LAURION Releases Assays Results up to 27.7g/t over 0.4m Gold, 11.50g/t Silver over 0.3m, and 3.8% Zinc over 0.8m from Individual Channel Samples at the Ishkoday Gold Project

2018-11-13 / @newswire

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

TORONTO, Nov. 13, 2018 /CNW/ - LAURION Mineral Exploration Inc. (TSX.V: LME) and (OTCPINK: LMEFF) ("LAURION " or the "Corporation") is pleased to reports assay results from systematic channel sampling of the August-September 2018 Program ("Stage 2 Campaign") on the Corporation's Ishkoday Gold Project ("Ishkoday").

Strip Line T18-1

A total of 468 individual channel samples were taken from Line T18-1, varying in individual length from 20cm to 2.2m. Bedrock outcrop coverage of T18-1 is approximately 60%. Individual channel sample assay results ("Assays") to date include:

120 anomalous gold Assays:

50 gold Assays between 0.03 g/t and 0.10 g/t gold;
53 between 0.10 g/t and 1 g/t gold; and
17 above 1 g/t in the range 1.02 g/t gold over 0.2m to 27.70 g/t gold over 0.4m, with the most significant interval of 17.1 g/t gold over 1.5m.

121 anomalous silver Assays:

70 silver Assays between 0.10 g/t and 1 g/t silver; and
51 above 1 g/t in the range 1.00 g/t silver over 0.3m to 11.50 g/t silver over 0.3m.

3 anomalous copper Assays:

3 copper Assays between 0.10% and 1% copper.

43 anomalous zinc Assays:

37 zinc Assays between 0.10% and 1% zinc;
6 above 1% zinc from 1.03% zinc over 0.6m to 3.80% zinc over 0.8m.

Line T18-1 extends 500m in a NW-SE direction at right angle to the orientation of geological units and is located approximately 1km NE of the past producing Sturgeon River Mine's No. 3 Quartz Vein (Figure 1).

The geology consists of felsic to intermediate volcanic and intrusive rocks, mostly rhyolite/dacite flows, tuffs and cut by mafic dykes. Sulphide mineralization (pyrite, chalcopyrite and sphalerite) occurs in NE-SW trending centimetric and metric shear zones, in addition to sulphide–rich metric-sized veins similar to those 700m NE in the "CRK" veins sector. LAURION's previous channel sampling work in 2014 from the "CRK" Showing, yielded typical assay results of 8m width of 1.08 g/t gold, 4.90 g/t silver, 1.11% zinc and 0.08% copper, including 5m width of 1.68 g/t gold, 7.00 g/t silver, 1.27% zinc and 0.10% copper.

The northernmost 140m of Line T18-1 depicts 8 NE-SW trending quartz veins belonging to either the "85-A2" or the "A" vein systems. Both vein systems were historically channel sampled and assayed by Phoenix Gold (1988) as reported in 1986 Exploration Program Report, Sturgeon River Gold Mines Property, 34 pages, by L.O. Koskitalo, February 1988. Selected historic gold assay intervals of the "85-A2" Quartz Vein system (Phoenix Gold, 1988) from Line T18-1 include:

13.41 g/t gold over a 168m length and 19 cm width, including 21.92 g/t gold over a 52m length and 14 cm width and 14.71 g/t gold over a 50m length and 23cm width; and
20.26 g/t gold (with visible gold or "VG") over a 20m length and 20cm width from the Glory Hole Quartz Vein.

The quartz veins undulate and form anastomosing patterns as observed in the "85-A2" vein system, similar to other structurally hosted lode gold deposits.

Selected historic gold assay intervals of the "A" Quartz Vein system (Phoenix Gold, 1988) from Line T18-1 include:

14.71 g/t gold over a 50m length and 23cm width ("A-2" Quartz Vein);
3.63 g/t gold over a 50m length and 25cm width ("A-5" Quartz Vein); and
6.17 g/t gold over a 20m length and 95cm width ("A-4" Quartz Vein).

