Laurion Provides Updates ON Exploration Program at Ishkoday and Previously-Announced Private Placement
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LAURION PROVIDES UPDATES ON
EXPLORATION PROGRAM AT ISHKODAY AND
PREVIOUSLY-ANNOUNCED 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 (June 14, 2019) - Laurion Mineral Exploration Inc. (TSX.V: LME) and
(OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to provide an update on the
2019 exploration program (the “ Stage 2 Campaign ) at the Corporation’s wholly-owned
Ishkoday Project (“Ishkoday”) located 220 km northeast of Thunder Bay (Ontario).
Mechanized outcrop stripping, power washing, geological mapping and channel sampling
were initiated in three sectors of Ishkoday: (1) TR18-3, on the southwest extension of the multi-
kilometric Marge-“F” Quartz Veins system; (2) TR 19-1, on the Sturgeon Mine No. 3 Vein; and (3)
the CRK Sulphide Veins. Confirming the extensio ns of known and new gold bearing quartz and
polymetallic sulphide veins in these sectors will ultimately help in completing the construction
of the 2-D and 3-D geological-mineralization model (the “Model”).
Early field observations include:
a) the major northeast trending quartz veins, such as the Marge-“F” and the No. 3 quartz
veins, are in the surface exposed Sturgeon River Porphyry, and are accompanied by
pervasive quartz-carbonate and pyrite-chalcopyrite (iron and copper sulphides)
centimeter and millimeter wide sub-vertical and flats veins, veinlets and stringers (the
“Quartz Veins”);
b) the Quartz Veins extend for hundreds of meters in strike lengths and widths;
c) historic geology maps from the drifts and cr osscuts of the historic Sturgeon River Mine
(1935-1942) indicate a similar pattern of vein ing to more than 400 m below surface that is
also validated by the “waste rock” stockpile;
d) channel sampling of stripped areas is focused not only on determining grades of the
larger centimeter to meter wide quartz veins, but also the vein-veinlets-stringer bearing
host rock; and
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e) the CRK sulphide gold-silver-zinc-copper vein is now believed to be more extensive in
length and width, encompassing multiple historic showings, such as the “A” Zone,
previously tested by LAURION, located more than 1.4 km to the northeast, and the Tehya,
Joe, Ahki, “D” and McLeod sulphide veins located from 250 m to 800 m to the north,
southwest and northeast, strongly suggesting the presence of a significant 2 km by 400 m
wide sulphide corridor of massive, semi-massive and disseminated sulphide vein
stockwork.
The Stage 2 Campaign forms part of the 2018-2019 exploration initiated in May 2018 as a
three-staged 18-month program with the strategic objective of outlining the bulk precious and
base metals upside potential at Ishkoday. The Model will be constructed in conjunction with
the confirmation of the lateral and cross-strike continuity of the mineralization, providing
LAURION with a solid technical background model to initiate diamond drilling to prove the
upside potential as part of the Stage 3 program later this year. The Stage 2 Campaign is slated
for completion at the end of the third quarter of 2019.
Private Placement
The Corporation also announces that its previously announced non-brokered private
placement (the “ Private Placement ”) of units (each, a “ Unit”) remains in progress due to
continued investor interest, and any closing of a subsequent tranche of the Private Placement
has been extended for a further 30 days from the date of this news release.
On May 10, 2019, the Corporation announced that it has closed the first tranche of the Private
Placement, whereby the Corporation issued 10,000,000 Units at a price of $0.10 per Unit for
aggregate gross proceeds to the Corporation of $1 million. As previously announced, the
Corporation intends to ultimately raise $2.0 million pursuant to the Private Placement.
Each Unit consists of one common share of the Corporation (each, a “ Common Share”) and
one Common Share purchase warrant (each, a “ Warrant”), with each Warrant entitling the
holder thereof to acquire one additional Commo n Share at a price of $0.14 per share for a
period of 24 months from the date of issuance.
The Corporation intends to use the net proceeds from the issue of Units for exploration activities
at Ishkoday and general working capital purposes.
The Private Placement remains subject to the fina l approval of the TSX Venture Exchange (the
“TSX-V”).
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
153,470,084 outstanding shares of which 55.1% are owned and controlled by Insiders and
within the “friends and family” category.
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LAURION’s emphasis is on the development of it s flagship project, the 100% owned mid-stage
44 km 2 Ishkoday Project, and its gold-silver and go ld-rich polymetallic mineralization with a
significant upside potential. The Ishkoday Proj ect has a project-wide database (2008 to 2018)
that includes 283 diamond drill holes tota ling 40,729m, geological mapping, ground
geophysics, and 14,992 individual samples with assays and geochemical analysis. The
mineralization on the Ishkoday is open at depth beyond the current core-drilling limit of -200 m
f r o m s u r f a c e , b a s e d o n t h e h i s t o r i c a l m i n i n g t o a - 6 8 5 m d e p t h , a s e v i d e n c e d i n t h e p a s t
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 news release contains forward-looking statements, which re flect the Corporation’s current expectations regarding future
events, including with respect to Laurion's business, operations and condition, the completion of any subsequent tranches of th e
Private Placement, the anticipated timing and closing of any subsequent tranches of the Private Placement and the use of
proceeds from the Private Placement, future plans for the development of the Corporation and/or the Ishkoday Gold Project, and
management's objectives, strategies, beliefs and intentions.
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 di ffer materially from those projected herein including as a resu lt
of a change in the trading price of the Common Shares, the TSX-V not providing its final approval for the Private Placement, th e
interpretation and actual results of current exploration activiti es, changes in project parameters as plans continue to be refi ned,
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, de lays in
obtaining governmental approvals or financin g or in the completion of exploration, as well as those factors disclosed in the
Corporation’s publicly filed documents. Investors should consul t the Corporation’s ongoing quarterly and annual filings, as wel l as
any other additional documentation comprising the Corporation’s public disclosure record, for additional information on risks a nd
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.