LaFleur Minerals Appoints Andrew Elinesky as Chief Executive Officer and Provides Update on Beacon Gold Mill Recommissioning Work and Swanson Bulk Sample Progress
LaFleur Minerals reshapes its leadership and nears Beacon Mill restart while advancing Swanson drilling and financing discussions tied to future gold production.
Rhea-AI Summary
LaFleur Minerals (LFLRF) appointed Andrew Elinesky as Chief Executive Officer, effective immediately, and reported major progress at its Beacon Gold Mill and Swanson Gold Project as of September 9, 2026.
Elinesky brings over 20 years of senior public-company experience, including leading Sabre Gold Mines through reorganization and sale, and 11 years at McEwen Mining where he helped arrange more than $150 million of equity and debt financings. He is granted 2,000,000 stock options at an exercise price of $0.40, vesting over two years with a 5‑year term. Beacon Gold Mill recommissioning has reached over 95% completion on an average per‑item basis, with grinding, crushing, storage and thickening circuits essentially complete, and leaching and filtration circuits substantially advanced. Swanson drilling continues to return broad gold intercepts, including up to 2.95 g/t Au over 80.00 metres, while Trafigura has completed a site visit as part of ongoing due diligence on proposed prepayment and gold doré offtake arrangements.
Positive
- Beacon Gold Mill recommissioning over 95% complete on an average per-item basis
- Swanson drilling intercepts up to 2.95 g/t Au over 80.00 metres
- Additional Swanson intercepts 2.37 g/t Au over 88.05 m; 1.29 g/t Au over 93.85 m
- CEO equity incentive 2,000,000 options at $0.40, 5-year term, 2-year vesting
Negative
- Trafigura arrangements not assured; no certainty definitive agreements will be entered
- Beacon Gold Mill recommissioning not yet complete; tailings facility repairs and upgrades still required
- Swanson PEA based on inferred resources; no demonstrated economic viability or certainty results will be realized
AI-generated analysis. How Rhea-AI works. Not financial advice.
Beacon Mill recommissioning reaches over
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2026) - LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) ("LaFleur Minerals" or the "Company") is pleased to announce the appointment of Andrew Elinesky as Chief Executive Officer (CEO) of the Company, effective immediately. The Company is also pleased to provide updates on recommissioning activities at its Beacon Gold Mill and the recently completed site visit by Trafigura Canada Limited ("Trafigura") as part of its ongoing due diligence for the proposed prepayment and gold doré offtake arrangements.
Appointment of Andrew Elinesky as Chief Executive Officer
The Company is pleased to announce the appointment of Andrew Elinesky as Chief Executive Officer. Mr. Elinesky brings more than two decades of senior executive and financial leadership experience with public companies in Canada, the United States, and the United Kingdom, with a strong track record of building and leading companies through financing, acquisitions, operational development, and corporate growth. He has extensive experience overseeing corporate strategy, capital allocation, financial operations, government relations, ESG initiatives and post-transaction integration, providing a broad operating perspective.
Most recently, he served as President, Chief Executive Officer, and a director of Sabre Gold Mines Corp. (TSX: SGLD), owner of the fully permitted Copperstone gold project in Arizona, where he led the company from near bankruptcy and through its reorganization and eventual acquisition by Minera Alamos Inc. (rebranded to Mining Americas Inc) in February 2025. Previously, he was Chief Financial Officer of numerous publicly listed companies, including McEwen Mining where he spent eleven years in progressively senior leadership roles. During his tenure at McEwen Mining, including five years as Senior Vice-President and Chief Financial Officer and as Vice President, Argentina, he was responsible for significant aspects of the company's corporate and operational activities, including financial and administrative oversight of the San José mine, equity and debt financings exceeding
As CEO of the Company, Mr. Elinesky will assume responsibility for corporate strategy, capital markets, financing and investor relations with the allocation of authority as approved by the Board of Directors.
Paul Ténière, M.Sc., P.Geo., who previously served as CEO, will continue as President and a Director of the Company. Mr. Ténière will oversee all technical and operational matters of the Company, including the Swanson bulk sampling program and permitting/environmental studies, ongoing exploration and drilling programs, and the Beacon Gold Mill recommissioning program.