A qualified person has not verified the Phoenix Gold (1988) data and results from the 85-A2 and "A" Quartz Vein systems; however, LAURION's 2018 Stage 1 campaign selectively grab sampled the 85-A2 Quartz Vein system yielding 40.80, 43.00 and 1,185.00 g/t gold (refer to LAURION 's previous news release dated August 14, 2018), attesting to the prospectivity of the quartz veins.

The Stage 1 stripped area located a few meters SW of the main "85-A2" Quartz Vein outcrop. Here, current channel sampling confirmed the gold-bearing potential of the 85-A2 Quartz Vein with a selected assay result of 18.50 g/t gold over a 20cm width. A LAURION (2012) selective grab sample yielded 2.86 g/t gold on an adjacent subsidiary quartz vein.

Strip Line T18-2

A total of 475 individual channel samples were taken from Line T18-2, varying in individual length from 30cm to 8.5m. Bedrock outcrop coverage of T18-2 is approximately 80%. Individual Assays to date include:

40 anomalous gold Assays

22 gold Assays between 0.03 and 0.10 g/t gold;
17 between 0.10 and 1 g/t gold; and
1 above 1 g/t at 1.29 g/t gold over 0.5m.

100 anomalous silver Assays:

55 silver Assays between 0.10 and 1 g/t silver; and
45 above 1 g/t in the range 1.10 g/t silver over 1.3m to 9.10 g/t silver over 0.7m.

1 anomalous copper Assays:

1 copper Assays between 0.1% and 1% copper.

21 anomalous zinc Assays:

19 zinc Assays between 0.1% and 1% zinc;
2 above 1% zinc, 1.58% zinc over 1.0m and 2.72% zinc over 4.0m.

Strip Line T18-2 is located approximately 350m W-SW of the part producing Sturgeon River Mine's No. 3 Quartz Vein. Line T18-2 extends 500m in a NW-SE direction at right angle to the orientation of geological units (Figure 1).

The geology consists of felsic to intermediate volcanic rocks (fine to coarse tuffs, rhyolite/dacite flows, and several generations of crosscutting mafic dykes). Sulphide mineralization (pyrite, chalcopyrite and sphalerite) is rare but increases in narrow NE-SW and N trending shear zones.

Two major vein sets were identified including the newly discovered 040° Bootleg Quartz Vein (the "Bootleg") that may be the SW extension of the "85-A2" Quartz Vein located more than 1km to the NE.

Additional results such host quartz veins and/or sulphide veins, composite intervals and location maps are being compiled for both T18-1 and 2 and will be made available shortly.

Please refer to URL http://www.LAURION .org/2018 for Location Map of the Stage 2 continuous strip lines T18-1 and T18-2 Location Map (Figure 1). Refer to LAURION 's previous news release dated September 25, 2018, as well as additional results from the initial May-June 2018 Stage 1 Campaign at the Corporation's 47 km² Ishkoday Gold Project.

Stage 2 Exploration Campaign Channel Sampling and Assay Results

The Campaign is centered on mechanized stripping, channel sampling and assaying along two strategic NW-SE 400m to 500m outcrop stripping lines (the "Lines") as a first pass assessment of the bulk polymetallic veins in the 3km by 1km Target Area. Two lines were completed, T18-1 and 2. Following MNDM permitting, a mechanized tree cutter or harvester cut and removed trees along both lines, followed by the mechanized removal of overburden using a shovel. Bedrock was cleaned using high pressure water, with water recovered in pits that was re-used for outcrop washing. Channels were cut using a gas-powered saw. The sampling, bagging and tagging of rock samples was done by field technicians. The strip lines were geologically mapped for rock types, structures and mineralization, by qualified geologists and technicians from the exploration service provider Explo-Logik Inc.

LAURION's 18-month exploration program, initiated in May 2018 has the strategic objective of outlining the bulk precious and base metals upside potential at Ishkoday. The Campaign follows a successful Stage 1 field validation work that not only validated precious and base metal results from a number of selective historic mineralized veins, but also produced significant selective grab sample assay results in new areas.

