LME.V · 2018-07-10 12:00:00

Laurion Reports on Second Field Exploration Update for 2018 on the Ishkoday Gold Project: More Minera lization Evidence Detailing the Gold and Polymetallic Vein System

Exploration Programs

Laurion Reports on Second Field Exploration Update for 2018 on the

Ishkoday Gold Project: More Minera lization Evidence Detailing the Gold

and Polymetallic Vein System

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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 (July 10, 2018) - Laurion Mineral Exploration Inc. (TSX.V: LME) and

(OTCPINK: LMEFF) (“Laurion” or the “Corporation”) is pleased to issue the second update

from the 2018 summer field exploratio n program at the Corporation’s 47 km2 Ishkoday

Project (“Ishkoday”). Laurion’s personnel and Explo-Logik’s technical crews (collectively,

the “Team”) have completed their initial field validation of historical and recent data.

The Team completed geological mapping and the prospecting of historic mineralized

“veins” and their extensions, as well as new areas in the lesser explored northern claims.

This work is part of the three-phased ex ploration program proposed for the next 36

months, aimed at defining a near surface polymetallic gold mineral resources. Initial

reconnaissance highlights of the campaign were issued earlier ( refer to the

Corporation’s news release dated May 29 and June 19, 2018, respectively).

Current Highlights from the Quartz Veins

A number of new mineralized quartz vein occurrences have been outlined in the

northern claims. They were manually stripped and sampled. Outcrop stripping, mapping

and sampling was also done in the southern cl aims on a portion of the “85-A2” quartz

vein system (the “85-A2”) located 750m Northeast of the past producing Nos. 3, 10 and

“M” gold-quartz veins of the Sturgeon River Mine.

More historic assay results were compiled and are reported here from outcrop stripping,

channel sampling and assaying of quartz veins done by Phoenix Gold Mines Ltd., in the

1980’s (“1986 Exploration Program Report, Sturgeon River Gold Mines Property, 34 pages

with compilation maps, by L.O. Koskitalo, February 1988”). These historic channel sample

results are shown in Table 1 below ( Figures 1 and 2 ) and continue attesting to their

individual prospectivity:

Table 1. Historic quartz vein channel assay results (Phoenix Gold, 1988).

QUARTZ LENGTH WIDTH GOLD VISIBLE # OF SILVER ZINC

VEINS (M) (CM) (G/T) GOLD SAMPLES (G/T) %

A9 35.5 7.2 31.57 VG 14

A11 32.3 6.6 16.35 VG 4

21.0 9.0 105.99 VG 6

85‐A2 29.0 19.2 12.89 VG 9

53.2 22.5 14.71 29

85‐A2B 55.8 13.8 21.90 30

A2 11.3 39.0 9.60 3

85‐A17 2.6 37.5 5.28 3

85‐A5 47.7 29.1 3.81 33

25.5 46.5 9.98 23

85‐A6 56.5 37.2 12.86 29

85‐A11A 9.7 24.6 11.45 5

85‐A12 8.1 20.1 5.07 3

J1NW 15.5 36.9 20.16 4

J1 19.4 12.9 5.55 4

9.7 23.4 7.88 2

J2 14.8 20.4 5.07 5

A6 43.2 73.5 8.33 28

A5 50.0 24.6 3.63 13

8.1 40.2 129.92 VG 2

A4 19.7 94.5 6.17 6 0.69 3.72

Marge 314.0 36.0 17.62 VG 171

F 21.0 25.0 30.72

Combined 8‐

40.0 29.0 0.89 15

10.0 12.0 2.50 2

85‐A2 21.0 19.0 20.26 12

A‐2

6.5 98.0 24.44 6

11.0 39.0 9.60 3

13.0 18.0 23.41 4

Italicized quartz veins classification, numbers were previously issued June 19, 2018

As in the previously outlined historic quartz vein results from the Marge, “F”, Combined

8/11, 85-A2 and A-2 veins, there are a number of other significant gold results, including:

 35.5m length over a 7.2cm width grading 31.57 g/t gold carrying visible gold (A9

Quartz Vein);

 21.0m length over a 9.0cm width grading 105.99 g/t gold, also carrying visible gold

(A11 Quartz Vein);

 53.2m length over a 22.5cm width grading 14.71 g/t gold (85-A2 Quartz Vein);

 55.8m length over 13.8cm width grading 21.90 g/t gold (85-A2B Quartz Vein);

 56.5m length over 37.2cm width grading 12.86 g/t gold (85-A6 Quartz Vein); and

 43.2m length over 73.5cm width grading 8.33 g/t gold (A6 Quartz Vein).

At the 85-A2 gold-quartz vein and its subsidiaries, 85-A2B, 85-A5, 85-A6, 85-A11A, 85-A12

and 85-A17 (collectively, the “85-A2”), located in the 3km 2 Ishkoday Target Area, the

veins combine into continuous pinch an d swell patterns of interconnected and

anastomosing shear and tensio n veins, similar to other gold deposits in Archean

Greenstone Belts.

For example, the lode gold settings of the Sigma-Lamaque, Dome and Canadian-

Malartic gold deposits of the Abitibi Greenstone Belt (“lode gold setting”) are linked to

continuous and anastomosing structures with both shear and tension gold-quartz veins;

they have 2 to 6km2 surface signatures; and either contain a disseminated gold or gold-

quartz stockworks component or both.

It is unknown at this time if these lode go ld settings are similar to the setting at the

Ishkoday Target Area. If what is observed at the 85-A2 is eventually confirmed at other

quartz veins and as the small-scale equival ent of a larger pattern, then Laurion would

have a major network of un-developed gold-quartz veins.

