Laurion Surface Stockpile Work Update at the Ishkoday Project: Grab Samples Yield up to 7.25 g/t Gold

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Laurion Surface Stockpile Work Update at the Ishkoday Project: Grab

Samples Yield up to 7.25 g/t Gold

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 (March 11, 2019) - Laurion Mineral Exploration Inc. (TSX.V: LME) and

(OTCPINK: LMEFF) (“Laurion” or the “Corporation”) is pleased to announce assay results

from surface grab rock samples (“Samples”) collected during the 2018 SONIC drilling and

ancillary work program (the “Program”) on its surface stockpile (the “Stockpile”) from the

historic operation of the Sturgeon River Mine at the Corporation’s wholly owned Ishkoday

Project (“ Ishkoday”). Notwithstanding the foregoing, surface grab rock samples are

selected samples and are not necessarily representative of the mineralization hosted on

Ishkoday.

Laurion collected 7 Samples from the northern portions of the Stockpile, where larger rock

samples from the historic underground workings were found. Assay results are summarized

in the following table:

SAMPLE

NUMBERS

SAMPLE

WEIGHTS

GOLD

(G/T)

SILVER

(G/T)

COPPER

(PPM)

ZINC

(PPM)

E5924801 1.1 0.01 trace 92 41

E5924802 1.4 7.25 3.40 32 180

E5924803 2.2 0.04 0.50 240 442

E5924804 1.7 6.64 1.20 25 218

E5924805 1.0 0.10 6.70 780 5,350

E5924806 2.4 0.03 trace 47 86

E5924807 1.6 2.62 0.80 90 90

All 7 Samples are various breccias, whether volcanic, hydrothermal and/or shear, and

contain up to 50% quartz veins (shear-types with chlorite shear planes) and trace to 5%

disseminated to blebby pyrite. Samples yielding 7.25, 6.64 and 2.62 g/t Gold contain the

most quartz veins and pyrite.

Additional results from the metallurgical test work are expected to be available in the

coming weeks.

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Laurion’s Surface Stockpile Work

The Sturgeon River Mine produced 73,322 ounc es of gold, and 15,929 ounces of silver

between 1936 to1942, at the No. 3 Vein averaging 24 g/t gold. The gold was believed to

be essentially located in white quartz vein material and was reportedly hand sorted and

milled at an average grade of 15.71 g/t gold . Phoenix Gold (1984) reported a historical

grade of 2.95 g/t gold from a bulk sample, giving an indication of the potential gold

grade of the Stockpile.

The Program complements the 2010 assay and metallurgical testing as outlined in a

previous report titled “ Resource Estimate on the Sturgeon River Mine Waste Pile and

Tailings, Ishkoday Property”, by A. Armitage, P. Geo., and D. Studd, P. Geo., of GeoVector

Management Inc., June 2013 (the “ 2013 Technical Report ”), all to ascertain a greater

level of confidence in the gold grade as we ll as silver, zinc and copper content of the

Stockpile.

The 2013 Technical Report outlined Stockpile grades in an initial range of 0.06 g/t to 10.2

g/t gold for an average grade of 2.83 g/t gold from eight random small bulk samples. On

the basis of these initial encouraging results, Laurion commissioned a comprehensive

program to accurately determine the location and volume of the Stockpile, and to

sample the Stockpile using an excavator to dig pits for acquiring representative samples

for gold analysis. A total of 30 pits were excavated and 46 selective samples were

collected, with deeper pits (maximum 5.2 meters deep) providing 2 or 3 selective samples

at successively deeper levels. Sampling of the excavated material was carried out to

acquire samples that were representative of rock types and broken rock size. Samples

were collected in 20 litre pails for processi ng. Individual sample weights were between

20.8 and 30.7 kg, and the total sample weight tested was 1.22 tonnes. The <2mm fraction

had the highest gold grade material averaging 6.20 g/t gold, and all samples in this size

fraction had assays greater than 1.75 g/t gold. The coarsest > 63 mm fraction had highly

erratic values of nugget gold, and also contained the highest-grade sample of 32 g/t

gold (QSWR-10-018).

The 2013 Technical Report stated the resource estimate for the low grade stockpile is

144,070 tonnes grading 1.59 g/t gold for 7,383 contained ounces of gold in the Indicated

category. The resource estimate for the low grade tails is 137,501 tonnes grading 0.67 g/t

gold for 2,944 contained ounces of gold in the Indicated category. Total Indicated

mineral resources for both deposits totals 281,571 tonnes grading 1.14 g/t gold for 10,327

contained ounces of gold (see the Corporation’s news release dated April 23, 2013). The

previous specific gravity applied to the block model of the Stockpile was 2.20 t/m 3. This

was a standard engineering estimate for broken and compacted rock.

In 2018, a total of 20 SONIC drill holes we re completed on the Stockpile for 185.3m,

a v e r a g i n g 9 . 3 m i n a r a n g e o f 3 . 7 m t o 1 5 . 2 m . E a c h o f t h e S O N I C d r i l l h o l e s w a s

strategically positioned to sample the inner core of the Stockpile to a minimum of 1.5m

below the base of the Stockpile. Assays and metallurgical results from this work are still

pending. However, additional specific gravity work of the Stockpile indicates ranges of

2.20 to 2.40 t/m3, with a new volume range between 75,000m3 to 80,000m3 over an area

of 12,000m2 or in the range of 150,000 to 190,000 tonnes, with gold grades between 0.67

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to 1.59 g/t gold (as outlined above). At this time, the potential quantity is conceptual in

nature, that there has been insufficient exploration to define the quantity and that it is

uncertain if further exploration will result in the target being eventually delineated as a

mineral resource. Additional specific gravity, volume and tonnage refinements will be

completed using future exploration and laboratory work.

Quality Assurance and Quality Control (“QA-QC”)

The 2018 surface grab rock samples were collected by LAURION staff, bagged and

tagged, and sent to AGAT Laboratories of Mississauga (Ontario). AGAT is an ISO/IEC

17025 accredited analytical laboratory and is independent of Laurion. Here, samples

were weighed (1 to 2.4 kg), dried, crushed, split, pulverized and screened, then analyzed

using: (1) the two-acid digestion, ICP-OES finish for the Silver analysis; (2) the sodium

peroxide fusion with ICP-OES/ICP-MS finish for the 44 multi-element geochemistry analysis,

including Silver, Copper and Zinc; and (3) the fire-assay ICP-OES finish on a 50 gram sub-

sample for Gold analysis.

QA-QC protocols from the LAURION 2010 waste pile program were reported in the 2013

Technical Report and the Corporation news release dated September 5, 2018.

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 now

has 140,870,084 outstanding shares of which 59.4% 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 Gold Project, and it s gold-silver and gold-rich polymetallic

mineralization with a significant upside potential.

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

Follow us on Twitter: @LAURION_LME

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Caution Regarding Forward-Looking Information

This press release contains forward-looking stat ements, 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-look ing 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 mini ng 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. Invest ors should consult the Corporation’s ongoing

quarterly and annual filings, as well as 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 EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS

NEWS RELEASE.