LAURION intersects 19.94 g/t gold over 2.50 m, including 98.5 g/t gold over 0.50 m, in drilling at CRK Zone, Ishkoday Project

- December 15th, 2020

Mineralized zone has now been extended to 550 m along strike and 420 m across strike, with 2 km strike length between A-Zone to CRK Zone Mineralized NE- and N-trending zones at CRK can be traced from surface to a maximum depth of 240 m with mineralization appearing to plunge moderately SW and remaining open at depth The majority of the CRK Zone remains open below 190 m depth THIS NEWS RELEASE IS INTENDED FOR …

  • Mineralized zone has now been extended to 550 m along strike and 420 m across strike, with 2 km strike length between A-Zone to CRK Zone
  • Mineralized NE- and N-trending zones at CRK can be traced from surface to a maximum depth of 240 m with mineralization appearing to plunge moderately SW and remaining open at depth
  • The majority of the CRK Zone remains open below 190 m depth

/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) and (OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to report further assay results for four (4) drill holes of the ten (10) hole, 2,962 m Phase 2 drill campaign, completed on the CRK Zone, Ishkoday Project. Assay results for the first four (4) holes were previously reported in the December 1 2020 news release and are pending on the remaining two (2) holes. The Ishkoday Project is located approximately 220 km northeast of Thunder Bay, Ontario near the town of Beardmore in the Onaman-Tashota gold belt.

Drill holes LME20-026 to LME20-029 were drilled along the main NE-trending trenched CRK Zone at approximately 100 m spacing as shown in Figure 1 .

Drilling Highlights:

  • LME20-026
    • 2.50 m grading 19.94 g/t gold and 2.03 g/t silver, including 0.50 m grading 98.5 g/t gold and 8.3 g/t silver
    • 1.00 m grading 5.41 g/t gold
    • 7.60 m grading 0.46 g/t gold, 1.22 % zinc, including 1.00 m grading 2.87 g/t gold and 5.54 % zinc
  • LME20-028
    • 0.50 m grading 5.61 g/t gold, 10.5 g/t silver
  • LME20-029
    • 1.12 m grading 1.56 g/t gold, 3.98 % zinc

David Lewis , P.Geo., LAURION Exploration Manager, commented: “Significant widths and grade of surficial gold and zinc mineralization is present at the CRK Zone and these four drill holes represent systematic testing of the CRK Zone mineralization to depth. Not only have we been able to extend the main sheared mineralized trend 135 m to the southwest, but we have been able to trace it 310 m between holes at depth. Furthermore, we are seeing a change in mineralization at depth to the southwest, with wider intervals and higher grades, where it remains open.”

Significant assay data is presented in Table 1 and drill hole position and orientation data is presented in Table 2. A plan map of mineralization and drill sections are presented in Figure 1 .

Table 1: Significant assay results, LME20-026 to LME20-029

Hole ID

From (m)

To (m)

Length (m)

Gold (g/t)

Silver (g/t)

Copper (wt%)

Zinc (wt%)

LME20-026

13.50

14.50

1.00

5.41

2.35

0.01

0.01

79.50

82.00

2.50

1.08

2.98

0.08

2.86

85.00

102.50

17.50

0.10

3.26

0.11

0.37

132.40

140.00

7.60

0.46

2.73

0.09

1.23

197.00

197.50

0.50

0.46

0.90

0.00

0.03

232.00

234.27

2.27

0.04

1.06

0.01

1.56

247.00

249.50

2.50

19.94

2.03

0.00

0.01

Including

247.58

248.08

0.50

98.50

8.30

0.00

0.01

262.50

265.00

2.50

0.06

2.26

0.12

0.15

286.50

287.70

1.20

0.37

0.25

0.01

0.02

298.50

299.00

0.50

0.25

0.90

0.01

0.02

LME20-027

65.80

66.30

0.50

1.26

0.90

0.01

0.01

96.20

100.50

4.30

0.17

0.99

0.02

0.08

141.00

152.50

11.50

0.10

1.77

0.05

0.62

170.00

171.50

1.50

0.33

0.58

0.00

0.02

219.92

222.50

2.58

0.17

4.25

0.01

0.02

295.00

297.50

2.50

0.65

0.88

0.02

0.02

LME20-028

17.90

18.40

0.50

5.61

10.50

0.05

0.59

38.00

40.00

2.00

0.43

6.48

0.17

2.69

45.00

45.50

0.50

0.49

3.10

0.03

1.22

148.00

151.00

3.00

0.32

2.15

0.04

0.12

182.50

184.00

1.50

0.25

0.55

0.00

0.03

240.95

250.15

9.20

0.11

1.04

0.03

0.23

344.50

345.00

0.50

0.32

1.80

0.12

1.44

354.00

355.00

1.00

0.03

3.50

0.10

1.14

LME20-029

56.50

61.00

4.50

0.28

0.25

0.01

0.01

97.00

101.40

4.40

0.74

3.17

0.10

1.00

110.00

118.00

8.00

0.02

0.40

0.01

0.28

139.00

140.50

1.50

0.31

6.00

0.04

0.13

155.15

156.27

1.12

1.56

4.90

0.10

3.98

198.50

201.00

2.50

0.16

1.62

0.05

0.48

212.00

215.00

3.00

0.15

7.32

0.32

0.19

227.00

228.50

1.50

0.88

4.30

0.02

0.52

258.50

259.50

1.00

1.11

0.60

0.00

0.01

287.00

291.00

4.00

0.19

0.51

0.00

0.02

323.00

324.00

1.00

0.48

0.50

0.00

0.01

Note: Mineralization is subvertical and the true width of mineralization is estimated at >60% of the drill hole interval.

Table 2: Collar position, orientation and depth of diamond drill holes

Hole ID

Easting

Northing

Elevation (m)

Depth (m)

Azimuth (°)

Dip (°)

LME20-026

445662

5511940

331

311

290

-50

LME20-027

445645

5511849

327

323

290

-50

LME20-028

445806

5511981

326

419

290

-45

LME20-029

445849

5512090

328

374

290

-50

Coordinates are presented in UTM NAD83 Zone 16N.

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.

All core 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 198,718,522 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.

Cision View original content: http://www.newswire.ca/en/releases/archive/December2020/15/c8462.html

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