LAURION Announces Stock Option Grants

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LAURION Announces Stock Option Grants

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 (June 2, 2020) – Laurion Mineral Exploration Inc. (TSX.V: LME and

OTCPINK: LMEFF) (“LAURION” or the “Corporation”) announces that it has today

granted an aggregate of 1,500,000 incentive stock options (“ Options”) to a number

of its officers, directors, employees and consultants. The Options are exercisable for a

period of five years at a price of $0.17 pe r share and will vest over a period of two

years.

Specifically, the aforementioned Options were allocated in the following manner:

Name of

Optionee

Position with the

Corporation

No. of

Options

Vesting

Cynthia Le Sueur-Aquin

President, Chief

Executive Officer and

Chair

500,000

33.33% on the date

of grant; 33.33% on

the first anniversary

of the date of

grant; and 33.34%

on the second

anniversary of the

date of grant.

Michael Burmi Director 150,000

John Covello Director 150,000

Scott Biloski

VP of Operations and

Member of the

Technical Advisory

Management Board

(the “Advisory

Board”)

150,000

David Lewis Exploration Manager 50,000

William Pearson Member of the

Advisory Board 250,000

Neil Westoll Member of the

Advisory Board 250,000

Furthermore, LAURION has granted one of the above-listed individuals, John Covello,

additional Options to acquire a total of 217,379 common shares of the Corporation,

exercisable on or before June 2, 2025 at an exercise price of $0.17 per share, subject

to vesting requirements. These additional Options are part of a discretionary

performance bonus awarded to Mr. Covello in recognition of his significant

contributions to the Corporation’s capital raising initiatives.

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The issuance of Options, as contemplated in this news release, is subject to the terms

of the Corporation’s stock option plan and TSX Venture Exchange (“TSXV”) approval.

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 181,125,977 outstanding shares of which approximately 59% 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 48,879 m,

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 limi t of -200 m from surface, based on the

historical mining to a -685 m depth, in the past producing Sturgeon River Mine. The

recently acquired Brenbar Property, which is contiguous with the Ishkoday Property,

hosts the historic Brenbar Mine and LAURION believes that the mineralization to be a

direct extension of mineralization from the Ishkoday Property.

M r . D a v i d L e w i s , P . G e o . ( A P G O , O G Q ) , L A U R I O N ’ s E x p l o r a t i o n M a n a g e r a n d

Technical Advisor to the Board of Director s, is a Qualified Person as defined by

National Instrument 43-101 guidelines and has reviewed and approved the technical

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 wi th respect to LAURION's business, operations and

condition, management's objectives, strategies, beliefs and intentions, and the issuance of Options. The

forward-looking statements involve risks and uncertainties. Actual events and future results, performance

or achievements expressed or implied by such forwar d-looking statements could differ materially from

those projected herein including as a result of the interpretation and actual results of current exploration

activities, the TSXV not providing its approval for the granting of Options, changes in project parameters

as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or

recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted

parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental

approvals or financing or in the completion of exploration, as well as those factors disclosed in the

Corporation’s publicly filed documents. Investors should consult the Corporation’s ongoing quarterly and

annual filings, as well as any other additional documentation comprising the Corporation’s public

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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.