Laurion Announces Prospecting Results on its Surgeon River

Au/Ag Rich VMS Target with High Grade Grab Samples up to 53.00 g/t Au, 133 g/t Ag, 1.86% Cu and 27.50% Zn

TORONTO, July 18, 2012 /CNW/ - Laurion Mineral Exploration Inc. (TSX-V: LME) and (OTCQX: LMEFF) ("Laurion" or the "Corporation") is very pleased to announce the results of assays taken from its recent program of prospecting over the 2.7 km of strike length covering the Tehya, Ahki, Loki and A-Zone precious metal rich volcanogenic massive sulphide (VMS) trends.

Laurion began exploring the VMS trend on its Sturgeon, Sturgeon North and Beaurox properties in 2010. Following initial drilling in 2010 and 2011 Laurion announced in November 2011 (news release November 22, 2011) that it was pursuing a Target Deposit size of:

Target Deposit Potential - Sturgeon River to Beaurox Trends  

Potential Tonnage
Range
(tonnes)
Gold Grade
Range
(gpt)
Silver Grade
Range
(gpt)
Zinc Grade
Range
%
Copper Grade
Range
%
4.0 to 6.0 million 1.5 to 3.0  20 to 30  2.5 to 3.5 0.25 to 0.50

The reader should be cautioned that the potential quantities and grades reflected above are conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.

To explore the Target Deposit area, Laurion began compiling information on more than 200 diamond drill holes completed since the 1950's and including holes drilled by Laurion from 2010 to 2012. These drill holes cover portions of the Tehya, Ahki, Loki and A-Zone precious metal rich VMS trends, as well as the adjacent River Zone Cu-Au trend to the north. This compilation has recently been completed and allowed Laurion to initiate targeted prospecting along the trends of mineralization and to complete an initial orientation drill program on the A-Zone (assays pending).

The prospecting successfully exposed mineralization in trenches on extensions to the A-Zone (defined by approximately 90 historical diamond drill holes) both to the southwest and northeast; on zones parallel to the Tehya zone; and on the River Zone (East and West).

The assays reported below are from grab samples taken from exposed mineralization in trenches and outcrops.

Loki Trend A-Zone Northeast Extension

The sampling took place in trenches located on the Beaurox property approximately 250 metres northeast and along strike of drilling completed by Laurion in June 2012 (assays pending). A total of 14 samples were taken along 125 metres of strike length. Best assay results included 15.30 g/t Au, 77.8 g/t Ag and 27.50% Zn. Complete assay results of base and precious metals is included in the table below.

Sample # Zone Au g/t Ag g/t Cu % Pb % Zn %
S#1087368 A-Zone NE Extension 0.09 3.2 0.01 0.01 0.08
S#1087369 A-Zone NE Extension 0.37 12.3 0.03 0.01 0.21
S#1087370 A-Zone NE Extension 0.09 7.5 0.02 0.01 0.01
S#1087371 A-Zone NE Extension 0.01 0.5 0.00 0.00 0.00
S#1087372 A-Zone NE Extension 0.04 1.4 0.00 0.01 0.01
S#1087373 A-Zone NE Extension 0.03 2.3 0.01 0.01 0.02
S#1087374 A-Zone NE Extension 0.74 75.9 0.36 0.27 2.89
S#1087375 A-Zone NE Extension 15.30 9.4 0.01 0.15 0.02
S#1087376 A-Zone NE Extension 0.03 1.0 0.01 0.00 0.03
S#1087377 A-Zone NE Extension 3.64 77.8 0.03 0.04 0.05
S#1087378 A-Zone NE Extension 5.24 75.9 0.02 0.03 0.06
S#1087379 A-Zone NE Extension 0.16 8.8 0.08 0.01 1.13
S#1087380 A-Zone NE Extension 0.70 28.4 0.12 0.30 27.50

Loki Trend A-Zone Southwest Extension

The sampling took place in trenches located on the Sturgeon property approximately 440 metres southwest and along strike of drilling completed by Laurion in 2011, which initially identified the Loki Trend. The Loki Trend is now projected to be the southwest strike extension of the A-Zone on the Beaurox property, and occurs approximately 400 metres south and parallel to the Tehya Zone. A total of 7 samples were taken along 220 metres of strike length. Best assay results included 42.30 g/t Au and 18.80% Zn. Complete assay results of base and precious metals is included in the table below.

