Laurion Confirms Presence of Mineralized Trend Adjacent to Potential Target Deposit

TORONTO, Nov. 30, 2011 /CNW/ - Laurion Mineral Exploration Inc. (TSX-V: LME) and (OTCQX: LMEFF) ("Laurion" or the "Corporation") is pleased to announce that, it has received results from its preliminary exploration drill program on its Jubilee property.

The Jubilee and the recently acquired Beaurox properties are contiguous to the Corporation's Sturgeon River north eastern boundary, and are located in the south western quarter of Elmhirst Township, 25 kilometres east of the Town of Beardmore, Ontario.

The objective of this small program carried out in September 2011 (3 holes totaling 427 metres), was to locate mineralized trends discovered in drilling in 1953 on the property which included 1,006 g/t Au over 2.93 metres in a quartz vein system and 1.71 g/t Au, 9.6 g/t Ag and 4.98% Zn in an adjacent sub-parallel base metal system located to the north west ("A" trend). (See news release of August 30th, 2011).

Although the 1953 drill hole locations are imprecise, based on assessment maps from the 1953 report it is believed that the mineralized trends are strike extensions of the Tehya, Ahki, Loki and A2 Vein trends, which are prospective horizons for precious metal rich VMS mineralization on the adjacent Sturgeon River Property to the southwest of the Jubilee claims (3.10 g/t Au, 27.5 g/t Ag, 0.38% Cu and 5.63% Zn over 3.10m reported from April 2011 drilling by Laurion).

The exploration strategy used in the Jubilee property initial program, consisted of a fence of short holes (125-150 metre lengths) across the intermediate to felsic volcanic stratigraphy that is suspected of hosting the mineralized trends. Laurion was successful in crossing both the quartz vein system and the base metal horizon with these holes. Results included thick sequences of intermediate volcanics with anomalous gold values (20 ppb), in altered and sheared rocks (chlorite, sericite), and including discrete areas of visible base metal mineralization (sphalerite and chalcopyrite). The best results included:

Drill Hole From
(m)
To (m) Interval
(m)
Au g/t Ag g/t Zn% Cu%
LJ11-001 126.50 127.00 0.50 3.35 1.70 0.30 -
136.05 136.55 0.50 1.41 3.20 0.59 0.09
LJ11-002 61.50 62.00 0.50 0.19 1.90 1.20 0.09
87.50 90.50 3.00 0.40 2.10 0.32 0.12
103.42 104.24 0.82 1.22 3.40 0.30 -
LJ11-003 97.70 118.00 20.30 0.25 - - -
Incl. 97.70 98.20 0.50 3.46      
Incl. 109.00 110.53 1.53 0.91 3.60 0.65 0.13

Laurion is encouraged that the initial drill program has led to the discovery of what is believed to be the mineralized trends. Now that the location of the trends has been confirmed subsequent exploration programs will focus on discovering the high grade lodes associated with these trends.  Laurion is also interested in following up the altered and widely mineralized intermediate volcanic horizons (20.3 metres at 0.25 g/t Au in DDH LJ11-003). All three holes ended in anomalous gold values (>20 ppb), indicating the potential of expanding these mineralized horizons.

The Beaurox property encases the Jubilee property to the north, east and west. The Beaurox property contains eight named surface showings, most with at least one or two drill holes through the mineralized zones (see map/diagram below). These showings appear to line up into three sub-parallel horizons trending northeast along the regional geological strike. From northwest to southeast they include the River Zone (River Showing and River Showing SW Extension), the "D" trend (Area D, Garvey Zone, Miron Vein, and extending to the southwest onto Laurion's Sturgeon River property as the Tehya Zone) and the "A" trend (Area A, Area B, and extending southwest into the McLeod-Kennedy Zone on Laurion's Jubilee property, and into the A-2 Vein on Laurion's Sturgeon River property). It is estimated that the strike lengths of the "D" trend and the "A" trend on the Beaurox Property are approximately 1.5km, and combined with Laurion's other property holdings along the trends, that the potential strike lengths of the combined "D trend to Tehya" and "A trend to A-2 vein" may each extend to over 2.7km.

The best drill intersection on the Beaurox property on the "A" trend (Area A, Area B, MacLeod - Kennedy showing) was in drill hole 92-58 with 5.10 g/t Au, 24.8 g/t Ag, 0.40% Cu and 3.90% Zn over 4.00 metres. Laurion has developed a Target Deposit based on drilling information comprised of 197 diamond drill holes totalling 20,836 metres, which suggests a Target Deposit size of 4.0-6.0 million tonnes at 1.5-3.0 g/t gold, 20-30 g/t silver, 2.5-3.5% zinc and 0.25-0.50% Cu (see press release from November 22, 2011).

Note: 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.

About Laurion Mineral Exploration Inc.

The Corporation's focus is to make the transition from explorer to near-term 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 and Churchill County, Nevada USA.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain forward-looking statements concerning the future performance of Laurion's business, operations and financial performance 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, as described in more detail in our filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Laurion cautions against placing undue reliance thereon. 

Image with caption: "Laurion Confirms Presence of Mineralized Trend Adjacent to Potential Target Deposit (CNW Group/Laurion Mineral Exploration Inc.)". Image available at: http://photos.newswire.ca/images/download/20111130_C2546_PHOTO_EN_7666.jpg

SOURCE Laurion Mineral Exploration Inc.

For further information:

Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin, President & CEO
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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