Laurion Announces Closing of Non-Brokered Private Placement and General Corporate Update
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LAURION ANNOUNCES CLOSING OF NON-BROKERED
PRIVATE PLACEMENT AND GENERAL CORPORATE UPDATE
NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR DISSEMINATION.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION
TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
TORONTO, ONTARIO - (March 22, 2018) – Laurion Mineral Exploration Inc. (TSX.V: LME and
OTCPINK: LMEFF) (“Laurion” or the “Corporation”) today announced that it has closed its
previously-announced non-brokered private placement (the “ Private Placement”)
consisting of 4,340,000 units (“Units”) at a subscription price of $0.05 per Unit for aggregate
gross proceeds to the Corporation of $217,0 00. Each Unit is comprised of one common
share (each, a “Common Share”) and one Common Share purchase warrant (each, a
“Warrant”). Each Warrant entitles the holder to purchase one additional Common Share
at an exercise price of $0.07 for a period of 24 months following the date of issue, subject
to customary adjustment provisions.
The Corporation intends to use the net proceeds of the Private Placement for exploration
activities and general working capital purposes. The Corporation did not pay any agent
or broker commissions or finders’ fees in connection with the Private Placement.
Pursuant to applicable Canadian securities laws, all securities issued pursuant to the
Private Placement are subject to a hold period of four months and one day, expiring on
July 23, 2018.
Update on the Ishkoday Project
Laurion’s Ishkoday Project is a mid-stage exploration project. The Corporation’s emphasis
is on the development of its gold-rich polymetallic mineralization with a significant upside
potential.
Mineralization on the Ishkoday exhibits repetitive stacked gold and zinc-rich sulphides in
lenses and veins, visible in the mineralized outcrop exposure, which also contains a
material amount of fine and coarse gold . The mineralization appears open at depth
beyond the current core drilling limit of -200m from surface, based on the historical mining
to a -685m depth.
The Corporation’s main objective is to valid ate the existence of a large near surface
significant gold-polymetallic target over a 3km2 area.
The Ishkoday Project also hosts the high grade gold past producer (1930’s-1940’s
vintage), the #3 Vein of the Sturgeon River Mine (24 g/t Gold), which produced a large
gold and silver bearing stockpile of 144,0 70 tonnes, thus offering potential revenue
generation opportunities within the proximity of the shaft area.
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The Ishkoday hosts a series multi-directional veins (and stockworks). The N-NE vein sets are
gold-quartz bearing; whereas the NE-E sets are gold, silver, zinc and copper bearing. The
abundance and proximity of these vein sets within a 3km by 1km outcrop segment of
Ishkoday highlights the probability for near surface bulk metal potential, and the same
time offering a Volcanogenic Massive Sulphide (VMS) metallogenic environment, as well
as individual higher gold grade veins that could be developed separately.
Previous work since the 1980’s indicates th e presence of hundreds of shears, hence
hundreds of veins, suggesting the potential for material vein stockworks as can be
observed at other deposits in Archean Greenstone Belts, such as the Dome, Canadian-
Malartic, Detour and Sigma-Lamaque Gold Deposits of the Abitibi Greenstone Belt. In the
case of the Ishkoday Project, it is evident that there are two mineralized systems, one
gold-rich and the other gold-zinc-silver-copper.
The Corporation has designed a strategic three-phased exploration program over the
next thirty-six months, which aims to define a Gold Bulk Metal approach, concentrating
on rapidly defining and expanding near surface Mineral Resources in Gold, Silver, Zinc
and Copper.
Mr. Jean Lafleur, P. Geo., Laurion’s Technical Advisor to the Board of Directors, is a
Qualified Person as defined by National Instrument 43-101 guidelines, and has reviewed
and approved the content of this news release.
About Laurion
Laurion Mineral Exploration Inc. is a small-cap junior exploration company focused on its
wholly owned 47km2 Ishkoday Project.
The Corporation’s main objective is to demo nstrate the existence of near surface Bulk
Metal mineralization, within a Bulk Gold and/or Gold bearing Volcanogenic Massive
Sulphides (“VMS”) which extend over a 1 km x 3 km area (collective total strike length of
9,000 m) and also on the remainder of the project.
The Ishkoday Project is located 220km NE of Thunder Bay and 28km NE of Beardmore and
conveniently straddles Highway #807. The Ishkoday property has favourable year round
access and proximity to all services, including grid power and water supply, which
management believes translates to lower exploration and development costs.
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
Caution Regarding Forward-Looking Information
This press release contains forward-looking statements, which reflect the Corporation’s current expectations
regarding future events, including with respect to Laurion's business, operations and condition,
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management's objectives, strategies, beliefs and in tentions, the use of net proceeds from the Private
Placement. 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 Common
Shares, the TSX Venture Exchange not providing its final approval for the Private Placement, the interpretation
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 operate 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 fa ctors 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 risks and uncertainties relating to these forward-looking statements. The reader is cautioned
not to rely on these 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.