LME.V · 2020-03-19 12:00:00

Laurion Announces Proposed Non-Brokered Private Placement of Units

Financings

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 (March 19, 2020) – LAURI ON Mineral Exploration Inc. (TSX.V: LME

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

proposing to complete a flow-through and non flow-through private placement on a

non-brokered basis (the “ Private Placement ”). Under the flow-through portion of the

private placement, the Corporation intends to raise up to approximately $100,000 in

gross proceeds by issuing up to approximately 606,061 flow-through units (the “ FT

Units”). Under the non flow-through portion of the private placement, the Corporation

intends to raise up to approximately $60,000 in gross proceeds by issuing up to

approximately 363,637 non flow-through units (the “ Non-FT Units” and collectively with

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

price of $0.165 per Unit.

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

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

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

a “Warrant”). Each Non-FT Unit will consist of one non flow-through common share of

the Corporation and one Warrant. Each Warrant (whether comprising part of a FT Unit

or a Non-FT Unit) will entitle the holder thereof to acquire one non flow-through

common share of the Corporation at a price of $0.21 per share for a period of 12

months from the date of issuance.

As at the date hereof, the Corporation has accepted subscription agreements for the

Private Placement in aggregate gross proceeds of $118,000.

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,

2020 (provided the subscriber deals at arm’s length with the Corporation at all relevant

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 Un its which are allocable to the FT Shares. The

Corporation intends to use the net proceeds from the issue of Non-FT Units for

exploration activities and general working capital purposes.

In connection with the Private Placement, th e 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 Private Pl acement 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 ho l d p e r i o d o f f o u r m o n t h s a n d o n e d a y i n

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 179,628,395 outstanding shares of which approximately 58% 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-silver and gold-rich polymetallic

mineralization with a significant upside potential. Ishkoday has a project-wide database

(2008 to 2019) that includes 307 diamond drill holes totaling 48,879m, geological

mapping, ground and airborne geophysics, and 21,800 individual samples with assays

and geochemical analysis. The mineralization on Ishkoday is open at depth beyond the

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

m depth, 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

Caution Regarding Forward-Looking Information

This press release contains forward-looking stat ements, which reflect the Corporation’s current

expectations regarding future events, including with respect to LAURION’s business, operations

and condition, management's objectives, strategi es, 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-lookin g statements involve risks and uncertainties.

Actual events could differ materially from those projected herein including as a result of a

change in the trading price of the Common Shares, the TSX-V not providing its approval for the

Private Placement. Investors should consult th e Corporation’s ongoing quarterly and annual

filings, as well as an y 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 REGU LATION SERVICE PROVIDER (AS THAT TERM IS

DEFINED IN THE POLICIES OF THE TSX VENTUR E EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE

ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

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