LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) announced the appointment of Rauni Malhi as a director effective Sept. 15, 2026, following the resignation of Michael Kelly effective Sept. 7. The change in the boardroom comes as the company continues to focus on the development of its district-scale gold projects in the Abitibi Gold Belt near Val-d’Or, Québec.
Malhi, a British Columbia-based paralegal, brings a wealth of governance experience to the role. He has served on the boards of several TSX Venture Exchange-listed issuers, including Cairo Resources, which was rebranded as Gladiator Metals Corp. (TSX.V: GLAD). His background in corporate and securities law, combined with his board experience in the junior mining sector, positions him to provide valuable oversight as LaFleur advances its key assets.
In connection with his appointment, LaFleur granted Malhi 500,000 incentive stock options exercisable at $0.40 per share through Sept. 15, 2031. Half of the options vest immediately, with the remainder vesting six months from the grant date. This equity compensation aligns Malhi’s interests with those of shareholders and provides a strong incentive to contribute to the company’s long-term success.
The board change is significant for LaFleur Minerals as it seeks to execute its strategy of developing the Swanson Gold Project and restarting the Beacon Gold Mill. 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. The project is easily accessible by road, providing direct access to several nearby gold mills, which enhances its development potential.
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 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. However, the PEA 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, and mineral resources that are not mineral reserves do not have demonstrated economic viability.
Malhi’s appointment comes at a critical juncture as LaFleur Minerals works to unlock value from its assets. The company’s mission is to advance mining projects with a laser focus on the Swanson Gold Project and the Beacon Gold Mill, which have significant potential to deliver long-term value. With a strengthened board, LaFleur is better positioned to navigate the complexities of project development and capitalize on opportunities in the Abitibi Gold Belt.
Investors can stay updated on LaFleur Minerals’ latest news and updates by visiting the company’s newsroom at http://ibn.fm/LFLRF. For the full press release, visit https://ibn.fm/By5Gp. More information about InvestorWire, the communications platform that disseminated this announcement, is available at https://www.InvestorWire.com. The terms of use and disclaimers for InvestorWire content can be found at https://www.InvestorWire.com/Disclaimer.
