/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
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UNITED STATES./
TORONTO, April 28, 2020 /CNW/ - Laurion Mineral
Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) ("LAURION" or the
"Corporation") announces that due to the impact on normal
working conditions and other challenges caused by the COVID-19
pandemic (including accommodating the work schedules of the
Corporation's external advisors and consultants), and pursuant to
the blanket relief granted by the Canadian Securities
Administrators, the Corporation will not file its annual audited
financial statements for the year ended December 31, 2019 and its related management's
discussion and analysis (collectively, the "Annual Filing
Documents"), as would otherwise be required by Parts 4 and 5 of
National Instrument 51-102 – Continuous Disclosure
Obligations, prior to the filing deadline of April 29, 2020.
According to Ontario Instrument 51-502 – Temporary Exemption
from Certain Corporate Finance Requirements, the Ontario
Securities Commission has provided a conditional 45-day extension
for filing certain continuous disclosure documents, including the
Annual Filing Documents, by reporting issuers in Ontario. Securities regulators in other
Canadian provinces have issued corresponding exemption orders. The
Corporation currently has no material business developments since
the date of its last financial statements, other than the business
developments that have previously been disclosed and filed by the
Corporation on SEDAR.
The Corporation's management and other insiders are subject to
an insider trading black-out policy that reflects the principles in
section 9 of National Policy 11-207 – Failure-to-File Cease
Trade Orders and Revocations in Multiple Jurisdictions, such
that they are subject to a black-out period until 10 days after the
Annual Filing Documents have been filed. The Corporation
currently anticipates that its Annual Filing Documents will be
filed by May 6, 2020.
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 180,599,311 outstanding
shares of which approximately 59% 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. Ishkoday has a
project-wide database (2008 to 2019) that includes 307 diamond
drill holes totaling 48,879 m,
geological mapping, ground and airborne geophysics, and 21,800
individual samples with assays and geochemical analysis. 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.
Mr. David Lewis, P. Geo.
(APGO, OGQ), LAURION 's Exploration Manager and 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 technical content of this news release.
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, 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 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.