LAURION Intersects 6.72m True Width* at 0.62 g/t Au and 3.05% Zn as part of a 65m thick mineralized zone in the Newly Opened Area SW Extension of the A-Zone at Ishkoday Au-Zn-Cu-Ag Project

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TORONTO, May 25, 2022 /CNW/ - LAURION Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce assay results for three (3) 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:

A-Zone Assay Results Highlights

Hole ID

From

To

Core Length

True Width*

Au

Zn

Cu

Ag


(m)

(m)

(m)

(m)

(g/t)

(%)

(%)

(g/t)

LBX22-059

141.00

148.00

7.00

5.60

0.14

0.63

0.05

14.89

including

141

142

1.00


0.38

1.60

0.15

61.10

including

147

148

1.00


0.38

1.84

0.08

26.40

LBX22-060

83.00

88.15

5.15

4.12

0.31

0.35

0.01

1.27

including

85.7

86.2

0.50


1.14

0.87

0.03

2.80

including

87.6

88.15

0.55


0.34

1.64

0.02

3.80

LBX22-060

96.50

98.30

1.80

1.44

0.46

1.53

0.10

6.98

including

97.5

98.3

0.80


0.91

3.32

0.22

14.70

LBX22-060

157.10

161.20

4.10

3.28

0.09

4.86

0.14

11.55

including

159.1

161.2

2.10


0.14

9.33

0.25

21.30

LBX22-060

188.50

190.60

2.10

1.68

0.21

3.36

0.12

6.00

including

189.5

190.1

0.60


0.17

11.20

0.22

11.00

LBX22-060

201.50

209.90

8.40

6.72

0.62

3.05

0.15

8.07

including

202.5

203.5

1.00


0.61

4.27

0.19

9.70

including

204.7

207

2.30


1.15

4.20

0.23

13.67

including

209

209.9

0.90


0.17

5.91

0.05

4.50

LBX22-060

221.60

223.90

2.30

1.84

0.38

2.96

0.19

6.59

including

223.32

223.9

0.58


0.99

7.40

0.39

11.40

LBX22-060

237.70

239.00

1.30

1.04

0.17

1.14

0.01

0.75

LBX22-060

251.00

255.00

4.00

3.20

0.37

2.90

0.28

15.37

including

252.4

253.4

1.00


1.21

10.70

0.93

26.70

LBX22-061

27.30

29.00

1.70

1.36

0.43

2.19

0.06

3.68

LBX22-061

45.50

49.20

3.70

2.96

0.22

0.94

0.04

1.46

including

48

49.2

1.20


0.36

2.80

0.09

3.20

LBX22-061

59.10

62.50

3.40

2.72

0.15

0.33

0.04

2.26

LBX22-061

130.00

132.70

2.70

2.16

0.49

0.90

0.06

3.67

including

132.03

132.7

0.67


0.68

3.20

0.08

5.00

LBX22-061

181.70

185.50

3.80

3.04

0.09

0.77

0.06

1.48

including

181.7

182.2

0.50


0.34

3.25

0.16

4.30

LBX22-061

245.30

252.50

7.20

5.76

0.17

1.00

0.05

2.55

including

245.3

245.8

0.50


0.13

2.64

0.10

5.10

including

250.9

252.5

1.60


0.50

3.00

0.12

5.38

LBX22-061

327.50

329.10

1.60

1.28

1.31

1.66

0.36

9.47

including

328.6

329.1

0.50


3.04

3.71

0.75

21.50

LBX22-061

337.50

340.50

3.00

2.40

0.26

0.86

0.21

5.50

LBX22-061

409.50

412.50

3.00

2.40

0.26

0.32

0.01

0.65

LBX22-061

420.00

422.60

2.60

2.08

1.11

0.21

0.00

1.55

including

422

422.6

0.60


3.49

0.01

0.00

4.70

* True widths are calculated based on an average dip of 70° towards N330° for the mineralized zones

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 (QA/QC) 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.

Follow us on Twitter: @LAURION_LME

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, 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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