Andrew Elinesky, CEO of LaFleur Minerals stated, "I am very excited to join LaFleur Minerals at such an important point in the Company's development. LaFleur Minerals has assembled a compelling platform in the Abitibi Gold Belt as it progresses toward near-term gold production and still has significant opportunities for growth. I look forward to working closely with the team to execute on this strategy and build LaFleur Minerals into a successful and sustainable gold developer. Having spent my career helping public companies raise capital, complete transactions and advance operations, I am particularly excited about the opportunity to apply that experience to building value at LaFleur Minerals and delivering on the Company's production and growth objectives."
The Company has granted Mr. Elinesky 2,000,000 incentive stock options to purchase common shares of the Company in accordance with its
Trafigura Site Visit
On August 10 and 11, representatives of Trafigura and LaFleur Minerals' management team completed a site visit to the Beacon Gold Mill and Swanson Gold Project. The two-day site visit included inspection of the mill and process circuits, review of recommissioning progress, and inspection of the ongoing diamond drilling program at the Swanson Deposit. The Company and Trafigura continue to progress due diligence regarding the previously-announced proposed prepayment and gold doré offtake arrangements. There is no assurance that definitive agreements will be entered into, or on the terms currently contemplated.
Photos from Trafigura site visit in August 2026:
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Beacon Gold Mill Recommissioning Update
Recommissioning of the Beacon Gold Mill has reached over
Swanson Gold Project Update
Work at the Company's Swanson Gold Project continues to advance on several fronts including baseline studies and permitting activities for the surface bulk sample. Recent diamond drilling has intersected gold mineralization outside the pit shell used in the Company's Preliminary Economic Assessment (PEA). Any impact on mineral resources will be assessed in a future mineral resource estimate.
The PEA referenced herein for the Swanson Gold Project 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, and 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 Company's current drilling programs are being met with excellent results as reported in previous news releases including May 12,2026 news release which outlined drilling results including:
Drilling Highlights:
- 2.95 g/t Au over 80.00 metres (SW-25-085)
- 2.37 g/t Au over 88.05 metres (SW-25-086)
- 1.29 g/t Au over 93.85 metres (SW-25-087)
- 0.86 g/t Au over 103.55 metres and 1.14 g/t Au over 56.65 metres (SW-25-090)
For details of the sampling, analytical and QA/QC procedures, and drill hole collar and orientation data, refer to the Company's May 12,2026 news release and filed on SEDAR+.
Additional drilling results will be released once assay results are received from the laboratory.
Kal Malhi, Chairman of LaFleur Minerals stated, "As LaFleur Minerals targets near-term gold production, Andrew's arrival comes at a pivotal moment for LaFleur Minerals' growth trajectory. With the Beacon Gold Mill approaching restart and our financing discussions with Trafigura and others, we sought a chief executive who has taken public companies through exactly this transition, and Andrew has done it, most recently taking Sabre Gold from a struggling developer and restructuring and eventual sale to a major gold producer. I am extremely excited at the prospects for LaFleur Minerals' growth and believe we have assembled a strong executive team with Andrew as CEO, Paul as President, and Marc Ducharme as VP of Exploration. This gives us a solid foundation for growth and to deliver strong results within the Abitibi Gold Belt."
Qualified Person Statement
The scientific and technical information disclosed in this news release was reviewed and approved by Marc Ducharme, P.Geo. (OGQ), Vice President of Exploration for LaFleur Minerals and considered a Qualified Person under NI 43-101. The QP has verified the analytical data underlying the drilling assay results disclosed in this release by reviewing the Company's QAQC protocols, core and sample logs, original assay certificates, and assay database. The QP notes no sampling or recovery issues with the drilling and assay data disclosed in this news release.
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. The Company's mission is to advance mining projects with a laser focus on our 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 1 mining lease (200.7 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 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 allowing direct access to several nearby gold mills, further enhancing its development potential. LaFleur Minerals' 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 Company's Swanson Gold Project and the planned restart of the Beacon Gold Mill. The PEA referenced herein for the Swanson Gold Project 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, and 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.
