LAURION Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) is pleased to announce assay results for three new diamond drill holes testing the continuity of the newly opened area that extends the A-Zone by 700 m towards the Southwest. This area is located within a 2km segment of the 6 km long Ishkoday mineralized trend, which is located in the southeastern portion of the Ishkoday Au-Zn-Cu-Ag project. These 3 holes are part of a 15,000 m drilling campaign design to confirm the presence of continuous mineralization from the A-Zone to the CRK Zone, over a strike of 3 km. The Ishkoday project comprises an area of 47 km² with initial exploration focus in areas accessed via the road 801, approximately 20 km northeast of Beardmore, Ontario.

The current assay results confirmed the continuity of the A-Zone to the southwest by 160 m since the last release and intercepted the stacked gold- and zinc-rich epithermal and orogenic gold veins (See Figure 1) returning:

• LBX22-059 from 141 m to 148 m: 7.00 m (5.60 m true width (“TW”)) @ 0.14 g/t Au and 0.63% Zn; including 1.00 m (0.80 m TW) @ 0.38 g/t Au and 1.60% Zn and 1.00 m (0.80 m TW) @ 0.38 g/t Au and 1.84% Zn
• LBX22-060 from 201.5 m to 209.9 m: 8.40 m (6.72 m TW) @ 0.62 g/t Au, 3.05% Zn and 0.15% Cu; including 1.00m (0.80m TW) @ 0.61g/t Au, 4.27% Zn and 0.19% Cu and; 2.30 m (1.84 m TW) @ 1.15 g/t Au, 4.20% Zn and 0.23% Cu.
• LBX22-060 from 251m to 255 m: 4.00 m (3.20 m TW) @ 0.37 g/t Au, 2.90% Zn and 0.28% Cu; including 1.00m (0.80m TW) @ 1.21g/t Au, 10.70% Zn and 0.93% Cu
• LBX22-061 from 327.5m to 329.1 m: 1.60 m (1.28 m TW) @ 1.31 g/t Au, 1.66% Zn and 0.36% Cu; including 0.50m (0.40m TW) @ 3.04g/t Au, 3.71% Zn and 0.75% Cu
• LBX22-061 from 420 m to 422.6 m: 2.60 m (2.08 m TW) @ 1.11 g/t Au and 0.21% Zn; including 0.60m (0.48m TW) @ 3.49g/t Au and 0.01% Zn

Current Drilling and Objectives

• A total of 9,463 m in twenty-six diamond drill holes have been drilled to date with assays pending for one drill hole in the A-Zone, eight drill holes in the McLeod Zone and five drill holes between the A-Zone and McLeod Zone that all intercepted the stacked veins.
• The drill is currently back in the A-Zone area to further investigate the newly opened area and its connection with to the CRK area with five drill holes drilled (assay pending) and another drill hole planned.
• Further drilling is also planned to test:
  • The southwestern extension of the McLeod Zone associated with a large magnetic high anomaly; that coincides with the stacked veins
  • The western connection between the A-Zone and the McLeod Zone and
  • The mineralized gold Joe vein in McLeod Zone; identified through surface sampling.

A-Zone Assay Results Highlights

See Figure 1 and Figure 2

Sampling Analysis and Laboratory

Samples from the 2022 drilling were cut and sent for analysis. Preparation and analysis were completed at the Actlabs (ISO 9001:2015) laboratory in Thunder Bay. Actlabs is an internationally recognized laboratory that provides geochemical sample preparation, analytical procedures, and data management solutions.

LAURION uses a quality assurance/quality control program that monitors the chain of custody of samples and includes the insertion of blanks (5% of the announced results), duplicates (3% of the announced results), and standard reference material (5% of the announced results) in each batch of samples sent for analysis. Drill core is photographed, logged, and cut in half with one half retained in a secured location for verification purposes and one half shipped for analysis.

The entire sample is crushed to 80% passing 2 mm and a riffle split of 250 grams is taken and pulverized to 95% passing 105 µm (RX1). Samples are analyzed by four-acid digestion/ICP-MS package for 36 elements (1F2). Additionally, samples are analyzed for Au using a firing assay from a 50-gram pulp (1A2B-50). Overlimit samples values for zinc (>1%) and Pb (>0.5%) are re-assayed using a four-acid digestion overlimit method with ICP-AES 9 (8-4 Acid over limit).

No QA/QC issues were noted with the results reported herein.

Qualified Person

The technical contents of this release were reviewed and approved by Jean-Philippe Paiement, PGeo, MSc, a consultant to LAURION, and a qualified person as defined by National Instrument 43-101.

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 249,447,945 outstanding shares, of which approximately 81% 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 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.