LaFleur’s Mine-To-Mill Plan Takes Shape With A Gold Buyer And Up To US$5M In Non-Dilutive Funding

<p>WHAT YOU NEED TO KNOW</p><p>• Up To US$5 Million Without Equity Dilution: The optional advance carries interest at three-month CME SOFR plus 7.50%, with no arrangement fees, equity or warrants payable. Repayment comes through deductions from metal delivery payments, and early repayment carries no penalty.</p><p>• A Buyer For The Bulk Sample’s Precious Metals: Ocean Partners will purchase 100% of the gold and silver produced from the Swanson bulk sample, subject to a minimum delivery commitment. Pricing is based on prevailing LBMA gold and silver prices, less customary refining charges.</p><p>• Existing Infrastructure, Remaining Restart Work: Beacon remains wholly owned and free of royalties or other encumbrances. Elinesky says approximately C$4 million has already been invested in refurbishment. Remaining tailings work and the required change in permit status must precede commissioning.</p><p>• A Staged Operating Plan: Management intends to commission Beacon using approximately 10,000–12,000 tonnes of existing stockpiled material before processing the Swanson bulk sample. Swanson’s closure plan and other required approvals remain outstanding.</p><p>• Results To Guide The Next Phase: The bulk sample is intended to test grades, recoveries, costs and plant performance under operating conditions, providing information to support subsequent development and financing decisions.</p><p>STRATEGIC IMPLICATIONS</p><p>The practical value of the Ocean Partners agreement lies in the gap between starting mining activities and receiving payment for gold. Contractors, site preparation and operating bills require cash before metal deliveries generate proceeds. Elinesky identifies contractor mobilization, pre-stripping and other site activities as intended uses of the advance.</p><p>The facility provides a funding option for that work without an equity issuance attached to the advance. It remains interest-bearing debt, repayable through deductions from bulk sample delivery payments. LaFleur retains exposure to prevailing gold and silver prices through LBMA-linked pricing rather than a fixed-price sale.</p><p>Beacon is the other central piece. Owning an existing processing facility allows LaFleur to pursue recommissioning rather than build a new mill. Elinesky sees that infrastructure as an opportunity to shorten the development process, while acknowledging the work still required to reach operating readiness.</p><p>The bulk sample would then provide a practical test of th