/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, May 6, 2020 /CNW/ - Laurion Mineral
Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) ("LAURION" or the
"Corporation") announces that the Corporation has filed
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").
LAURION is normally required under subsections 4.2(b) and 5.1(2)
of National Instrument 51‐102 – Continuous Disclosure
Obligations to file its Annual Filing Documents by the
120th day after the Corporation's most recently
completed financial year. However, as previously disclosed in the
Corporation's news release dated April 28,
2020, due to the initial logistical restrictions and
operational challenges resulting from the outbreak of the COVID-19
pandemic, the Corporation elected to rely on the temporary blanket
relief published by Canadian securities regulators to file its
Annual Filing Documents. These restrictions and challenges have
since been addressed and administrative activities have
normalized.
As required by Ontario Instrument 51-502 – Temporary
Exemption from Certain Corporate Finance Requirements
("Ontario Instrument 51-502"), LAURION confirms that there
have been no material business developments since April 28, 2020 (being the date of the
Corporation's last news release required by Ontario Instrument
51-502).
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 181,125,977 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. The recently acquired Brenbar
Property, which is contiguous with the Ishkoday Property, hosts the
historic Brenbar Mine and LAURION believes that the mineralization
to be a direct extension of mineralization from the Ishkoday
Property.
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.