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Private Placement: LAURION Mineral Exploration Inc. (TSXV:LME)

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The company is looking to raise gross proceeds of up to $1.2 million from the placement of up to approximately 5.2 million (5,217,392) flow-through units priced at $.23 per unit and is also looking to raise gross proceeds of up to $300,000 from the placement of up to approximately 1.4 million (1,363,637) non flow-through units priced at $0.22 per unit.

Additional Information:

Company: LAURION Mineral Exploration Inc.
Website: http://www.laurion.ca
Stock Symbol: TSXV: LME
Date Published: Mar 1, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

LAURION Mineral Exploration Inc. has announced two non-brokered private placements.

The company is looking to raise gross proceeds of up to $1.2 million from the placement of up to approximately 5.2 million (5,217,392) flow-through units priced at $.23 per unit.

Each flow-through unit consists of 1 flow-through share and 1 warrant, with the warrant exercisable at $0.25 for 12 months.

The company is also looking to raise gross proceeds of up to $300,000 from the placement of up to approximately 1.4 million (1,363,637) non flow-through units priced at $0.22 per unit.

Each non flow-through unit consists of 1 share and 1 warrant with the warrant exercisable at $0.24 for 12 months.

The shares are currently trading at $0.20.

The proceeds will be used for exploration and general working capital, purposes.

The company’s focus is on the development of its flagship project, the 100% owned mid-stage 47 square kilometre Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential.

The mineralization on Ishkoday is open at depth beyond the current core-drilling limit of 200 metres from surface, based on the historical mining to a 685 metre 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.

The 2020 drilling comprised 31 oriented diamond drill holes totalling 7,937 metres, geophysical surveys and effective surface geological mapping, providing LAURION with a new insight into the knowledge of the Ishkoday mineralizing systems and extent of its potential new targets.

LAURION's new 3D data integration with combined data and knowledge driven interpretation has greatly enhanced prospectivity, providing key understanding to maximize drill targeting and generation of new areas of interest.

LAURION aims to build on the successes of the 2020 exploration and drill program as a springboard for another highly productive year.

The company recently announced a new 10,000 metre drill program to expand on new targets including the new Niish Discovery Zone.

Cynthia Le Sueur-Aquin, President and CEO, stated: "LAURION plans a strong level of activity at Ishkoday for the 2021 field season. This drilling campaign will aim at developing numerous advanced drill targets generated from recent data integration and re-interpretation of the structural and geological settings. LAURION's field crew will mobilize to the Ishkoday Property in March to begin preparations in order to commence high priority targeted drilling along with a field validation program on our other gold and polymetallic targets."

For more information, please visit the company’s website at www.laurion.ca, contact Cynthia Le Sueur-Aquin, President and CEO, at 705-788-9186 or by email at clesueuraquin@laurion.ca

I’m Megan Edwards for Investmentpitch Media