Laurion Announces Proposed Non-Brokered Private Placement

LAURION ANNOUNCES PROPOSED NON-BROKERED

PRIVATE PLACEMENT

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 - (December 21, 2018) – 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”). Pursuant to the Private Placement, the Corporation intends to

raise up to approximately $200,000 in gross proceeds by issuing up to approximately

2,222,223 flow-through units (the “Units”). Pursuant to the Private Placement, the Units

will be issued at a price of $0.09 per Unit.

Each Unit will consist of one common share 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 Warrant will entitle the holder thereof to acquire one non flow-through

common share of the Corporation at a price of $0.12 per share for a period of 24

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 approximately $160,000.

The gross proceeds allocable to the FT Shares comprising the 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,

2018 (provided the subscriber deals at arm’s length with the Corporation at all relevant

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

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

In connection with the Private 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 Private Placement is subject to the approval of the TSX Venture

Exchange (the “TSX-V”). The Corporation intends to close the Private Placement on or

about December 28, 2018, 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.

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About Laurion

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 137,965,639 outstanding shares of which 59.4% are owned and controlled by

Insiders and within the ‘friends and family’ category.

The Corporation’s emphasis is on the development of its flagship project, the 100%

owned mid-stage 47 km2 Ishkoday Project, and its gold-silver and gold-rich polymetallic

mineralization with a significant upside potential.

The Corporation has a property-wide database of 283 diamond drill holes totaling

40,729 m, detailed sampling, mapping, assays and geochemical analysis, and ground

geophysics. The mineralization 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

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, 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 Company in connection w ith

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 change in

the trading price of the common shares of Laurion, 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, t he 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.