LAURION’s 2023 Drilling Campaign Successfully Defines the Sturgeon River Mineralized System Over A Strike Length of 1,600m And To Depth Of 600m

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Mining Update

Thunder Bay, Ontario, February 2, 2024: Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF), also known as LAURION, has exciting developments to share regarding their 2023 drilling campaign at the Ishkoday project, situated 220km Northeast of Thunder Bay, ON. Building upon their previous announcements on December 13, 2023, January 5, 2024, and January 12, 2024, the company has successfully confirmed the extensive strike length of the Sturgeon River mineralized system, covering over 1,600 meters.

The Sturgeon River mineralized system comprises seven distinct quartz veins and mineralized shear zones. The drilling intercepts range in true widths from 0.5 meters to 7.95 meters, with grades spanning from 0.1 g/t Au to 7.78 g/t Au. Notably, the drilling successfully intercepted the historically significant No 3 vein, which produced 73,438 ounces of Gold and 15,922 ounces of silver between 1936 and 1942, showcasing an average grade of 0.51 ounces per ton gold (17.0 g/t).

The drilling program yielded significant results, including the extension of the Sturgeon River Mine mineralization by 600 meters to the northeast, with grade intercepts reaching as high as 29.45 g/t Au over 3.5 meters. Additionally, there was confirmation of a 320-meter extension to the southeast, with grade intercepts as high as 3.088 g/t Au over 7.5 meters.

These mineralized intervals are associated with a quartz-bearing diorite, indicative of an orogenic gold deposit, and suggest hydrothermal alteration processes. The veins are thought to be related to a major shear zone trending NE from the Niish shear zone. Laurion’s exploration team is now focused on refining their 3D model of the vein system to enhance future exploration efforts.

Laurion Mineral Exploration Inc. recognizes the potential of AI in analyzing exploration data and is looking to leverage this technology to improve targeting and exploration efficiency moving forward.

Jean-Philippe Paiement, PGeo, MSc, a consultant to LAURION, has reviewed and approved the technical content of this release as a qualified person under National Instrument 43-101.

About LAURION Mineral Exploration Inc.: LAURION Mineral Exploration Inc. is a junior mineral exploration and development company, publicly listed on the TSXV (LME) and OTC (LMEFF). The company’s primary focus is the exploration and development of its flagship project, the Ishkoday Project, which covers 57.43 km2 and hosts gold-rich polymetallic mineralization.

For more information, visit LAURION’s website at http://www.LAURION.ca

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