Laurion Announces Appointment of New Chief Financial Officer

LAURION ANNOUNCES APPOINTMENT OF

NEW CHIEF FINANCIAL OFFICER

TORONTO, ONTARIO (October 5, 2022) – LAURION Mineral Exploration Inc. (TSX.V: LME

and OTCPINK: LMEFF) (“ LAURION” or the “Corporation”) is pleased to announce the

appointment of Tyler Dilney as the new Chief Financial Officer of the Corporation.

Mr. Dilney is a Chartered Professional Accountant with over 10 years of experience and

has worked in the mining, technology, and oil and gas industries. He has served as a

controller and consultant for various public and private organizations, providing

accounting, financial reporting, taxation and business advisory services.

In connection with Mr. Dilney’s appointment, the Cor poration has accepted the

resignation of Miles Nagamatsu as Chief Financial Officer of the Corporation. LAURION

would like to express its sincere appreciation for Mr. Nagamatsu’s dedication and

contributions to LAURION since joining the Corporation in May 2019.

“We are delighted to welcome Tyler to our team ,” stated Cynthia Le Sueur –Aquin,

President and Chief Executive Officer of LAURION. “ His in -depth experience in

accounting, financial disclosure and capital markets, particularly as they relate to

public companies in the mining industry, should benefit LAURION greatly. More broadly,

we believe that Tyler’s solid track record will help us achieve our immediate and long -

term goals as we enter a critical juncture in the outlook for LAURION. I also want to

highlight Miles’ contributions to LAURION during his tenure . It has been a genuine

pleasure working with Miles and we are very thankful for his guidance and support of

LAURION over the years. It goes without saying that we wish him tremendous success in

his future endeavours.”

The Corporation also announces that pursuant to its stock option plan, LAURION will

grant incentive stock options to Mr. Dilney to acquire a total of 250,000 common shares

of the Corporation, exercisable for a period of five years at an exercise price of $ 0.95,

subject to vesting requirements. The issuance of Options, as contemplated in this news

release, is subject to the terms of the Corporation’s stock opti on plan and TSX Venture

Exchange (“TSXV”) approval.

Update on Recently Completed Private Placement

On September 28, 2022, the Corporation announced the closing of its previously-

announced and upsized non-brokered private placement of flow -through units, for

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aggregate gross proceeds of $2,013,105 (the “ Private Placement ”). The Corporation

wishes to clarify that i n connection with the Private Placement, an aggregate of

$32,812.55 in cash finder’s commissions was paid to certain arm’s-length finders.

About LAURION Mineral Exploration Inc.

The Corporation is a junior mineral exploration and development company listed on the

TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now

has 255,969,855 outstanding shares of which approximately 80% are owned and

controlled by Insiders who are eligible investors under the “Friends and Family”

categories.

LAURION's emphasis is on the development of its f lagship project, the 100% owned mid-

stage 47 km 2 Ishkoday Project, and its gold -silver and gold -rich polymetallic

mineralization with a significant upside potential. The mineralization on Ishkoday is open

at depth beyond the current core -drilling limit of -200 m from surface, based on the

historical mining to a -685 m depth, in the past producing Sturgeon River Mine. The

Brenbar Property, which was acquired in 2020 and is contigu ous with the Ishkoday

Property, hosts the historic Brenbar Mine. LAURION believes the mineralization to be a

direct extension of mineralization from the Ishkoday Property.

FOR FURTHER INFORMATION, CONTACT:

LAURION Mineral Exploration Inc.

Cynthia Le Sueur-Aquin – President and CEO

Tel: 1-705-788-9186

Fax: 1-705-805-9256

Website: http://www.LAURION .ca

Follow us on Twitter: @LAURION_LME

Caution Regarding Forward-Looking Information

This press release contains forward -looking statements, which reflect the Corporation’s current

expectations regarding future events, i ncluding with respect to LAURION 's business, operations

and condition, management's objectives, strategies, beliefs and intentions, and the issuance of

stock options to Mr. Dilney. The forward-looking statements involve risks and uncertainties. Actual

events and future results, performance or achievements expressed or implied by such forward -

looking statements could differ materially from those projected herein including as a result of a

change in the trading price of the co mmon shares of LAURION, the inter pretation and actual

results of current exploration activities, changes in project parameters as plans continue to be

refined, future prices of gold and/or other metals, possible variations in grade or recovery rates,

failure of equipment or processes to o perate as anticipated, the failure of contracted parties to

perform, labor disputes and other risks of the mining industry, delays in obtaining governmental

approvals or financing or in the completion of exploration, as well as those factors disclosed in

the Corporation’s publicly filed documents. Investors should consult the Corporation’s ongoing

quarterly and annual filings, as well as any other additional documentation comprising the

Corporation’s public disclosure record, for additional information on r isks and uncertainties

relating to these forward -looking statements. The reader is cautioned not to rely on these

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forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation

to update these forward-looking statements.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS

DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE

ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.