- LAURION's chief priority remains maximizing shareholder
value by continuing to advance its Ishkoday Project, while
continuing to explore potential strategic alternatives and
transactional opportunities.
- LAURION's current strong financial position, with a cash
position of approximately $9.45
million, coupled with its success in advancing the
Ishkoday Project over the past several years, leaves the
company well-positioned to bolster long-term shareholder value
through its ongoing corporate growth via its Ishkoday Au-Zn-Cu-Ag
deposit.
- LAURION's objective for the Ishkoday Project is to initiate
development and production, as well as to continue exploration of
the project, implementing a phased and strategic approach to
monetize the available material through recovery of contained gold
within the stockpiles and/or existing shaft.
- LAURION aims to advance the Ishkoday Project with the
support of strategic alliances with certain third parties and
industry experts. LAURION believes that these alliances
should help the company achieve further exploration and
operational milestones, which in LAURION's opinion, may
make LAURION a more attractive target or partner for a potential
merger, acquisition, significant financing or other capital markets
event.
- Key exploration milestones achieved in 2022 not only
validated the 6km x 2.5km mineralized corridor and
extended A-Zone to the McLeod Zone by 400m to 1.4km, but also
significantly expanded the mineralized trends, confirming
that the stacked vein system remains open at depth and
along strike.
TORONTO, Oct. 11,
2022 /CNW/ - LAURION Mineral Exploration
Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the
"Corporation"), wishes to reassure investors that it is
well-positioned to advance the Ishkoday Project and capitalize on
any potential strategic opportunity that may present itself in the
future, all of its projects remain on-track, and LAURION is
stronger and more resilient that ever.
In management's view, LAURION's recent appointment of its new
Chief Financial Officer, Tyler
Dilney, will strongly complement the Corporation's strategic
objectives. In particular, Tyler's in-depth experience in
accounting, financial disclosure and capital markets, especially as
they relate to public companies in the mining industry, should
benefit LAURION greatly. More broadly, management believes that
Tyler's solid track record will help us achieve our immediate and
long term goals as we enter a critical juncture in the outlook for
LAURION.
As previously announced via a news release dated September 27, 2022, LAURION is currently in
discussions with DRA Americas Inc. ("DRA") for consulting
and engineering services to develop the stockpile and shaft-based
project at Ishkoday, with the goal of monetizing the available
material through recovery of contained gold within the stockpiles
and/or existing shaft.
Simultaneously with the continuing advancement of the Ishkoday
Project, LAURION aims to continue ramping up its exploration
programs with the assistance of Ronacher McKenzie Geosciences Inc.
(RMG), which provides LAURION with a wide breadth of geological
expertise and innovative techniques. LAURION's 2022 drilling and
mapping programs have demonstrated that the stacked vein system
remains open at depth and to southwest, suggesting that the mineral
exploration potential of the Ishkoday Au-Zn-Cu-Ag deposit could
increase considerably in the future.
About LAURION Mineral Exploration
Inc.
The Corporation is a junior mineral exploration and development
company listed on the TSXV under the symbol LME and on the OTCPINK
under the symbol LMEFF. LAURION now has 255,969,855 outstanding
shares of which approximately 80% 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.
Since 2003, Laurion has: completed multiple exploration surveys
on the property, including prospecting, mapping, geochemical (grab,
channel and soil sampling), ground and airborne geophysical (Mag,
IP, VLF-EM), 3D modelling, airborne (LiDAR) and drilling surveys;
invited experts in geophysics and in economic and structural
geology to visit and review the property; and undertaken a PhD
thesis and research led by Laurentian
University and Metal Earth. To date, 419 drill holes for a
total of 78,663 m have been drilled
on the property, including 43,396 m
completed by Laurion from 2010 to 2014 and from 2020 to 2022 and
35,267 m historic drill holes. Most
of the drill holes are closely-spaced and concentrated within the
A-Zone and McLeod zone, except for some largely-spaced drill holes
located along the Ishkoday mineralized trend.
Website: http://www.LAURION .ca
Follow us on Twitter: @LAURION_LME
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 Corporation's ability to advance the Ishkoday
Project, any potential acquisitions, mergers, financings or other
transactions referenced herein and any potential future
arrangements and engagements with DRA, its affiliates and/or other
third parties. 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.
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.