LaFleur Minerals Announces Positive PEA Results for the Swanson Gold Deposit Highlighting Low CAPEX, Robust Economics, and Development Pathway to Gold Production at Its Beacon Gold Mill

Executive Summary

• LaFleur Minerals released a PEA for the Swanson Gold Deposit showing an after‑tax IRR of 65%, NPV (5%) of C$101 million, and a 1.8‑year payback at a US$2,750/oz gold price.
• Updated 2026 Mineral Resource Estimate adds a 30 % increase to indicated resources – now 2.96 Mt @ 1.69 g/t Au (160 koz) plus inferred resources of 1.08 Mt @ 1.93 g/t Au (66.8 koz).
• Initial capital requirement is C$31 million for a mill upgrade to 1,250 tpd, with total project life‑cycle costs of C$166 million operating and C$10 million sustaining capital; projected cumulative free cash flow reaches ≈ C$188 million by Year 8.

Key Details

• Economic Highlights (Base Case – US$2,750/oz Au)
• After‑tax IRR: 65 %
• NPV (5% discount): C$101 M
• Payback period: 1.8 years

• All‑in Sustaining Cost (AISC): US$1,569/oz

• Capital & Operating Costs

• Initial capital cost (incl. 1,250 tpd mill upgrade): C$31 M
• Additional optional expansion to 3,000 tpd: C$175 M (not in base PEA)
• Sustaining capital over 7‑year mine life: C$10 M

• Total operating cost estimate: C$166 M (~C$65/tonne feed)

• Mineral Resource Estimate (2026)

• Indicated: 2.96 Mt @ 1.69 g/t Au → 160.3 koz contained gold
  • Open‑pit: 2.735 Mt @ 1.62 g/t Au → 142.5 koz
  • Underground (MSO): 221 kt @ 2.51 g/t Au → 17.8 koz

• Inferred: 1.08 Mt @ 1.93 g/t Au → 66.8 koz contained gold

  • Open‑pit: 854 kt @ 1.75 g/t Au → 48 koz
  • Underground: 225 kt @ 2.60 g/t Au → 18.8 koz

• Mill Upgrade & Throughput

• Existing Beacon Gold Mill (750 tpd) to be upgraded to 1,250 tpd for C$15 M; further expansion to >3,000 tpd would require C$175 M.

• Expected operating cost reduction from C$42/t to ≈C$28/t with higher throughput.

• Logistics Advantage

• Direct CN rail spur links Swanson deposit to mill – rail transport cost C$5/t vs. trucking C$15/t.

• Free Cash Flow Model

• Staged ramp‑up: 750 tpd (Year 1) → 1,000 tpd (Year 2) → 1,250 tpd (Year 3).

• Cumulative free cash flow by Year 8: ≈C$188 M (after ~C$10 M closure costs in Years 7‑8).

• Sensitivity

• NPV sensitivity analyzed for gold price range US$1,925–US$5,000/oz, CAPEX/OPEX variations ±30‑40% (Class 4 AACE estimate).

• Next Steps / Recommendations

• Continue diamond drilling to increase resource base.
• Pursue additional feed sources for custom milling and potential regional hub‑and‑spoke model.
• Advance bulk sample (~100,000 t) and environmental permitting; finalize rail spur relocation with CN.

Notable Quotes

• Paul Ténière, CEO: “The results of this positive PEA indicate a capital‑efficient development pathway for the Swanson Gold Deposit that leverages our nearby Beacon Mill… we believe Swanson has the potential to evolve into a competitive and short‑term gold development project within the Abitibi Gold Belt.”