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LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) ("LaFleur Minerals" or the "Company") is pleased to provide the following corporate updates.
BEACON GOLD MILL RESTART AND SWANSON GOLD PROJECT UPDATES
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Metal Hawk Limited
Investor Insight
Metal Hawk has a solid strategy to increase shareholder value through early-stage exploration success, leveraging a strong gold market and driven by a highly experienced team with a track record of successful discoveries.
Overview
Metal Hawk Limited (ASX:MHK) is an Australian exploration company with a primary focus on gold and nickel discoveries. The company is driven by a technically proficient team with a proven track record of identifying high-potential mineral exploration projects and executing early-stage discoveries.
Founded with a strong commitment to disciplined exploration, Metal Hawk’s portfolio is primarily concentrated in the prolific Eastern Goldfields of Western Australia. The company’s exploration strategy combines traditional geological methods with innovative technologies to unlock the full potential of its tenements.
The main focus of Metal Hawk’s current exploration activities is its Leinster South project, which has shown significant promise following the discovery of high-grade gold at the Siberian Tiger prospect. Metal Hawk is advancing towards securing the necessary permits for further exploration and a maiden drilling program at Leinster South. Metal Hawk is finalising heritage negotiations and intends to undertake a heritage clearance survey as soon as possible, which will allow for the commencement of a maiden reverse circulation (RC) drilling program at Siberian Tiger. This drilling campaign will test the depth extent and continuity of the high-grade gold mineralization identified at surface.
The company also maintains a diversified exploration portfolio with other projects such as Berehaven, Yarmany and Kanowna East, all of which hold strong potential for gold and nickel mineralisation.
Company Highlights
- A gold-focused exploration company backed by a highly experienced technical team with a track record of identifying high-potential projects and making early-stage discoveries.
- The company’s flagship project is the Leinster South project, which hosts the high-grade Siberian Tiger gold prospect.
- Recent rock chip sampling at Siberian Tiger returned assays as high as 20.2 g/t gold.
- Metal Hawk has completed a UAV magnetic survey at Leinster South to assist with drill targeting.
- The company is progressing through heritage negotiations and awaiting approval for a maiden RC drilling campaign at Siberian Tiger.
Key Projects
Leinster South – Flagship Project
Leinster South, Metal Hawk’s flagship project, is located 30 kilometers south of Leinster in Western Australia’s Eastern Goldfields region. Covering approximately 127 square kilometers of granted tenure, this project is highly prospective for gold and nickel mineralization. Its proximity to the Agnew-Lawlers mining center, which has produced over 5 million ounces of gold at an average grade of 5 grams per ton (g/t), further enhances its significance. The project sits within the Agnew-Wiluna greenstone belt and along the eastern limb of the Lawlers Anticline, a key structural feature associated with major gold discoveries in the region.
The Siberian Tiger prospect within Leinster South is the focal point of Metal Hawk’s exploration efforts. Recent rock chip sampling from quartz veins has returned high-grade gold results, with assays reaching up to 20.2 g/t. This high-grade discovery has accelerated the company’s exploration activities, with further sampling and mapping identifying additional gold anomalies along strike from the Siberian Tiger prospect.
The prospect has also been the subject of geophysical surveys by Metal Hawk, including a UAV magnetic survey, which has provided detailed data on the geology and helped identify several drill targets. These findings confirm the presence of prospective stratigraphy along the eastern limb of the Lawlers Anticline, setting the stage for a maiden RC drilling program. Heritage negotiations with traditional owners are progressing, and once complete, the company will begin drilling to test the depth and continuity of the mineralization.
Metal Hawk’s exploration strategy at Leinster South combines geophysical surveys, geochemical sampling, and geological mapping to systematically assess the project’s potential. While the focus is on drill testing surface gold mineralization at Siberian Tiger, the company is also exploring other areas of the tenement for additional targets. The broader project area contains a variety of mafic and ultramafic rocks, which are known to host both gold and nickel mineralization.
Berehaven
The Berehaven project is located in a well-established mining region, known for its gold and nickel potential. Metal Hawk’s exploration efforts here have focused on identifying structurally controlled gold mineralization. The project area is characterized by mafic and ultramafic rock sequences, which are highly prospective for hosting both gold and nickel deposits. While still in the early stages of exploration, Berehaven represents a valuable asset in Metal Hawk’s portfolio.
Yarmany
Yarmany is another key project in Metal Hawk’s portfolio, located in the Western Australian Goldfields. This project is highly prospective for gold, with several historic workings and gold anomalies identified through surface sampling. The project’s proximity to known gold deposits adds to its appeal, and Metal Hawk is planning further exploration to delineate drill targets.
Kanowna East
The Kanowna East project is located near the world-class Kanowna Belle gold mine, which has produced millions of ounces of gold over its operational life. Metal Hawk’s tenements in this region are prospective for both gold and base metals, and the company is planning additional exploration activities to test the area’s potential.
