LaFleur Minerals Engages Bumigeme for Beacon Gold Mill Valuation to Support Restart Strategy

LaFleur Minerals Inc. has taken a significant step towards restarting its Beacon Gold Mill in Val-d'Or, Québec, by engaging Bumigeme Inc. to conduct an independent valuation report. This report will evaluate the replacement value and restart costs for the mill and its tailings facility, which benefited from over $20 million in upgrades in 2022. The valuation is a critical component of LaFleur Minerals' strategy to secure financing and underscore the mill's potential to contribute to gold production, particularly in connection with the Swanson Gold Project.

The company is positioning itself to capitalize on favorable gold market conditions, with J.P. Morgan forecasting gold prices could reach $4,100 by 2026. The Beacon Gold Mill, capable of processing over 750 tonnes per day, is not only pivotal for the Swanson Gold Project but also for potential custom milling operations for nearby gold projects. This move reflects LaFleur Minerals' commitment to advancing its district-scale gold projects in the Abitibi Gold Belt, leveraging its consolidated land package and infrastructure to deliver long-term value.

The engagement of Bumigeme Inc. represents a strategic milestone in the company's efforts to demonstrate the economic viability of restarting the Beacon Gold Mill. The independent valuation will provide crucial data points for potential financiers and partners, highlighting the substantial infrastructure investment already made and the relatively lower capital requirements for restart compared to building new facilities. This approach could significantly accelerate the timeline to production and cash flow generation.

The timing of this initiative aligns with strengthening fundamentals in the gold sector, where rising prices and increasing demand create favorable conditions for gold producers and developers. The Beacon Gold Mill's strategic location in the prolific Abitibi Gold Belt positions LaFleur Minerals to benefit from both its own mining operations and potential third-party milling contracts. The company's consolidated land package surrounding the mill enhances the potential for sustained operations and regional development.

The valuation process will assess not only the physical assets but also the operational readiness of the facility following the substantial upgrades completed in 2022. These improvements have enhanced the mill's efficiency and environmental performance, making it a modern processing facility capable of meeting current regulatory standards. The comprehensive assessment by Bumigeme will provide stakeholders with a clear understanding of the investment required to bring the facility back into production and its potential contribution to the company's overall value proposition.