LAURION Reaffirms Strategy for Continued Growth Model, Signaling the Corporation is Stronger and More Resilient Than Ever
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LAURION Reaffirms Strategy for Continued Growth Model, Signaling
the Corporation is Stronger and More Resilient Than Ever
LAURION’s chief priority remains maximizing shareholder value by continuing to
advance its Ishkoday Project, while continuing to explore potential strategic
alternatives and transactional opportunities.
LAURION’s current strong financial position, with a cash position of approximately
$9.45 million, coupled with its success in advancing the Ishkoday Project over the past
several years, leaves the company well-positioned to bolster long-term shareholder
value through its ongoing corporate growth via its Ishkoday Au-Zn-Cu-Ag deposit.
LAURION’s objective for the Ishkoday Project is to initiate development and
production, as well as to continue exploration of the project, implementing a phased
and strategic approach to monetize the available material throug h recovery of
contained gold within the stockpiles and/or existing shaft.
LAURION aims to advance the Ishkoday Project with the support of strategic alliances
with certain third parties and industry experts. LAURION believes that these alliances
should help the company achieve further exploration and operational milestones,
which in LAURION’s opinion, may make LAURION a more attractive target or partner
for a potential merger, acquisition, significant financing or other capital markets
event.
Key exploration milestones achieved in 2022 not only validated the 6km x 2.5km
mineralized corridor and extend ed A-Zone to the McLeod Zone by 400m to 1.4km,
but also significantly expanded the mineralized trends, confirming that the stacked
vein system remains open at depth and along strike.
TORONTO, ONTARIO (October 11, 2022) – LAURION Mineral Exploration Inc. (TSX.V: LME
and OTCPINK: LMEFF) (“LAURION” or the “Corporation”), wishes to reassure investors
that it is well -positioned to advance the Ishkoday Project and capitalize on any
potential strategic opportunity that may present itself in the future, all of its projects
remain on-track, and LAURION is stronger and more resilient that ever.
In management’s view, LAURION’s recent appointment of its new Chief Financial
Officer, Tyler Dilney, will strongly complement the Corporation’s strategic objective s.
In particular, Tyler’s in-depth experience in accounting, financial disclosure and
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capital markets, especially as they relate to public companies in the mining industry,
should benefit LAURION greatly. More broadly, management believes that Tyler’s solid
track record will help us achieve our immediate and long term goals as we enter a
critical juncture in the outlook for LAURION.
As previously announced via a news release dated September 27, 2022, LAURION is
currently in discussions with DRA Americas Inc. (“DRA”) for consulting and engineering
services to develop the stockpile and shaft-based project at Ishkoday, with the goal
of monetizing the available material through recovery of contained gold within the
stockpiles and/or existing shaft.
Simultaneously with the continuing advancement of the Ishkoday Project, LAURION
aims to continue ramping up its exploration programs with the assistance of Ronacher
McKenzie Geosciences Inc. (RMG), which provides LAURION with a wide breadth of
geological expertise and innovative techniques. LAURION’s 2022 drilling and mapping
programs have demonstrated that the stacked vein system remains open at depth
and to southwest, suggesting that the mineral exploration potential of the Ishkoday
Au-Zn-Cu-Ag deposit could increase considerably in the future.
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 255,969,855 outstanding shares of which approximately 80% 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.
Since 2003, Laurion has: completed multiple exploration surveys on the property,
including prospecting, mapping, geochemical (grab, channel and so il 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 res earch
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
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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 i ntentions, the Corporation’s
ability to advance the Ishkoday Project, any potential acquisitions, mergers, financings or other
transactions referenced herein and any potential future arrangements and engagements with
DRA, its affiliates and/or other third parties . 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 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 additio nal 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 EXCHANGE) ACCEPTS RESPO NSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.