Management Team
Mike Edwards - Non-executive Chairman
Mike Edwards is a geologist and economist with over 25 years’ experience in senior management roles within both the public and private sectors. Edwards worked for Barclays Australia in the commercial and corporate finance department, before returning to university to complete a Bachelor of Science in geology. Edwards then spent eight years as an exploration and mine geologist, principally working in Australia with a focus on Archaean gold and base metals. Over the past 10 years, Edwards has held numerous executive and non-executive director roles, predominantly with ASX-listed companies. Most recently, he was the non-executive chairman of Firefly Resources (ASX:FFR), which successfully merged with Gascoyne Resources (ASX:GCY). Edwards holds a Bachelor of Business (economics and finance) from Curtin University of Technology, and a Bachelor of Science (geology) from the University of Western Australia.
Will Belbin - Managing Director
Will Belbin has over 20 years’ experience working in gold and base metals exploration, with extensive experience in project generation and evaluation. He was an integral part of the Fisher East nickel sulphide discoveries as exploration manager for Rox Resources. Previously, Belbin worked with Newexco as a senior geologist at Western Areas’ Forrestania nickel project. He holds a geology degree from the University of Western Australia and a Master of Mineral Economics from Curtin University's Graduate School of Business.
David Pennock - Executive Director
David Pennock is a corporate geologist from the WA School of Mines, with over 15 years of experience in the resources sector and has strong business development skills.
Scott Glasson - CFO
Scott Glasson is an experienced CFO and qualified chartered accountant with a strong knowledge of financial markets, corporate governance and accounting practices.
Gold-focused exploration in Western Australia’s prolific Eastern Goldfields region
LaFleur Minerals Provides Update on Beacon Mill Restart, Results of Annual General and Special Meeting, and Swanson Gold Deposit Exploration and Drilling Updates
The Beacon Mill is a fully refurbished and permitted gold mill situated in Val-d'Or, Québec, on the mineral-rich Abitibi Greenstone Belt, where LaFleur Minerals is laser focused on restarting gold production using large bulk samples and mineralized material from nearby gold deposits. With the price of gold in excess of USD$3,000 per ounce, many nearby deposits can be quickly monetized using the Company's 100%-owned Beacon Mill. The mill's operating capacity exceeds 750 tons per day and is strategically located in a highly prospective mining region for gold exploration and development, within an area that is host to over 100 historical and currently operating mines. The advancement of operations at the Beacon Mill has transformational qualities for the Company, evolving it from explorer to a near term gold producer in a Tier 1 jurisdiction with significant upside potential.
Figure 1: Photo of interior of Beacon Mill currently undergoing detailed inspections for restart
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Figure 2: Photo of exterior of Beacon Mill in Val-d'Or, Québec
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Equipment inspections, parts inventory, and maintenance work continues on a full-time basis at the Company's Beacon Gold Mill as part of its restart program (Figure 1 and Figure 2). A final plan and budget to restart the mill will be completed by ABF Mines by late April once final inspections are complete. The Company has also engaged an environmental services company based in Val-d'Or, Québec to complete a federal government requirement to assess and monitor the environmental effects on the tailings and finishing ponds at the Beacon tailings storage facility ("TSF"). In addition, the Company will be engaging an engineering firm to complete a geotechnical assessment/inspection of the TSF and complete any required repairs or upgrades prior to commencing production at the mill. The Company remains committed to restart production at the Beacon Mill to process bulk samples and/or for custom milling purposes prior to the end of 2025, or once all required restart work has been completed and final approvals have been received by the Québec government.
SWANSON GOLD PROJECT UPDATES
The Swanson Gold Project holds a large position in an attractive mining jurisdiction, extending over 16,000 hectares in size and includes several prospects rich in gold and critical metals, previously held by Monarch Mining, Abcourt Mines, and Globex Mining. The consolidated Swanson Gold Project covers a major structural break that hosts the Swanson, Bartec, and Jolin gold targets along with numerous other significant gold showings. The Swanson Gold Project is easily accessible by road with a rail line running through the property, allowing direct access to the Beacon Gold Mill, further enhancing its development potential. The Swanson Gold Project has had in excess of 36,000 metres of historical drilling, which underscores the advanced exploration and development potential of the project, which includes several favourable gold bearing regional structures and deformation corridors extending across the property. Since acquiring the Swanson deposit and consolidating the large claims package, the Company has deployed in excess of $1 million in flow-through funds, completed detailed soil geochemistry and prospecting across several gold targets, completed a very-high resolution airborne magnetic and VLF-EM geophysical survey, and is currently in the process of completing a ground IP survey over the Swanson, Jolin, and Bartec gold deposits. All of this work has allowed the Company to refine priority drill-ready targets and help derisk the upcoming diamond drilling program. Several new promising gold targets have been identified from the recent surface exploration and geophysics programs, highlighting the potential for mineral resource growth and new discoveries at Swanson.