Sample # Zone Au g/t Ag g/t Cu % Pb % Zn %
S#1087410 Loki 0.11 1.0 0.01 0.01 0.02
S#1087411 Loki 1.63 5.7 0.03 0.00 18.80
S#1087412 Loki 0.50 8.3 0.01 0.02 0.22
S#1087413 Loki 0.43 1.8 0.00 0.00 0.03
S#1087414 Loki 42.30 6.2 0.00 0.00 0.02
S#1087415 Loki 0.17 < 0.2 0.00 0.00 0.01
S#1087416 Loki 0.04 0.2 0.00 0.00 0.01

A2 Zone

The sampling took place in trenches located on the Sturgeon property approximately 300 metres south and parallel to the Tehya Zone. A total of 7 samples were taken along 820 metres of strike length. Best assay results included 53.00 g/t Au and 23.5 g/t Ag and 18.90% Zn. Complete assay results of base and precious metals is included in the table below.

Sample # Zone Au g/t Ag g/t Cu % Pb % Zn %
S#1087396 A2 1.06 17.7 0.38 0.01 13.80
S#1087397 A2 0.30 0.6 0.00 0.00 0.07
S#1087401 A2 53.00 23.5 0.00 0.00 0.02
S#1087402 A2 0.33 3.3 0.02 0.03 0.80
S#1087403 A2 0.16 0.6 0.00 0.00 0.01
S#1087404 A2 0.10 1.0 0.00 0.00 10.60
S#1087405 A2 4.58 13.6 0.07 0.01 18.90

85-A2 Zone

The sampling took place in trenches located on the Sturgeon property approximately 150 metres south and parallel to the Tehya Zone. A total of 8 samples were taken along 350 metres of strike length. Best assay results included 2.53 g/t Au and 91.1 g/t Ag, 1.66% Cu and 15.00% Zn. Complete assay results of base and precious metals is included in the table below.

Sample ID Zone Au g/t Ag g/t Cu % Pb % Zn %
S#1087390 85-A2 Zone 0.25 7.6 0.07 0.03 0.15
S#1087391 85-A2 Zone 0.28 7.0 0.27 0.01 3.44
S#1087392 85-A2 Zone 1.84 1.1 0.00 0.00 0.02
S#1087393 85-A2 Zone 2.53 6.1 0.08 0.02 0.65
S#1087394 85-A2 Zone 0.78 0.6 0.00 0.00 0.01
S#1087395 85-A2 Zone 0.66 14.7 0.87 0.01 15.00
S#1087408 85-A2 Zone 0.29 91.1 1.66 0.20 5.75
S#1087409 85-A2 Zone 0.46 51.6 1.16 0.03 1.00

A4 Zone

The sampling took place in trenches located on the Sturgeon property approximately 200 metres northeast of the 85-A2 sampling. The A-4 is possibly the extension of the 85-A2 zone.  A total of 8 samples were taken along 260 metres of strike length. Best assay results included 1.96 g/t Au and 133.0 g/t Ag, 0.56% Cu, 2.95% Pb and 9.37% Zn. Complete assay results of base and precious metals is included in the table below.

Sample ID Zone Au g/t Ag g/t Cu % Pb % Zn %
S#1087398 A4 1.96 133.0 0.56 2.95 7.10
S#1087406 A4 0.36 3.4 0.26 0.00 0.28
S#1087407 A4 0.48 23.2 0.19 0.05 9.37
S#1087417 A4 0.32 65.0 0.93 0.04 0.18

River Zone West

The sampling took place in trenches located on the Sturgeon North property. Two sub-parallel zones of mineralization were identified approximately 60-75 apart across strike. The northerly zone was sampled over 350 metres of strike and is a gold zone. The southerly zone is a copper, silver and gold zone.  A total of 8 samples were taken along 260 metres of strike length. Best assay results included 6.86 g/t Au and 48.9 g/t Ag, and 1.86% Cu. Complete assay results of base and precious metals is included in the table below.

