moving information.

Comparison to Expectations

• The grades and widths are in line with or slightly better than previous validation drilling reported in early 2026.
• No new resource estimate update was filed alongside this release; therefore, the economic impact remains theoretical until a formal NI 43-101 report is updated.
• Given the trajectory of the company from exploration to production (Beacon Mill restart), this news reduces technical risk but does not alter the fundamental investment thesis established by the Trafigura deal and PEA.

Corporate Profile

• LaFleur Minerals is a Canadian exploration and development company focused on the Abitibi Gold Belt in Quebec.
• Flagship Project: Swanson Gold Deposit located adjacent to Fresnillo plc's McKenzie Break Gold Deposit in Val-d'Or district.
• Processing Asset: 100%-owned Beacon Gold Mill, fully permitted with capacity of 750 tonnes per day (tpd), expandable to 3,000-4,000 tpd.

Project Development Status

• Swanson Deposit: Indicated Resource 2.96 Mt @ 1.69 g/t Au; Inferred Resource 1.08 Mt @ 1.93 g/t Au (March 2026 update).
• Mill Restart: Refurbishment budget of C$5-6 million largely funded by $7.8M financing closed in January 2026.
• Strategy: Vertically integrated "mine-to-mill" model to reduce reliance on third-party toll milling and maximize margins.