LAURION Provides Update on Corporate Activities and Strategic Objectives
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LAURION Provides Update on
Corporate Activities and Strategic Objectives
TORONTO, ONTARIO (September 27, 2022) – LAURION Mineral Exploration Inc. (TSX.V: LME
and OTCPINK: LMEFF) (“ LAURION” or the “Corporation”) , wishes to announce the
successful completion of its 2022 Exploration Program , and is pleased to provide an
update on its corporate activities and strategic objectives. In regards to its wholly-owned
Ishkoday project, which is located 220 km northeast of Thunder Bay, Ontario (“Ishkoday”
or the “Project”), LAURION’s extensive field work to -date has identified and confirmed
several new surface targets within the 6km strike. The Corporation’s 2022 Exploration
Program ends the five-year key stage exploration program, which was initiated in 2018.
“We are very pleased with the results of our 2022 diamond drilling program, which
contributed appreciably to our knowledge base in advancing LAURION’s flagship
Ishkoday Project, significantly increasing the mineral exploration potential of the project,”
stated Cynthia Le Sueur-Aquin, President and CEO of LAURION.
As well, the Corporation’s capital-raising efforts over the past few years, including the
recently-announced over-subscribed private placement of flow -through units, have
further bolstered LAURION’s financial health , which leaves the Corporation well -
positioned to continue advancing the Project, while exploring strategic opportunities with
maximizing shareholder value being top of mind.
We are at an important juncture in the outlook for LAURION. The Corporation’s Boa rd of
Directors and management continue to work towards developing and executing a
strategy to deliver value creation to the Corporation’s shareholders. The Corporation
believes that its flagship asset, the Project, offers short-term transformational opportunities
with the potential development of revenue streams, hosted within the orogenic and gold
/ polymetallic veins.
LAURION’s objective for Ishkoday is to initiate development and production on surface
stockpiles, as well as to continue exploration of the project, implementing a phased and
strategic approach to achieve these target objectives. LAURION recently announced
that it is currently in discussions with DRA Americas Inc. (“DRA”) for consulting and
engineering services to develop the stockpile and shaft-based project. It is currently
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contemplated that, pursuant to such an engagement, DRA would conduct all the
techno-economic studies for the stockpile and also manage any additional metallurgical
test-work that may be required.
Highlights of the 2022 Exploration Program Activities on Ishkoday
• Drilling 2020-2022 significantly expanded the Ishkoday Au-Zn-Cu-Ag deposit
• 2022 Drill Program comprised of 14,211.5 m in 46 drill holes, defined new mineralized
zones that were successfully tested with this drilling program which significantly
increased the mineral exploration potential
• The stacked vein system occurs from surface to 300 m vertical depth , and remains
open at depth and along strike.
• In 2021, the stacked vein system in the A-Zone and McLeod Zone covered an area
of 1.1 km by 250 m . The 2022 Drilling expanded the potential of the area by 1.5 km
by up to 400 m in the A-Zone and up to 600 m in the McLeod Zone.
• The 2022 drilling and mapping programs have demonstrated that the stacked vein
system remains open at depth and to south west, suggesting that the mineral
exploration potential of the Ishkoday Au -Zn-Cu-Ag deposit could increase much
more in the future.
• The 2022 mapping and channel sampling program was successful in opening up key
areas to the west of the McLeod and CRK Zones and assisting with the critical
structural and alteration mapping, crucial to the enhancement of the 3D model and
future drill targeting.
Our Primary Focus
LAURION’s chief priority remains maximizing shareholder value while simultaneously
embracing and considering the principles and best practices of environmental, social,
and corporate governance (ESG) issues. A large portion of the Corporation’s focus in this
regard falls within the ambit of its mineral exploration activities and more specifically,
advancing the Project. A consequence of LAURION’s success and advancement over
the past several years is that the Corporation has become positioned as an acquisition
target for appropriate potential acquirors. Accordingly, the Corporation’s Board of
Directors is aware that possible strategic alternatives and transactional opportunities may
arise and/or could be procured in the short or medium term s. The Corporation will
promptly issue a press release if any material change occurs. In the meanwhile, LAURION
will continue to seek out and explore opportunities and potential transactions that are
strategically beneficial to the Corporation and its shareholders.
Over the years, LAURION has formed several alliances with industry specialists in order to
provide the Corporation with support and a wide breadth of expertise highlighted by
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innovative approaches and new techniques, all with the aim to achieve the next level
exploration successes and development of efficient operations.
The Board of Directors believes that these alliances will help foster the continued
advancement of the Project and, potentially, support a prospective strategic
transaction.
Expected Upcoming New NI 43-101 Technical Report
With an eye towards ensuring that LAURION is well-prepared in the event that it is faced
with a potential merger, acquisition, significant financing or other capital markets event
that it wishes to pursue , the Corporation’s Board of Directors is evaluating the prospect
of commissioning a new NI 43-101 technical report for the Project, thereby allowing all of
the important scientific and technical data that has been collected and publicly
disclosed by the C orporation since April 23, 2013 (being the effective date of Laurion’s
latest NI 43 -101 technical report) can be included in one of the following potential
documents: (i) an information, proxy or take-over bid circular; (ii) a prospectus; or (iii) an
annual information form. Laurion’s latest NI 43 -101 technical report , which is entitled
“Technical Report on the Resource Estimate on the Sturgeon River Mine Waste Pile and
Tailings, Ishkoday Property, Northern Ontario”, was a “mineral resource estimate” on the
Project and the report was filed on SEDAR on June 12, 2013. The Corporation’s Board of
Directors is currently considering whether LAURION’s next technical report on the Project
should be a mineral resource estimate update or whether it should be a “prelim inary
economic assessment” (als o known as a “scoping study”). The Board of Directors will
discuss this topic further with management and the Corporation’s advisors, third -party
experts and qualified persons and will make a determination in the near future. The Board
of Directors believes that a new NI 43-101 technical report could serve as a cornerstone
disclosure document that may potentially unlock, facilitate and support a prospective
strategic transaction, while also consolidating all of the scientific and technical
information regarding the Project.
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 254,052,613 outstanding shares of which approximately 80 % are owned and
controlled by Insiders who are eligible investors under the “Friends and Family”
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categories.
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
with a significant upside potential.
Since 2003, Laurion has: completed multiple exploration surveys on the property,
including prospecting, mapping, ge ochemical (grab, channel and soil sampling),
ground and airborne geophysical (Mag, IP, VLF-EM), 3D modelling, airborne (LiDAR) and
drilling surveys; invited experts in geophysics and in economic and structural geology to
visit and review the property; and undertaken a PhD thesis and research led by
Laurentian University and Metal Earth. To date, 419 drill holes for a total of 78,663 m have
been drilled on the property, including 43,396 m completed by Laurion from 2010 to 2014
and from 2020 to 2022 and 35,267 m historic drill holes. Most of the drill holes are closely-
spaced and concentrated within the A-Zone and McLeod zone, except for some largely-
spaced drill holes located along the Ishkoday mineralized trend.
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
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 Corporation’s
ability to complete a new NI 43 -101 techn ical report, any potential acquisitions or other
transactions referenced herein and any potential future arrangements and engagements wi th
DRA and/or its affiliates . 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 projected 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 exploration activities, changes in project parameters as plans continue to be
refined, future prices of gold an d/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 governm ental
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 additi onal 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.
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NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESP ONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.