LME.V · 2021-08-19 12:00:00

LAURION Announces Incentive Stock Option Grants

Share Capital & Compensation

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 (August 19, 2021) – LAURION Mineral Exploration Inc. (TSX.V: LME and

OTCPINK: LMEFF) (“LAURION” or the “Corporation”) announces that it has granted to

each of John Covello and Nick Ierfino incentive stock options (“ Options”) to acquire

18,106 common shares of the Corporation, exercisable on or before August 19, 2026 at

an exercise price of $0.55 per share, subject to vesting requirements. These Options are

part of a discretionary performance bonus awarded to Mr. Covello and Mr. Ierfino (who

are both directors of the Corporation) in recognition of their significant contributions to

the Corporation’s capital raising initiatives.

The issuance of Options, as contemplated in th is news release, is subject to the terms of

the Corporation’s stock option plan and TSX Venture Exchange (“TSXV”) approval.

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. The

Corporation currently has 233,556,667 outsta nding shares, of which approximately 79%

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 47 km 2 Ishkoday Project, and its gold-ric h polymetallic mineralization with a

significant upside potential. The mineralization on Ishkoday is open at depth beyond the

current core-drilling limit of -200m from surfac e, based on the historical mining to a -685

m depth, in the past producing Sturgeon River Mine. The recently acquired Brenbar

Property, which is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine

and LAURION believes the mineralization to be a direct extension of the Ishkoday

Property.

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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,

management's objectives, strategies, beliefs and intentions and the issuance of Options. 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 the interpretation and actual results of current exploration activities, the TSXV not

providing its approval for the granting of Options, changes in project parameters as plans continue to be

refined, future prices of gold and/or other metals, possi ble 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.

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