Sample ID Zone Au g/t Ag g/t Cu % Pb % Zn %
S#1087381 River Zone West-N 0.01 0.2 0.00 0.00 0.03
S#1087382 River Zone West-N 6.86 3.2 0.00 0.02 0.03
S#1087383 River Zone West-N 2.00 1.9 0.00 0.00 0.01
S#1087384 River Zone West-N 0.70 1.7 0.00 0.01 0.01
S#1087385 River Zone West-N 0.15 0.4 0.00 0.00 0.00
S#1087386 River Zone West-N 1.17 1.1 0.00 0.00 0.00
S#1087387 River Zone West-N 1.45 1.3 0.00 0.00 0.00
S#1087388 River Zone West-S 0.15 48.9 1.86 0.00 0.03
S#1087389 River Zone West-S 0.57 6.6 0.45 0.00 0.02

River Zone East

The sampling took place in trenches located on the northern part of the Beaurox property. The zones of mineralization appear to be a strike extension of the copper, silver and gold zone on the River West south zone. Samples were taken over 860 metres of strike length.  A total of 8 samples were taken along 260 metres of strike length. Assay results were generally low and all results are included in the table below.

Sample ID Zone Au g/t Ag g/t Cu % Pb % Zn %
S#1087354 River Zone East 0.02 0.8 0.00 0.00 0.00
S#1087355 River Zone East 0.00 0.5 0.00 0.00 0.01
S#1087356 River Zone East 0.01 1.4 0.00 0.00 0.01
S#1087357 River Zone East 0.00 1.2 0.01 0.00 0.02
S#1087358 River Zone East 0.00 0.5 0.00 0.00 0.01
S#1087359 River Zone East 0.81 0.6 0.01 0.00 0.01
S#1087360 River Zone East 0.00 < 0.2 0.01 0.00 0.01
S#1087361 River Zone East 0.08 11.9 0.90 0.00 0.01
S#1087362 River Zone East 0.10 3.9 0.17 0.00 0.01

A further 9 samples were taken from other zones within the 3 properties, but none had significant results.

The prospecting results, coupled with Laurion's and historical drilling has identified a belt of northeast trending felsic to intermediate fragmental volcanics extending along strike for 2.7 kilometres and across 500 metres of stratigraphy that contains significant zones of precious metal rich VMS mineralization. Laurion is currently planning definition and exploration drill programs along this trend. This drilling will be carried out through the remainder of the summer and into the fall of 2012. The ultimate goal of this drilling is the development of NI43-101 compliant mineral resources.

All sampling from the 2012 prospecting program were delivered by GeoVector Management Inc. personnel to the Activation Laboratories ("Actlabs") facility in Thunder Bay and/or Geraldton. Actlabs is an ISO/IEC 17025 accredited analytical laboratory. Analysis for gold was by fire assay with AA finish, followed by fire assay with gravimetric finish for samples over 3 g/t Au. Samples were also treated with a multi-acid ICP process, and base metal values over detection limit were treated to ore grade base metal assays. Analytical accuracy and precision are monitored at the laboratory by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. GeoVector also routinely inserted blanks and certified standards into the sample stream in order to independently assess analytical accuracy. All certified standard assays were within acceptable limits.

The technical information contained in this news release has been verified by Joe Campbell, P. Geo., consulting geologist with GeoVector Management Inc. Mr. Campbell is the project manager for Laurion's Sturgeon River project and is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."

About Laurion Mineral Exploration Inc.

The Corporation's focus is to make the transition from explorer to producer and envisages the realization of shareholder value and wealth through monetization of its discoveries and assets. Laurion's exploration horizons are focused primarily on gold with a secondary interest in base metals, with key interests in prospective mining properties located in Ontario, Canada and Nevada, USA.

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 words 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.

SOURCE Laurion Mineral Exploration Inc.

For further information:

Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President
Tel: 1-888-212-4070
Tel: 1-705-788-9186
Fax: 1-705-788-9187
Website: www.laurion.ca

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Laurion Mineral Exploration Inc.

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