The Company has submitted an application for a diamond drilling permit to the Québec government for the Swanson Gold Project and will be sending Requests for Quotes (RFQ) to local drilling contractors, with drilling expected to commence in the spring at the Swanson, Bartec, Jolin and other recently delineated gold targets.
RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING
LaFleur Minerals also announces the results of its Annual General and Special Meeting ("AGSM") held on March 7, 2025. All matters presented at the AGSM were approved by shareholders including: (1) the Company's 10% Rolling Share Option Plan for continuation for a further three years, (2) the Company's 20% Restricted Share Unit Plan for continuation for a further three years, and (3) the Company's acquisition of an exclusive option to acquire 100% interest in and to certain mining claims and a mining lease located in the Province of Québec, pursuant to the terms and conditions of an option agreement entered into between the Company and BullRun Capital Inc. dated September 17, 2024 (refer to the Company's news release dated September 24, 2024).
EXERCISE OF WARRANTS
Additionally, the Company also announces that it has received total gross proceeds of $816,750 from the exercise of 7,425,000 warrants (the "Warrants"). The Warrants were issued in relation to a private placement completed in March 2023 and had an expiry date of March 14, 2025, which were exercised in full.
QUALIFIED PERSON STATEMENT
All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo., Technical Advisor to the Company and considered a Qualified Person for the purposes of NI 43-101.
About LaFleur Minerals Inc.
LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d'Or, Québec. Our mission is to advance mining projects with a laser focus on our resource-stage Swanson Gold Project and the Beacon Gold Mill and Property, which have significant potential to deliver long-term value. The Swanson Gold Project is over 16,000 hectares (160 km2) 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 which make up the Swanson Gold Project. The Swanson Gold Project is easily accessible by road with a rail line running through the property 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.
ON BEHALF OF LAFLEUR MINERALS INC.
Paul Ténière, P.Geo.
Chief Executive Officer
E: info@lafleurminerals.com
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that may be deemed "forward-looking statements." All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this news release include, without limitation, statements related to the use of proceeds from the Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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Silver Crown Confirms Receipt of Royalty Payments and Provides Update
(TheNewswire)
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TORONTO, ON TheNewswire - March 21, 2025 Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) ( "Silver Crown" "SCRi" the "Corporation" or the "Company" ) is pleased to announce the receipt of payments on its producing royalties. PPX Mining Corp. (" PPX ") has paid the royalty due to SCRi for the period ending March 31, 2025 in full in the amount of US$40,672.70 several weeks before it was due. Additionally, Elk Gold Mining Corp. (" Elk Gold "), a wholly owned subsidiary of Gold Mountain Mining Corp. (" GMTN "), has paid the first C$29,811.99 of its royalty payment due for the quarter ended December 31, 2024. Pursuant to a letter agreement dated February 5, 2025, SCRi agreed to delay Elk Gold's payment of the residual $30,070.25 royalty payment due to SCRi for the quarter ended December 31, 2024 until March 31, 2025. Â SCRi anticipates that Elk Gold will pay this residual amount owing on or before March 31, 2025.
On Monday, March 17, 2025, GMTN announced financial and operating results for the fourth quarter ended January 31, 2025. Highlights from the three months ended January 31 st , 2025 include gold sales of 291 oz from 10,055 tonnes delivered grading at an average of 1.23 g/t. Low production results realized during the period were directly attributable to the planned winter work program, which substantially reduced operations throughout the quarter. As a result, production from the Elk Gold Project is consistent with the reduced activity level. The combination of lower stripping volumes and anticipated lower gold production in Q4 2025 resulted in reduced unit costs compared to Q4 2024.
Historically, the silver to gold ratio at the Elk Gold mine was 2:1, implying silver production of approximately 573 oz during the period. SCRi's royalty agreement with Elk Gold provides for a minimum quarterly royalty payment equal to the cash equivalent of 1,500 ounces of silver, almost 300% of the current quarterly silver output at the mine. Although part of GMTN's update noted that its current technical report on the Elk Gold Project should not be relied upon, the minimum delivery ounces will remain unchanged while the Elk Gold Project remains in operation.
Peter Bures, Silver Crown's Chief Executive Officer commented, "We are thankful to PPX for their early royalty payment to SCRi, which showcases the successful ongoing operations at Igor 4. We are also encouraged by GMTN's payment as mining at Elk resumes following the winter work program. We remain committed to supporting our partners and greatly value the collaborative endeavors that contribute to our collective achievements. Furthermore, we wish to underscore the efficacy of our minimum delivery provision, which has proven instrumental in mitigating additional downside risk associated with operating mines."
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:
Peter Bures, Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, SCRi anticipates that Elk Gold will pay this residual amount owing on or before March 31, 2025. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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