Mr. Paul Teniere reports
LAFLEUR MINERALS CLOSES $1.66 MILLION FLOW-THROUGH OFFERING TO ADVANCE DRILLING AND PEA-RELATED WORK AT ITS SWANSON GOLD DEPOSIT
Lafleur Minerals Inc., further to its news releases dated July 30, 2025, and Sept. 10, 2025, has closed its non-brokered flow-through private placement for aggregate gross proceeds of $1,663,370. The private placement consisted of the issuance of 2,410,682 flow-through units at a price of 69 cents per FT unit, with each FT unit consisting of one common share in the capital of the company, to be issued as a flow-through share within the meaning of the Income Tax Act (Canada), and one share purchase warrant.
The securities issued under the offering will be subject to a hold period ending on the date that is four months plus one day following the date of issue in accordance with applicable securities laws. Each warrant entitles the holder thereof to purchase one additional share for a period of 24 months from the date of issuance at an exercise price of 75 cents per warrant share. The warrants are subject to an accelerated expiry upon 30 business days notice from the company in the event the shares trade for 14 consecutive trading days any time after four months from closing of the private placement at a volume-weighted average price of at least 90 cents on the Canadian Securities Exchange.
In connection with closing of the private placement, the company incurred cash finders' fees in the amount of $104,652.14 to certain eligible finders and issued the finders an aggregate of 151,668 non-transferable share purchase warrants. Each finder's warrant is exercisable into a share at a price of 75 cents per finder's warrant share for a period of 24 months from the date of issuance, subject to the same accelerated expiry.
Proceeds from the sale of FT units will be used for exploration and drilling programs on the company's flagship, advanced-stage, district-scale Swanson gold project, located in the Abitibi gold belt in Val d'Or, Que., and flow-through eligible work, such as ore sorting and metallurgical testwork of a large bulk sample using independent geometallurgy experts, such as SGS and SRC, and the company's 100-per-cent-owned Beacon gold mill, its near-term gold producing asset. The ore sorting and metallurgical testwork will be completed using drill core and a large bulk sample from the Swanson gold deposit in order to inform and support mineral resource estimates and economic viability, including the potential effectiveness of ore sorting technology at Swanson.
The company is working diligently with ERM to complete the preliminary economic assessment (PEA) to evaluate the restart of gold production at its Beacon gold mill, which will primarily process mineralized material from the company's nearby Swanson gold deposit. The gross proceeds from the issuance of the FT shares will be used to incur resource exploration expenses, which will constitute Canadian exploration expenses, as defined in Subsection 66.1(6) of the Income Tax Act, and flow-through mining expenditures, as defined in Subsection 127(9) of the Income Tax Act and under Section 359.1 of the Quebec Tax Act, which will be renounced with an effective date no later than Dec. 31, 2025, to the purchasers of the FT units in an aggregate amount not less than the gross proceeds raised from the issue of the FT shares. In addition, with respect to Quebec resident subscribers who are eligible individuals under the Quebec Tax Act, the Canadian exploration expenses will also qualify for inclusion in the exploration base relating to certain Quebec exploration expenses, within the meaning of Section 726.4.10 of the Quebec Tax Act, and for inclusion in the exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses, within the meaning of Section 726.4.17.2 of the Quebec Tax Act. If the qualifying expenditures are reduced by the Canada Revenue Agency, the company will indemnify each FT share subscriber for any additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed.
Qualified person statement
All scientific and technical information contained in this news release has been prepared and approved by Louis Martin, PGeo (OGQ), exploration manager and technical adviser of the company, and considered a qualified person (QP) for the purposes of National Instrument 43-101.
About Lafleur Minerals Inc.
Lafleur Minerals is focused on the development of district-scale gold projects in the Abitibi gold belt near Val d'Or, Que. The company's mission is to advance mining projects with a laser focus on its resource-stage Swanson gold deposit and the Beacon gold mill, which have significant potential to deliver long-term value. The Swanson gold project is approximately 18,304 hectares (183 square kilometres) in size, and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines and Globex Mining. Lafleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec and Jolin gold deposits, and several other showings that make up the Swanson gold project. The Swanson gold project is easily accessible by road allowing direct access to several nearby gold mills, further enhancing its development potential. Lafleur Minerals' fully refurbished and permitted Beacon gold mill is capable of processing over 750 tonnes per day, and is being considered for processing mineralized material at Swanson and for custom milling operations for other nearby gold projects.
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