Quality Assurance and Quality Control

A total of 1,692 field samples were taken from the Stages 1 and 2 field exploration programs at the Ishkoday in 2018. All samples including standards, blanks and duplicates were sent to ALS laboratory facilities in Thunder Bay (Ontario) and Val-d'Or (Quebec) for analytical preparation and eventually to Vancouver (B.C.) precious and base metal assays, and whole rock analysis.

Some 322 field samples were taken during Stage 1: 82 channel samples from the Jack quartz-sericite-chlorite-sulphide schists and the "85-A2" quartz vein, and 240 selective grab samples from the quartz veins of the northern claims and both quartz and polymetallic veins from the southern claim blocks. A total of 468 channel samples were taken during Stage 2 from Line T18-1 and 475 taken from Line T18-2. Each channel sample were saw cut individually by a technician to lengths chosen by the senior geologists, ranging from 20cm to 1.5m, 5 to 7 cm widths and 7 to 10cm depths. Individual sample weights ranged from 5 to 10kg for channel samples and 1 to 3kg for selective grab samples.

Individual field samples were taken by either field technicians, prospectors or geologists, and inserted in individual plastic bags, each with ALS sample tags. Samples were checked, catalogued and bags sealed by the senior geologist, then placed in large numbered nylon bags with standards, blanks and duplicates. The bags were then sealed and transported by Explo-Logik employees to the ALS facilities. Once at the ALS facilities, samples were catalogued using the bar coding system, dried, weighed, crushed, pulverized to 70% <2mm, and riffle-split for final pulverization to 85% <75µm. A final split is taken for multi-element ICP-AES analysis (gold plus 33 elements) and ore grade finish on anomalous results in gold, silver, copper and zinc.

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 137,965,639 outstanding shares of which 59.4% are owned and controlled by Insiders and within the "friends and family" category.

The Corporation's emphasis is on the development of its flagship project, the 100% owned mid-stage Ishkoday Gold Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential.

LAURION has collected in excess of 14,000 samples since 2008. These samples included diamond drill core, field channel and selected field grab samples. Of these, some 10,354 samples have multi-element analysis (copper, zinc, lead, and partial major and trace elements) - 8,662 from previous drill core samples (8,582 with gold and silver), and 1,692 current channel and selected field grabs samples (1,536 with gold and silver).

The Corporation has a property-wide database of 283 diamond drill holes totaling 40,729 m, detailed sampling, mapping, assays and geochemical analysis, and ground geophysics.

Mineralization 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, as evidenced in the past producing Sturgeon River Mine (the "Mine"). The Mine produced 73,322 ounces of gold, and 15,929 ounces of silver from 1936 to1942 on the No. 3 Vein at 24 g/t gold, and generated a large gold and silver bearing stockpile of 144,070 tonnes grading 1.59 g/t gold in the Indicated Mineral Resources category (based on a NI 43 -101 Technical Report filed on SEDAR in June 2013 – refer to the Corporation's news release dated April 23, 2013).

Mr. Jean Lafleur, P. Geo. (APGO, OGQ), LAURION 's Technical Advisor to the Board of Directors, is a Qualified Person as defined by National Instrument 43-101 guidelines, and has reviewed and approved the content of this news release.

For links to photos and images of the Ishkoday Gold Project, please visit the Corporation's website at URL http://www.LAURION .ca or LinkedIn at URL https://www.linkedin.com/in/cynthia-le-sueur-aquin-04b03017/detail/recent-activity/

The Viewer should note that images and photos displayed on these websites show selected mineralization that may not necessarily be representative of the mineralization hosted on the Ishkoday Gold Project.

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 details, anticipated timing and completion of the transactions and other matters described in this press release, including without limitation, the timing, completion and future results of the Corporation's exploration program at Ishkoday. 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.

SOURCE Laurion Mineral Exploration Inc.

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