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April 30, 2015
Laurion Announces the Execution of the Definitive Agreement for the Disposition of the Bell Mountain Project with Boss Power Corp.
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TORONTO -- April 30, 2015 - Laurion Mineral Exploration Inc. (TSX-V: LME and OTCPINK: LMEFF) ("Laurion" or the "Corporation") is pleased to announce that further to its February 25, 2015 news release, the Company has entered into a definitive purchase agreement with Boss Power Corp. (TSX.V: BPU) ("Boss Power"), to sell, indirectly, to Boss Power legal and beneficial right, title and interest (the "Interest") in the Bell Mountain Project located in Churchill County, Nevada.
As part of the transaction, Boss Power has assumed all of the obligations, interests and rights of the third party and parent, Globex Mining Enterprises Inc. and Globex Nevada Inc. (GMX -- Toronto Stock Exchange, G1M -- Frankfurt, Stuttgart, Berlin, Munich, Xetra Stock Exchanges and GLBXF -- OTCQX International) in connection with the Bell Mountain Project. Boss Power paid to Laurion the balance of the purchase price of $650,000 outstanding, less applicable tax withholdings.
Exploration Update on the Ishkoday Property
Laurion will shortly be executing a program of linecutting and a ground IP 3-D array survey covering the north east extension of the Ishkoday Property over the Tehya/Ahki, Name Ziibi and Loki Trends. The objective of the IP 3-D array survey is to explore the known mineralized zones and define drill targets to greater depths of 300 to 500 metres. The 3-D array survey will also complement the developing understanding of the structural setting of the mineralization. The goal of the next phases of drilling will be to confirm that surface mapping, detailed structural and geochemical analyses and appropriate geophysics can effectively define target volumes sufficiently to allow for focused follow-up.
About Laurion
Laurion's Ishkoday Discovery Property is contained within a 100% owned 4,442ha property package, located 220 km northeast of Thunder Bay with easy access off the Trans-Canada Highway.
Laurion is focused on unlocking the value of the Ishkoday gold and base metal environment hosted within three base metal trends, 3,000m each in strike length, in a 1km wide corridor. Laurion is expanding on a legacy of gold production from the Ishkoday shaft which is hosted in a significant gold environment.
Laurion's balanced and diversified management team is results driven and has achieved a decade of growth through asset monetization. Laurion's management objective is to advance the Ishkoday Discovery Property from discovery to value creation.
FOR FURTHER INFORMATION, CONTACT:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President
Tel: 1-705-788-9186
Fax: 1-705-788-9187
Website: www.laurion.ca
Neither the TSX Venture Exchange (the "TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
This news release includes certain forward-looking statements concerning the future performance of Laurion's business, operations and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar wo rds referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing. Actual events or results may differ materially from those projected in the forward-looking statements and Laurion cautions against placing undue reliance thereon. Laurion and its management assume no obligation to revise or update these forward looking statements except as required by law.
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