LAURION Completes Its Annual Filings

TORONTO, ONTARIO (May 6, 2020) – Laurion Mineral Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) (“LAURION” or the “Corporation”) announces that the Corporation has filed its annual audited financial statements for the year ended December 31, 2019 and its related management’s discussion and analysis (collectively, the “Annual Filing Documents”).

 

LAURION is normally required under subsections 4.2(b) and 5.1(2) of National Instrument 51-102 – Continuous Disclosure Obligations to file its Annual Filing Documents by the 120th day after the Corporation’s most recently completed financial year. However, as previously disclosed in the Corporation’s news release dated April 28, 2020, due to the initial logistical restrictions and operational challenges resulting from the outbreak of the COVID-19 pandemic, the Corporation elected to rely on the temporary blanket relief published by Canadian securities regulators to file its Annual Filing Documents. These restrictions and challenges have since been addressed and administrative activities have normalized.

 

As required by Ontario Instrument 51-502 – Temporary Exemption from Certain Corporate Finance Requirements (“Ontario Instrument 51-502”), LAURION confirms that there have been no material business developments since April 28, 2020 (being the date of the Corporation’s last news release required by Ontario Instrument 51-502).

 

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 181,125,977 outstanding shares of which approximately 59% 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 km2 Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. Ishkoday has a project-wide

database (2008 to 2019) that includes 307 diamond drill holes totaling 48,879 m, geological mapping, ground and airborne geophysics, and 21,800 individual samples with assays and geochemical analysis. 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.