LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) announced the appointment of Andrew Elinesky as chief executive officer, effective immediately. Elinesky succeeds Paul Ténière, who will continue as president and a director, overseeing the company’s technical and operational activities. Elinesky brings more than two decades of senior executive and financial leadership experience, most recently serving as president and CEO of Sabre Gold Mines Corp., which was acquired in February 2025. In his new role, Elinesky will oversee corporate strategy, capital markets, financing, and investor relations.
The leadership change comes as LaFleur advances due diligence with Trafigura Canada Limited regarding previously announced proposed prepayment and gold doré offtake arrangements. Representatives of Trafigura and LaFleur management completed a two-day site visit to the Beacon Gold Mill and Swanson Gold Project on August 10-11. The visit included an inspection of the mill and process circuits, a review of recommissioning progress, and an inspection of the ongoing diamond drilling program at the Swanson Deposit. The company noted that there is no assurance definitive agreements will be reached or that they will be on the terms currently contemplated.
LaFleur Minerals is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d’Or, Québec. The company’s mission is to advance mining projects with a laser focus on its PEA-stage Swanson Gold Project and the Beacon Gold Mill, which have significant potential to deliver long-term value. The Swanson Gold Project includes a total of 481 claims and one mining lease covering 200.7 square kilometers, with several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings. The project is easily accessible by road, allowing direct access to several nearby gold mills, further enhancing its development potential.
The Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material from Swanson and for custom milling operations for other nearby gold projects. LaFleur recently released the results of a positive Preliminary Economic Assessment (“PEA”) for the Swanson Gold Project and the planned restart of the Beacon Gold Mill. The PEA referenced herein is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results of the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
The appointment of Elinesky and the progress with Trafigura signal potential momentum for LaFleur as it seeks to advance its gold projects and secure financing and offtake arrangements. For investors and the local mining industry, these developments could impact the company’s ability to restart the Beacon Gold Mill and develop the Swanson Gold Project, which may have broader implications for economic activity in the Abitibi region. To view the full press release, visit https://ibn.fm/hQ0JB. The latest news and updates relating to LFLRF are available in the company’s newsroom at http://ibn.fm/LFLRF.
