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TORONTO, July 16, 2019 /CNW/ - Laurion Mineral
Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) ("LAURION" or the
"Corporation") is pleased to announce the formation of a
Technical Advisory Management Board (the "Advisory Board")
to provide advice and peer review to the Board and LAURION
management with respect to ongoing exploration efforts on the
Ishkoday Project. The Advisory Board is comprised of the following
individuals:
- Dr. Neil D.S. Westoll:
Dr. Westoll brings more than 45 years of diverse international
experience in resource exploration and business development, having
worked with some of the world's largest mining companies in key
management roles, such as Mining Practice Leader and later on as an
independent consultant. He has initiated, developed and negotiated
agreements with landowners and governments worldwide. He is a
previous Chairman of the Toronto
Branch of the Canadian Institute of Mining, Metallurgy and
Petroleum, and a former member of the board of PDAC.
- Dr. William Pearson: Dr.
Pearson is an economic geologist with over 45 years' experience in
the national and international mining industry. He has held senior
executive positions with junior and intermediate mining companies
active in exploration, mine development and production, with
experience in all phases of mining. Dr. Pearson is a present and
past director of several publicly traded mining companies. He is
also the founding President of the Association of Professional
Geoscientists of Ontario (APGO)
and a past director of Geoscience Canada.
- Jean Lafleur: Mr. Lafleur
is a professional geologist with over 30 years of experience in the
national and international mining industry. Among other things, he
has held senior management and board positions at a wide spectrum
of private and publicly-traded mining companies. He has also acted
as a senior advisor and consultant for a number of junior
exploration companies.
- Scott Biloski: Mr.
Biloski is a Civil Engineering Technologist and President and
Co-Owner of Biloski Brothers Sand and Gravel Ltd., which has been
in business for 71 years serving Northwestern Ontario. Mr. Biloski is a third
generation owner of this family business, with over 25 years of
experience in the Aggregate and Construction Industry.
- E. Terry Jensen: Mr.
Jensen is a senior level geologist, hydro-geologist and project
manager with more than 35 years of both private and government
experience, encompassing technical, project management and senior
management level consulting.
"We are extremely excited to have assembled a Technical Advisory
Management Board with such a wide breadth of experience and
expertise in exploring and developing mining projects," said
Cynthia Le Sueur-Aquin, President
and Chief Executive Officer of the Corporation. "The Technical
Advisory Management Board will be a tremendous asset to LAURION,
enabling us to leverage the extensive knowledge of these industry
leaders."
Issuance of Stock Options
The Corporation also announces that pursuant to its stock option
plan, subject to TSX Venture Exchange (the "TSX-V")
approval, LAURION has today granted each of the following
individuals incentive stock options ("Options") to acquire
250,000 common shares of the Corporation (with all of the Options
issued today being exercisable for an aggregate of 750,000 common
shares):
- Scott Biloski, the VP of
Operations;
- Michael Burmi, a newly appointed
director; and
- John Covello, a newly appointed
director.
The Options have a ten year term and an exercise price of
$0.11 per share. One third of the
Options vest immediately, one-third of the Options will vest on the
first anniversary of their date of grant and the remaining
one-third of the Options will vest on the second anniversary of
their date of grant.
About LAURION
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 153,850,084
outstanding shares of which 62% 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 44 km2 Ishkoday
Project, and its gold-silver and gold-rich polymetallic
mineralization with a significant upside potential. The Ishkoday
Project has a project-wide database (2008 to 2018) that includes
283 diamond drill holes totaling 40,729
m, geological mapping, ground geophysics, and 14,992
individual samples with assays and geochemical analysis. The
mineralization on the 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, as evidenced in the past producing
Sturgeon River Mine.
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,
the Options and LAURION's stock option plan,
and 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 TSX-V not providing its approval for the granting of Options,
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.