LAURION announces results of additional channel sampling at CRK Zone, Ishkoday Project, Ontario

- November 3rd, 2020

LAURION Mineral Exploration Inc. and is pleased to report additional surficial channel sample assays located within the CRK Zone, Ishkoday Project. This area is a target of LAURION’s ongoing 2020 phase 2 drill program. Channel sampling was primarily done along trend from the main NE-trending CRK Zone, with lesser samples being collected along the N-trending Joe vein . Samples were collected in newly-uncovered and …

LAURION Mineral Exploration Inc. (TSXV: LME) and (OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to report additional surficial channel sample assays located within the CRK Zone, Ishkoday Project. This area is a target of LAURION’s ongoing 2020 phase 2 drill program.

Channel sampling ( Figure 1) was primarily done along trend from the main NE-trending CRK Zone, with lesser samples being collected along the N-trending Joe vein (see October 13, 2020 news release). Samples were collected in newly-uncovered and previously-trenched areas and the grade and distribution show significant surficial mineralized potential (Table 1, 2).

The main CRK trenched area hosts both polymetallic (gold-silver-copper-zinc) mineralization and gold-bearing quartz veins, as well as north-trending polymetallic mineralization. In areas where these mineralized orientations converge, the grade and width of mineralization increase (see September 29, 2020 news release).

Table 1: Significant individual and interval channel sample results in the CRK area.

Channel ID

Length (m)

Gold (g/t)

Silver (g/t)

Copper (wt%)

Zinc (wt%)

C20-03

1.20

0.08

9.50

0.18

3.16

C20-06

0.75

0.05

10.20

0.18

1.62

C20-09

0.54

0.07

6.50

0.17

1.25

C20-11

1.50

0.20

19.90

0.32

6.83

C20-12

1.00

0.07

8.50

0.02

2.36

C20-13a

1.67

0.05

11.40

0.14

3.95

C20-13b

1.17

0.18

13.90

0.11

1.30

C20-16

0.70

0.37

4.50

0.05

7.03

C20-18

0.90

1.14

11.60

0.10

10.50

C20-19

0.80

0.79

8.50

0.09

7.99

C20-20

1.10

0.21

22.40

0.18

2.29

C20-21

0.70

0.28

10.20

0.22

1.46

C20-26

0.40

0.03

2.00

0.02

3.99

C20-28

0.60

0.14

2.30

0.10

2.97

C20-30

1.75

3.29

4.83

0.13

2.91

C20-33

0.65

2.10

4.70

0.07

4.51

C20-34

0.80

0.29

6.80

0.36

9.02

C20-35

0.48

0.39

1.60

0.02

4.31

C20-37

3.00

0.97

11.49

0.35

0.95

Table 2: Location and orientation of individual channel samples from the CRK area.

Sample ID

Channel
ID

Length
(m)

Azimuth
(°)

From

To

Easting

Northing

Easting

Northing

B617071

C20-03

1.20

112

445313.3

5512154

445314.5

5512154

B617074

C20-06

0.75

100

445314.9

5512157

445315.7

5512157

B617078

C20-09

0.54

98

445350.7

5512174

445351.2

5512174

B617081

C20-11

1.50

80

445352.9

5512176

445354.4

5512177

B617082

C20-12

1.00

17

445352.4

5512177

445352.7

5512178

B617085

C20-13a

1.67

117

445351.6

5512179

445353.1

5512178

B617086

C20-13b

1.17

83

445353

5512179

445354.2

5512179

B617091

C20-16

0.70

324

445538.9

5512054

445538.5

5512054

B617098

C20-18

0.90

305

445537.9

5512053

445537.1

5512053

B617099

C20-19

0.80

142

445536.7

5512051

445537.2

5512051

B617101

C20-20

1.10

105

445311.1

5512028

445312.1

5512027

B617102

C20-21

0.70

112

445311.4

5512020

445312.1

5512020

B617113

C20-26

0.40

117

445340.7

5511908

445341.1

5511908

B617119

C20-28

0.60

103

445331.6

5511883

445332.2

5511883

B617124

C20-30

0.90

131

445561.3

5511895

445562

5511894

B617126

C20-30

0.85

127

445562

5511894

445562.7

5511893

B617132

C20-33

0.65

304

445554.2

5511892

445553.6

5511892

B617136

C20-34

0.80

316

445537.5

5511899

445536.9

5511899

B617140

C20-35

0.48

306

445530.6

5511903

445530.2

5511903

B617144

C20-37a

0.70

142

445530.2

5511945

445529.8

5511945

B617145

C20-37a

0.60

142

445529.8

5511945

445529.4

5511946

B617146

C20-37a

0.80

142

445529.4

5511946

445528.9

5511946

B617147

C20-38b

0.50

122

445526.4

5511947

445526.8

5511946

B617148

C20-38b

0.40

122

445526.8

5511946

445527.2

5511946

Coordinates are presented in UTM NAD83 Zone 16N.

Diamond Drill Program update
2020 Phase 2 drilling is now complete at the CRK Zone (see September 29, 2020 news release) for a combined total of 2,962 m drilled in ten holes. Assay results are pending.

Qualified Person

Mr. David Lewis , P. Geo. (PGO), LAURION ‘s Exploration Manager, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this news release.

Channel samples are individually cut, perpendicular to mineralization, using a double-bladed saw to specific lengths. Samples are cut to approximately 5 cm width and 10 cm depth, with individual samples weighing approximately 1.5 to 4 kg. Channel samples are inserted into individual plastic bags, labelled and containing unique sample tags, and sealed. Aluminum tags with the sample tag information are inserted at the beginning of each channel sample cut. Collected field data includes sample number, channel azimuth, sample length, rock type and GPS UTM coordinates. Samples are catalogued and industry-standard Quality Assurance/Quality Control (QA/QC) samples are added, including standards, duplicates and blanks, in a pre-established order. Samples are then sealed in nylon bags and shipped by LAURION personnel to the ALS facility in Thunder Bay, Ontario .

All core and channel samples have been assayed by ALS Laboratories in Thunder Bay, Ontario . Samples are processed by 4-acid digestion and analyzed by fire assay on 50 g pulps and ICP-AES (Inductively-Coupled-Plasma – Atomic-Element-Spectroscopy). Over limit analyses are reprocessed with gravimetric finish.

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. The Corporation currently has 197,139,978 outstanding shares, of which approximately 71% of LAURION’s issued and outstanding shares 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 recently acquired Brenbar Property, which is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine and LAURION believes that the mineralization to be a direct extension of mineralization from the Ishkoday Property.

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, 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 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 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.

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