Laurion Announces Establishment of Technical Advisory Management Board and Issuance of Stock Options

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LAURION ANNOUNCES ESTABLISHMENT OF TECHNICAL ADVISORY MANAGEMENT

BOARD AND ISSUANCE OF STOCK OPTIONS

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 - (July 16, 2019) – Laurion Mineral Exploration Inc. (TSX.V: LME and

OTCPINK: LMEFF) (“ LAURION” or the “Co rporation”) is pleased to announce the

formation of a Technical Advisory Management Board (the "Advisory Board") to provide

advice and peer review to the Board and LAURION management with respect to

ongoing exploration efforts on the Ishkoday Project. The Advisory Board is comprised of

the following individuals:

 Dr. Neil D.S. Westoll: Dr. Westoll brings more than 45 years of diverse international

experience in resource exploration and business development, having worked

with some of the world’s largest mining companies in key management roles,

such as Mining Practice Leader and later on as an indep endent consultant. He

has initiated, developed and negotiated agreements with landowners and

governments worldwide. He is a previous Chairman of the Toronto Branch of the

Canadian Institute of Mining, Metallurgy and Petrole um, and a former member

of the board of PDAC.

 Dr. William Pearson: Dr. Pearson is an economic geologist with over 45 years’

experience in the national and international mining industry. He has held senior

executive positions with junior and intermediate mining companies active in

exploration, mine development and production, with experience in all phases of

mining. Dr. Pearson is a present and past director of several publicly traded

mining companies. He is also the founding President of the Association of

Professional Geoscientists of O ntario (APGO) and a past director of Geoscience

Canada.

 Jean Lafleur: Mr. Lafleur is a professional geologist with over 30 years of

experience in the national and international mining industry. Among other things,

he has held senior management and board positions at a wide spectrum of

private and publicly -traded mining companies . He has also acted as a senior

advisor and consultant for a number of junior exploration companies.

 Scott Biloski: Mr. Biloski is a Civil Engineering Technologist and President and Co-

Owner of Biloski Brothers Sand and Gravel Ltd., which has been in business for 71

years serving Northwestern Ontario. Mr. Biloski is a third generation owner of this

family business, with over 25 years of experience in the Aggregate and

Construction Industry.

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 E. Terry Jensen: Mr. Jensen is a senior level geologist, hydro-geologist and project

manager with more than 35 years of both private and government experience,

encompassing technical, project management and senior management level

consulting.

“We are extremely excited to have assembled a Technical Advisory Management

Board with such a wide breadth of experience a nd expertise in exploring and

developing mining projects,” said Cynthia Le Sueur -Aquin, President and Chief

Executive Officer of the Corporation. “The Technical Advisory Management Board will

be a tremendous asset to LAURION , enabling us to leverage the extensive knowledge

of these industry leaders.”

Issuance of Stock Options

The Corporation also announces that pursuant to its stock option plan, subject to TSX

Venture Exchange (the “ TSX-V”) approval, LAURION has today granted each of the

following individuals incentive stock options (“Options”) to acquire 250,000 common

shares of the Corporation (with all of the Options issued today being exercisable for an

aggregate of 750,000 common shares):

 Scott Biloski, the VP of Operations;

 Michael Burmi, a newly appointed director; and

 John Covello, a newly appointed director.

The Options have a ten year term and an exercise price of $0.11 per share. One third of

the Options vest immediately, one-third of the Options will vest on the first anniversary of

their date of grant and the remaining one -third of the Options will vest on the second

anniversary of their date of grant.

About LAURION

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

TSX-V under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION

now has 153,850,084 outstanding shares of which 62% 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 flagship project, the 100% owned mid -

stage 44 km 2 Ishkoday Project, and its gold -silver and gold -rich polymetallic

mineralization with a significant upside potential. The Ishkoday Project has a project -

wide database (2008 to 2018) that includes 283 diamond drill holes totaling 40,729 m,

geological mapping, ground geophysics, and 14,992 individual samples with assays

and geochemical analysis. The mineralization on the 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, as evidenced in the past producing Sturgeon River Mine.

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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,

the Options and LAURION’s stock option plan, and management's objectives, strategies, beliefs and

intentions. 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 TSX-V not providing its approval for the granting of Options, the interpretation and

actual results of current exploration activities, changes in proj ect 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 factors disclosed in the Corporation’s publicly filed

documents. Investors should consult the Corpora tion’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 TER M IS DEFINED IN

THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR

ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.