LME.V · 2024-10-21 12:00:00

Laurion Announces Proposed Non-Brokered Private Placement of Flow-Through Shares

Financings

LAURION ANNOUNCES PROPOSED NON-BROKERED

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 (October 21, 2024) – LAURION Mineral Exploration Inc. (TSX.V: LME

and OTCPINK: LMEFF) (“ LAURION” or the “Corporation”) today announced that it is

proposing to complete a flow-through private placement on a non-brokered basis (the

“Private Placement”). The Corporation intends to raise up to approximately $ 2.7 million

in gross proceeds by issuing up to approximately 5,869,566 flow-through shares (the “ FT

Shares”) at a price of $0.46 per FT Share.

Each FT Share will be 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 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.

The Corporation's President and Chief Executive Officer, Cynthia Le Sueur -Aquin,

commented: “This financing initiative aligns with LAURION’s strategic focus on

maximizing shareholder value by (i) advancing the Corporation’s flagship Ishkõday

Project while preserving a robust cash positi on, and (ii) exploring potential strategic

alternatives, such as partnerships, divestitures or other transformative transactions. The

entire proceeds from the Private Placement will be dedicated exclusively to progressing

the Ishkõday Project."

As at the d ate hereof, the Corporation has accepted subscription agreements for the

Private Placement in aggregate gros s proceeds of approximately $2,609,000. In

connection with the Private Placement, the Corporation may pay finders’ fees in the

form of cash commissions.

The c losing of the Private Placement, as well as the payment of finders’ fees in

connection therewith, are subject to the approval of the TSX Venture Exchange (the

“TSXV”). The Corporation intends to close the Private Placement on or about October

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22, 2024, subject to receipt of all necessary regulatory approvals. All securities issued

pursuant to the Private Placement will be subject to, among other things, a hold period

of four months and one day in accordance with applicable Canadian securities laws.

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 OTCPINK under the symbol

LMEFF. LAURION now has 267,821,735 outstanding shares of which approximately 72%

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

Family” categories. LA URION's emphasis is on the exploration and development of its

flagship project, the 100% owned mid -stage 57 km 2 Ishkõday Project, and its gold -rich

polymetallic mineralization.

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, the completion of

the Private Placement, the anticipated size, timing and use of proceeds of the Private

Placement, the finders’ fees that may be paid by the Corporation in connection with the Private

Placement, the Corporation’s ability to advance, expand and/ or develop the Ishkõday Project

and any possible strategic alternatives and transactional opportunities that may arise and/ or

could be procured in the future with respect to the Corporation. The forward -looking statements

involve risks and uncertainties. Actual events could differ materially from those projected herein

including as a result of a change in the trading pric e of the common s hares of the Corporation

and the TSXV not providing its final approval for the Private Placement (including the payment

of finders’ fees in connection therewith) . 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.

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

DEFINED IN THE POLICIES OF THE TSX VENT URE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE

ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

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