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LAURION ANNOUNCES ADDITIONAL NON-BROKERED PRIVATE PLACEMENT OF FLOW-THROUGH UNITS

Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") today announced that it is proposing to complete a new flow-through private placement on a non-brokered basis (the " Private Placement ") as a result of strong investor demand for the Corporation's previous private placement, which closed on December 8, 2021 on substantially similar terms for aggregate gross proceeds of approximately $2 million . Pursuant to the Private Placement, the Corporation intends to raise up to approximately $575,000 in aggregate gross proceeds by issuing up to approximately 766,668 flow-through units (the " FT Units ") at a price of $0.75 per FT Unit.

Each FT Unit will consist of one common share of the Corporation to be issued as a "flow-through share" (as defined in subsection 66(15) of the Income Tax Act ( Canada ) (the " Tax Act ")) (each, a " FT Share ") and one-half of one common share purchase warrant (each whole common share purchase warrant, a " Warrant "). Each whole Warrant will entitle the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.82 per share for a period of 12 months from the date of issuance.

As at the date hereof, the Corporation has accepted subscription agreements for the Private Placement in aggregate gross proceeds of approximately $225,000 .

The gross proceeds allocable to the FT Shares comprising the FT Units will be used for "Canadian exploration expenses" (within the meaning of the Tax Act), which will qualify, once renounced, as "flow-through mining expenditures", as defined in the Tax Act, which will be renounced with an effective date of no later than December 31, 2021 (provided the subscriber deals at arm's length with the Corporation at all relevant times) to the initial purchasers of FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units which are allocable to the FT Shares.

In connection with the Private Placement, the Corporation may pay finders' fees in the form of cash commissions and finder's warrants having the same attributes as the Warrants.

The closing of the Private Placement is subject to the approval of the TSX Venture Exchange (the "TSXV"). All securities that are issued pursuant to the Private Placement will be subject to, among other things, a hold period of four months and one day in accordance with applicable Canadian securities laws.

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 246,320,183 outstanding shares of which approximately 81% 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. The mineralization on Ishkoday 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, in the past producing Sturgeon River Mine. The Brenbar Property, which was acquired in 2020 and is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine. LAURION believes the mineralization to be a direct extension of mineralization from the Ishkoday Property.

Website: https://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 completion of the Private Placement, the use of proceeds therefrom and the finder's fees that may be paid by the Corporation in connection with the Private Placement. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein including as a result of a change in the trading price of the common shares of the Corporation, the TSXV not providing its approval for the Private Placement. Investors 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.

SOURCE Laurion Mineral Exploration Inc.

Cision View original content: https://www.newswire.ca/en/releases/archive/December2021/24/c0166.html

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Laurion Mineral Exploration

Laurion Mineral Exploration

Overview

Laurion Mineral Exploration (TSXV:LME, OTCPINK: LMEFF) is an exploration and development company solely focused on the Ishkoday gold project located in Ontario. The company’s flagship ‘brownfield’ Ishkoday gold-polymetallic project is located 220 kilometers northeast of Thunder Bay, Ontario. The 47-square kilometer Ishkoday project is wholly-owned by Laurion Mineral Exploration, which acquired the property in 2007.

Laurion Mineral Exploration’ Ishkoday project is the home of two past-producing shafts, Sturgeon River and Brenbar, which returned grades of 17.0 g/t gold and 20.0 g/t gold respectively. The Quebec Sturgeon River gold mine has produced 73,322 ounces of gold and 15,929 ounces of silver to date. Acquired in December of 2019, the Brenbar project encompasses 2.55 square kilometers of land contiguous with the Ishkoday project. The property hosts the past-producing Brenbar mine which generated 135 tonnes between 1941 and 1949.

The Ishkoday property also contains a considerable stockpile of surface material. According to a 2013 NI 43-101 Technical Report, the stockpile is estimated to contain a total of 281,571 tonnes grading at 1.14 g/t gold for a total of 10,327 contained ounces of gold. Moving forward, Laurion Mineral Exploration intends to monetize the stockpile as it continues to explore the property.

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Developing Ontario's Ishkoday Gold Project

LAURION Extends the A-Zone to 700m Towards the Southwest and Intercepted 1.21 g/t Au and 6.40% Zn over 8.70 m

LAURION Extends the A-Zone to 700m Towards the Southwest and Intercepted 1.21 g/t Au and 6.40% Zn over 8.70 m

Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce assay results from the first three (3) diamond drill holes designed to expand the gold-and-zinc-rich mineralization at the A-Zone; located within a 2km segment of the 6 km long Ishkoday mineralized trend. The A-Zone trend is located on the southeastern portion of the Ishkoday project which LAURION is targeting with a 15,000 m drill campaign, which commenced on January 14, 2022 . The Ishkoday project comprises an area of 47 km 2 with initial exploration focus in areas accessed via the road 801, approximately 20 km northeast of Beardmore, Ontario .

News Provided by Canada Newswire via QuoteMedia

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LAURION To Commence 15,000-Metre Diamond Drilling Program at Ishkoday Project, Ontario

LAURION To Commence 15,000-Metre Diamond Drilling Program at Ishkoday Project, Ontario

Laurion Mineral Exploration Inc. (TSXV: LME) (OTC-PINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce that it will commence drilling on January 14, 2022 at its Ishkoday project, located 220 km northeast of Thunder Bay, Ontario near the town of Beardmore .

Highlights:

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LAURION ANNOUNCES CLOSING OF ADDITIONAL PRIVATE PLACEMENT OF FLOW-THROUGH UNITS

LAURION ANNOUNCES CLOSING OF ADDITIONAL PRIVATE PLACEMENT OF FLOW-THROUGH UNITS

/ 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 . /

Laurion Mineral Exploration Inc. (TSX.V: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce that it has closed its previously-announced non-brokered private placement (the " Private Placement ") consisting of flow-through units (the " FT Units "). Pursuant to the fully-subscribed Private Placement, the Corporation issued 766,666 FT Units at a subscription price of $0.75 per FT Unit, for aggregate gross proceeds to the Corporation of approximately $575,000 .

News Provided by Canada Newswire via QuoteMedia

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LAURION Announces Closing of Private Placement of Flow-Through Units

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News Provided by Canada Newswire via QuoteMedia

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LAURION Announces Proposed Non-Brokered Private Placement of Flow-Through Units

LAURION Announces Proposed Non-Brokered Private Placement of Flow-Through Units

Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") today announced that it is proposing to complete a flow-through private placement on a non-brokered basis (the " Private Placement "). The Corporation intends to raise up to approximately $2.0 million in aggregate gross proceeds by issuing up to approximately 2,666,667 flow-through units (the " FT Units "). Pursuant to the Private Placement, the FT Units will be issued at a price of $0.75 per FT Unit.

News Provided by Canada Newswire via QuoteMedia

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