LAURION Announces Performance Grants and Warrant and Stock Option Exercises

TORONTO, ONTARIO (December 14, 2020) – Laurion Mineral Exploration Inc. (TSX.V:LME and OTCPINK: LMEFF) (“LAURION” or the “Corporation”) announces that it has today granted an aggregate of 1,250,000 incentive stock options (“Options”) to a number of its officers and directors. The Options are exercisable for a period of five years at a price of $0.23 per share and will vest over a period of two years.

 

Specifically, the aforementioned Options were allocated in the following manner:

 

 

Furthermore, LAURION has granted to each of John Covello and Nick Ierfino additional Options to acquire 76,837 common shares of the Corporation, exercisable on or before December 14, 2025 at an exercise price of $0.23 per share, subject to vesting requirements. These additional Options are part of a discretionary performance bonus awarded to Mr. Covello and Mr. Ierfino in recognition of their significant contributions to the Corporation’s capital raising initiatives. The issuance of Options, as contemplated in this news release, is subject to the terms of the Corporation’s stock option plan and TSX Venture Exchange (“TSXV”) approval.

 

The Corporation also wishes to announce that since September 2020, it has received requests from certain of its security holders to exercise finder’s warrants and stock options for aggregate proceeds of approximately $91,650. The Corporation intends to use the proceeds from these security exercises for exploration activities and general working capital purposes.

 

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. The Corporation currently has 199,723,430 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 km2 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 the mineralization to be a direct extension of mineralization from the Ishkoday Property.

 

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