ON BEHALF OF LAFLEUR MINERALS INC.
Andrew Elinesky
Chief Executive Officer
E: info@lafleurminerals.com
T: 1 (604) 805-4602
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 contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are generally identified by words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "proposed", "scheduled", and similar expressions, or statements that events or conditions "will", "would", "may", "could" or "should" occur.
Forward-looking statements in this news release include, but are not limited to, statements regarding: the completion of remaining due diligence items by Trafigura; the negotiation and execution of definitive documentation in respect of the Proposed Agreements, including the Prepayment Facility and the Offtake Agreement; the anticipated terms, timing and completion of the Proposed Agreements; the planned restart of the Beacon Gold Mill; the potential processing of mineralized material from the Swanson Gold Project and custom milling for other projects; the advancement and development of the Swanson Gold Deposit; and the results and potential realization of the Company's preliminary economic assessment (the "PEA").
Forward-looking statements are based on a number of assumptions, including that: the parties will complete due diligence satisfactorily; the parties will negotiate and execute definitive agreements; all necessary internal, regulatory and stock exchange approvals will be obtained; financing and capital will remain available on acceptable terms; gold prices, exchange rates and input costs will be consistent with the Company's expectations; permitting and operational assumptions, including those underlying the PEA, will be realized; and no material adverse change will occur.
Forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including, without limitation, that: due diligence may not be completed satisfactorily or the site visit may identify matters that affect the proposed transaction; definitive agreements may not be entered into; required approvals may not be obtained; financing may not be available, or may be available only on terms less favourable than anticipated; the assumptions underlying the PEA may prove incorrect; commodity price and foreign exchange volatility; permitting, technical, operational and cost-escalation risks; capital market conditions; and general economic, market and business conditions. Additional risk factors are described in the Company's continuous disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca.
Forward-looking statements are made as of the date of this news release and are based on the beliefs, estimates and opinions of management on that date. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313611
FAQ
What responsibilities will Andrew Elinesky and Paul Ténière have in their new roles at LaFleur Minerals?
As CEO, Andrew Elinesky will lead corporate strategy, capital markets, financing and investor relations, with authority allocated by the Board. Paul Ténière, the former CEO, will continue as President and Director, overseeing all technical and operational matters, including the Swanson bulk sample and permitting/environmental studies, exploration and drilling programs, and the Beacon Gold Mill recommissioning.
What are the key details of the stock options granted to the new CEO?
LaFleur Minerals has granted 2,000,000 incentive stock options to Andrew Elinesky under its 10% rolling stock option plan. The options have an exercise price of $0.40 per share, a 5‑year term, and vest over the next two years. The grant is subject to the policies of the Canadian Securities Exchange.
What work remains before the Beacon Gold Mill recommissioning is fully completed?
While recommissioning has reached over 95% completion on an average per‑item basis and major circuits are essentially complete, LaFleur Minerals expects full recommissioning in Q4 only after remaining mill activities are finished and all required repairs and upgrades at the tailings storage facility are completed.
What was the purpose of Trafigura’s recent site visit and what is its current status with LaFleur Minerals?
On August 10 and 11, representatives of Trafigura and LaFleur Minerals completed a site visit to the Beacon Gold Mill and Swanson Gold Project to inspect mill circuits, review recommissioning progress, and observe the ongoing diamond drilling program. Due diligence on the proposed prepayment and gold doré offtake arrangements continues, but there is no assurance that definitive agreements will be entered into or on the terms currently contemplated.
How is LaFleur Minerals characterizing the current drilling results and resource status at Swanson?
Current drilling at Swanson is described as being met with excellent results, including broad gold intercepts outside the pit shell used in the Preliminary Economic Assessment. However, the PEA is preliminary and includes inferred mineral resources considered too speculative geologically to be classified as mineral reserves, and there is no certainty that the PEA results will be realized or that the mineral resources have demonstrated economic viability.