LOUNOR
EXPLORATION INC.
15, Gamble Street East �
Suite 204 - Rouyn-Noranda (Canada) J9X 3B6
Listing (TSXV = LO
Frankfurt = LE2A)
LOUNOR
DRILLS 1.72
M OF 5.8 G/T AU AT HARKER
Rouyn-Noranda,
Canada, May 2, 2008 - LOUNOR
EXPLORATION INC. reports additional results from its Harker gold
property.
Lounor
Exploration Inc. is providing additional drill results from its Harker gold
project, located in Harker Twp in Timmins/Kirkland Lake area (Ontario).
The
Harker property is located 5
km south of the Destor Porcupine Fault Zone (DPFZ) host of
many important gold mines in the Timmins - Porcupine Gold Mining Camp (>65
millions ounces of gold). The Holt McDermot Mine (1.3 million ounces) and the
Harker Halloway Mine (1.4 million ounces) are located on the DPFZ about
5 km north
�northeast of the property.
The
16 holes completed by Lounor to date have intersected the mineralized zone. The
results of the program have proven the gold zone to be over
200
metres in strike length and to a vertical depth
of 85
metres. It is open to the east, to the west and at
depth. Results from 9 holes have been received: (Press releases dated
February 5, 2008, April 14, 2008 and April 25, 2008),
with results from the most recent hole reported below.
Hole
From
To
Interval
Gold
(m)
(m)
(m)
(ft)
(g/t)
(oz/t)
Hole
#9
89.28
91.0
1.72 5.5
5.8
0.169
The
assays results for the last 7 holes drilled, are pending.
The
success has prompted a Phase III Diamond Drill program which is underway. The
goal of the program is to extend the mineralized zone to the west. Ten (10) new
drill holes are planned. One Diamond Drill is currently active on the property
and continues drilling on a 25 metres spacing. Channel sampling
of the surface exposure of the vein is currently in
progress.
Christian
Dupont, P. Eng., is the qualified person responsible of the information
contained in this release.
Private
Placement
Lounor
also announces the closing of a private placement of CDN $52,000. The private placement is for 247 620
common shares at a price of $0.21 per share. Each share is accompanied of one
half (�) of a purchase warrant valid for a period of 24 months. One whole warrant allows the subscriber
to purchase one common share of the Company at a price of $0.28 per
share.
The
securities issued pursuant to this private placement are subject to a hold
period of four months from closing.
LOUNOR
EXPLORATION INC. is a
publicly traded company on the TSX-Venture (TSXV-LO) and on the Frankfurt
Exchange (LE2A).
This
press release was prepared by LOUNOR EXPLORATION INC. and the TSX Venture
has not reviewed and does not accept responsibility for the adequacy or accuracy
of this release.
For
further information, please contact:
Mr.
Gilles Fiset, President
Leo
Patry, Investor Relations
Telephone : 1-800-388-8668
Telephone 1-888-974-1276 or 514-951-0250
819-797-8668
Email: leo.patry@hotmail.com
Fax :
819-797-6050
WEBSITE: WWW.LOUNOR.COM