LME.V · 2024-04-15 12:00:00

Laurion Announces Closing of Private Placement of Flow-Through Shares

Financings

LAURION ANNOUNCES CLOSING OF

PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

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 (April 15, 2024) – LAURION Mineral Exploration Inc. (TSX.V: LME and

OTC: LMEFF) (“LAURION” or the “Corporation”) is pleased to announce that it has closed

its previous ly-announced non- brokered private placement (the “ Private Placement ”)

consisting of an aggregate of 3,725,633 flow-through shares (the “FT Shares ”) at a

subscription price of $0. 45 per FT Share for aggregate gross proceeds to the

Corporation of $1,676,535.

Each FT Share is a common share of the Corporation issued as a “flow -through share”

(as defined in subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”)). The

gross proceeds of the Private Placement will be used for “Canadian exploration

expenses” (within the meaning of the Tax Act), which will qualify, once renounced, as

“flow-through mining expenditures”, as defined in the Tax Act, which will be renounced

with an effective date of no later than December 31, 2024 (provided the subscriber

deals at arm’s length with the Corporation at all relevant times) to the initial purchasers

of FT Shares in an aggregate amount not less than the gross proceeds raised from the

issue of the FT Shares.

In connection with the closing of the Private Placement, a n arm’s-length finder, Mine

Equities Ltd., received an aggregate of $75,000 as a cash finder’s commission. Pursuant

to applicable Canadian securities laws, all securities issued in connection with the

Private Placement are subject to a hold period of four months and one day, expiring on

August 13, 2024. The Private Placement remains subject to the final approval of the TSX

Venture Exchange (the “TSXV”).

About LAURION Mineral Exploration Inc.

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

TSX Venture Exchange under the symbol LME and on the OTC under the symbol LMEFF.

LAURION now has 267,071,735 outstanding shares of which approximately 72% are

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

Family” categories.

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LAURION's emphasis is on the exploration and development of its flagship pro ject, the

100% owned mid- stage 5 7.43 km2 Ishkoday Project, and its gold -rich polymeta llic

mineralization.

LAURION’s chief priority remains maximizing shareholder value while simultaneously

embracing and considering the principles and best practices of environmental, social,

and corporate governance (ESG) issues. A large portion of the Cor poration’s focus in

this regard falls within the ambit of its mineral exploration activities and more

specifically, advancing the Ishkoday Project.

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

Doug Vass - Investor Relations Consultant

Email: [email protected]

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, management's objectives, strategies, beliefs and intentions, and the use of

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 of LAURION, the

TSXV not providing its final approval for the Private Placement, the interpretation and actual

results of current expl oration 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 contra cted 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. I nvestors 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 for ward-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 REGU LATION 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.

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