LME.V · 2021-11-26 12:00:00

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

Financings

LAURION ANNOUNCES PROPOSED NON-BROKERED

PRIVATE PLACEMENT OF FLOW-THROUGH UNITS

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 ( November 26 , 2021) – 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 $ 2.0 million

in aggregate gross proceeds by issuing up to approximate ly 2,666,667 flow-through

units (the “ FT Units”). Pursuant to the Private Placement, the FT Units will be issued at a

price of $0.75 per FT Unit.

Each FT Unit will consist of one common share of the Corporation to be issued as a

“flow-through share” (as de fined in subsection 66(15) of the Income Tax Act (Canada)

(the “ Tax Act ”)) (each, a “ FT Share ”) and one -half of one common share purchase

warrant (each whole common share purchase warrant , a “ Warrant”). Each whole

Warrant will entitle the holder thereof to acquire one non flow -through common share

of the Corporation at a price of $0.82 per share for a period of 12 months from the date

of issuance.

As at the date hereof, the Corporation has accepted subscription agre ements for the

Private Placement in aggregate gross proceeds of approximately $1,050,000.

The gross proceeds allocable to the FT Shares comprising the FT Units 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,

2021 (provided the subscriber deals at arm’s length with the Corporation at all rel evant

times) to the initial purchasers of FT Units in an aggregate amount not less than the gross

proceeds raised from the issue of the FT Units which are allocable to the FT Shares.

In connection with the Private Placement, the Corporation may pay finder s’ fees in the

form of cash commissions and finder’s warrants having the same attributes as the

Warrants.

The closing of the Priv ate Placement is subject to the approval of the TSX Venture

Exchange (the “ TSXV”). All securities that are 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

TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now

has 242,565,253 outstanding shares of which approximately 81% 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 f lagship project, the 100% owned mid-

stage 47 km 2 Ishkoday Project, and its gold -silver and gold -rich polymetallic

mineralization with a significant upside potential. The mineralization on 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, in the past producing Sturgeon River Mine. The

Brenbar Property, which was acquired in 2020 and is contigu ous with the Ishkoday

Property, hosts the historic Brenbar Mine. LAURION believes the mineralization to be a

direct extension of mineralization from the Ishkoday Property.

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 intent ions, the completion of

the Private Placement, the use of proceeds therefrom and the finder’s fees that may be paid by

the Corporation in connection with the Private Placement. The forward -looking statements

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

including as a result of a change in the trading pric e of the common shares of the Corporation,

the TSX V not providing its approval for the Private Placement. Investors should consult the

Corporation’s ong oing 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 cautio ned

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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