Further field validation is required to test these anastomosing mineralized NE-SW system

and determine if most or a selective portion, and their orientation, of the hundreds of

quartz veins identified by previous workers, and now by Laurion, carry gold, and if the

gold mineralization is restrict ed to certain areas, whether hi gh level intrusives, such as

the porphyry of the Sturgeon River Mine, and/ or polymetallic veins and/or structurally

more deformed corridors, such as in quartz -sericite schists as identified in several

outcrops of the Target Area.

Current Highlights from the Polymetallic Veins

Laurion also continued its field validation of the polymetallic veins of the CRK, Joe and

Tehya showings. The polymetallic veins appear to be localized in specific corridors and

are commonly associated with felsic and mafi c dykes, sericite-chlorite altered shears,

magnetite bands and brecciation, with or without quartz veining, but with gold.

Table 2 below outlines assay results from the “CRK” Showing ( Figure 2), located 1.25km

northeast of the past producing Sturgeon River Mine, as previously reported by Laurion

in 2015 (“Report on Grab Sampling, Channel sa mpling and Diamond drilling Programs,

Ishkoday Property, prepared by N. Westoll, P. Geo., Laurion Mineral Exploration, dated

June 10, 2015”):

Table 2. Previous channel assay results from the CRK Showing (Laurion, 2015).

POLYMETALLIC LENGTH GOLD SILVER ZINC COPPER

VEINS (M) G/T G/T % %

C (CYNTHIA)

1M LINE 3.0 3.14 23.20 2.62 0.20

7M LINE 1.0 15.00 35.40 1.07 0.41

R (RICK)

3M LINE 2.0 1.22 1.50 2.28 0.02

7M LINE 8.0 1.08 4.90 1.11 0.08

INCL. 5.0 1.68 7.00 1.27 0.10

11M LINE 5.0 1.59 2.20 2.04 0.04

K (KYLE)

3.5M LINE 3.0 0.72 2.70 1.94 0.04

8M LINE 4.0 0.99 2.50 2.15 0.06

14M LINE 3.0 0.29 7.80 6.88 0.08

Next Exploration Campaign

The planned work to be initiated later in Q3-2018 will include additional manual outcrop

stripping, channel sampling and assayi ng along 7 strategic NW-SE 400m to 500m

outcrop stripping lines (the “Lines”), up from the original 4 lines, as a first pass assessment

of the NE-SW trending quartz and gold-polym etallic (copper-zinc) veins in the Target

Area.

Distribution patterns, from the more loca l polymetallic veins and more regional

centimetric-to metric-wide kilometric-long lode gold-quartz veins, follow axes from a NE-

SW Strain Ellipse in a Simple Shear Deformation Model. The quartz veins appear to have

been emplaced during regional deformation of the greenstone belt encompassing

Ishkoday.

Concurrently with the outcrop stripping program, Laurion will re-log the existing drill core

from its 2010 to 2014 drilling campaigns to increase understanding of the geology and

mineralization, all to determine the extent an d origin of, and size potential of the gold-

silver-zinc-copper system.

Quality Assurance and Quality Control

A total of 367 field samples were taken to date from Ishkoday: 105 channel samples from

the Jack quartz-sericite-chlorite-sulphide schists and the 85-A2, and 262 selective grab

samples from the quartz veins of the norther n claims and both quartz and polymetallic

veins from the southern claim blocks. Individual samples were taken by prospectors and

inserted in individual plastic bags, each with ALS sample tags. Samples were checked,

catalogued and bags sealed by the Senior Project Geologist; then placed in large

numbered nylon bags with standards, blanks and duplicates.

The bags were then sealed and transported by Explo-Logik employees to the ALS

facilities in Val-d’Or for gold and multi-element analysis.

Link to Figures 1 and 2, see URL http://www.laurion.org/2018 accessed on the

Corporation’s website at http://www.laurion.ca or Laurion.org

About Laurion Mineral Exploration Inc.

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 has

123,099,082 outstanding shares of which 58. 2% are owned and controlled by Insiders

and within the ‘friends and family’ category.

The Corporation’s emphasis is on the development of its flagship project, the 100%

owned mid-stage Ishkoday Project, and it s gold-silver and gold-rich polymetallic

mineralization with a significant upside potential.

The Corporation has a property-wide database of 283 diamond drill holes totaling 40,729

m, detailed sampling, mapping, assays and geochemical analysis, and ground

geophysics. The mineralization is open at depth beyond the current core drilling limit of

-200 m from surface, based on the historical mining to a -685 m depth, as evidenced in

the past producing Sturgeon River Mine (the “Mine”). The Mine produced 73,322

ounces of gold, and 15,929 ounces of silver from 1936 to1942 on the No. 3 Vein at 24 g/t

gold, and generated a large gold and silver bearing stockpile of 144,070 tonnes grading

1.59 g/t gold in the Indicated Miner al Resources category (based on a NI 43 -101

Technical Report filed on SEDAR in June 2013 – refer to the Corporation’s news release

dated April 23, 2013).

Mr. Jean Lafleur, P. Geo. (APGO, OGQ), La urion’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 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 details, anticipated timing and

completion of the transactions and other matters described in this press release, including without

limitation, the timing, completion and future results of the Corporation’s exploration program at Ishkoday.

The forward-looking statements involve risks and unce rtainties. 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 disput es 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 filing s, as well as any other addition al documentation comprising the

Corporation’s public disclosure reco rd, for additional information on ri sks 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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