LAURION Appraises Progress on Ishkoday to Date and Plans for Generative 2023 Exploration Program

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LAURION Appraises Progress on Ishkoday to Date and Plans

for Generative 2023 Exploration Program

TORONTO, ONTARIO (January 24, 2023) – LAURION Mineral Exploration Inc. (TSX.V: LME

and OTCPINK: LMEFF) (“ LAURION” or the “Corporation”), is pleased to provide a progress

report to its shareholders to date, on its 100%-owned Ishkoday property and share its developing plans

for 2023.

In the Corporation’s view, significant advances in exploration of the Ishkoday property were achieved

during 2022, leading to a much better understanding of the genetic processes involved in the combined

gold-base metals mineralization seen within a large corridor across the property, which exceeds 1

kilometre in width in places and is estimated to be at least 6 kilometres long. The metal endowment

within this significant volume of rock is rich; vectoring in to where it is concentrated in an exploitable

volume of rock remains the ongoing focus of exploration.

Insights and understanding obtained during the 2022 field season will now drive this effort. The

anastomosed swarm of gold and/or base metal mineralized structures that comprise the Ishkoday

complex shows great diversity of mineral and alteration assemblages hosted within a similarly diverse

set of overlapping structures. However, the 2022 exploration program enabled Laurion to highlight two

distinct mineralizing events separated in time and distinct in metal association.

The first mineralizing event , informally referred to as “Ishkoday style”, is characterized by zinc-

dominated mineralization also hosting variable concentrations of copper, lead, gold and silver . This

mineralization was emplaced mainly as veins within structures that comprise a fault zone between two

intrusive stocks, that was in turn intruded by a series of intermediate dykes. The Ishkoday event could

be related to nearby porphyry-type mineralization generated in a shallow intrusive complex. Age dating

indicates that s ome 40 million years later, an orogenic system likely originating from a splay of the

nearby Paint Lake fault, emplaced orogenic gold-bearing quartz vein-type mineralization, referred to as

“Sturgeon River style”, exploiting parts of the same fault system as that where earlier, Ishkoday style

gold-base metal mineralization was emplaced, along with new structures generated within. A more

detailed presentation on “The Ishkoday Story” is currently in preparation and will soon be available at

LAURION’s website for its shareholders.

An example of minerlization diversity at Ishkoday can be seen in recently obtained results from channel

sampling completed at the end of the 2022 summer field season, a selection of which is displayed in

the table below. The distinction between, and overlap of, the two mineralizing events is readily inferred

from the various groupings displayed in this table.

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The refined exploration model now available in light of this improved understanding of mineralization

seen at Ishkoday and as corroborated in sample data such as that displayed above, enables LAURION’s

exploration team to focus forthcoming field efforts where critical features such as alteration style along

with structure, as well as mineralization, indicate the presence of, or potential for, Sturgeon River style

orogenic gold mineralization either alone and/or superimposed upon earlier Ishkoday style gold -base

metals mineralization. The planned exploration activity will focus on zones of potential concentrated

mineralized structures as to conceivably generate the grade and tonnage necessary to be considered for

potential development. The exploration program is expected to include detailed mapping in and around

the historical Sturgeon River gold mine where a more brittle fracture style of orogenic (Sturgeon River

style) gold mineralization is known, in order to determine where additional mineralized structures may

be concentrated.

Part of the Corporation’s future exporation efforts will include revisiting and relogging select historical

drill holes to identify any zones where these same features, the significance of which is now more

clearly understood, may indicate potential that was previously overlooked. All new data generated in

these combined field and relogging efforts will be fed into the evolving three -dimensional deposit

model, the objective being the delineation of targets for the Corporation’s planned drill program.

The abundance of both gold and base metals endownment throughout the mineralized corridor that

comprises the Ishkoday mineral system , appears to be evidence of large volumes of m etal-bearing

hydrothermal fluids having migrated through a large volume of rock. LAURION aims to locate where

one or both of the two foundational mineralizing events – Ishkoday then Sturgeon River – were

sufficiently well focused within one or more portions of this corridor. LAURION is very pleased with

this interpretive breakthrough it has achieved and encouraged with the exploration potential that this

may portend. The C orporation looks forward to providing updates and additional information to its

shareholders throughout 2023.

Qualified Person

The technical contents of this release were reviewed and approved by Jean -Philippe Paiement, PGeo,

MSc, a consultant to LAURION, and a qualified person as defined by National Instrument 43 -101 –

Standards of Disclosure for Mineral Projects.

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 256,809,855

outstanding shares of which approximately 80% are owned and controlled by Insiders who are eligible

investors under the “Friends and Family” categories.

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LAURION'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.

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 intentions, the Corporation’s a bility to advance the Ishkoday p roject, and the nature, focus and potential results of the

Corporation’s future exploration efforts, including its planned exploration activities for the Ishkoday project in 2023. The

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

expressed or implied by such forward -looking statements could differ materially from those pr ojected herein including as a

result of a change in the trading price of the common shares of LAURION, the interpretation and actual results of current and

future exploration activities, 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 a s 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 EXCH ANGE) ACCEPTS RESPONSIBILITY FOR THE

ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.