Laurion Announces Proposed Non-Brokered Private Placement of Units

LAURION ANNOUNCES PROPOSED NON-BROKERED

PRIVATE PLACEMENT OF 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 - (September 16, 2019) – LAURION Mineral Exploration Inc. (TSX.V:

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

proposing to complete a private placement on a non -brokered basis (the “ Private

Placement”). The C orporation intends to ra ise $ 500,000 in gross proceeds by issuing

20,000,000 units (the “Units”) at a price of $0.17 per Unit.

Each Unit will consist of one common share of the Corporation (each, a “ Common

Share”) and one Common S hare purchase warrant (each, a “ Warrant”), with each

Warrant entitling the holder thereof to acquire one additional Common Share at a

price of $0.21 per share for a period of 24 months from the date of issuance.

As at the date hereo f, the Corporation has accepted subscription agreements for the

Private Placement in aggregate gross proceeds of $361,000.

The Corporation intends to use the net proceeds from the issue of Units for exploration

activities and general working capital purposes.

In connection with the Pri vate Placement, the Corporation may pay finders’ 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 “TSX-V”). 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

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

now has 165,630,869 outstanding shares of which 58.7% 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 signifi cant upside potential. The Ishkoday Project has a project -

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

2

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.

Mr. Jean Lafleur, P. Geo. (APGO, OGQ), LAURION ’s Technical Advisor to the Board of

Directors, is a Qualified Person as defined by National Instrument 43 -101 guidelines, and

has reviewed and approved the content of this news release.

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

Connect with LAURION on LinkedIn: http://ca.linkedin.com/pub/cynthia-le-sueur-

aquin/17/30/4b

Follow us on Twitter: @LAURION_LME

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 timing of closing 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 could differ materially from those projected herein

including as a result of a chan ge in the trading pric e of the Common S hares, the TSX -V not providing its

approval for the Private Placement. 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.