TORONTO, Feb. 19 /CNW/ - Laurion Mineral Exploration Inc. (TSXV: LME) ("Laurion") is pleased to announce that it has retained the services of geological consulting company GeoVector Management Inc. ("GeoVector") to manage and direct its exploration programs.
Laurion recently announced the closing of the sale of its property interests in Timmins, Ontario, to San Gold Corporation. It also recently announced the execution of a letter of intent (the "LOI") with Stroud Resources Ltd. ("Stroud"), pursuant to which Stroud agreed, subject to certain conditions, to grant an option to Laurion to acquire up to 60% of its undivided 100% legal interest in the Leckie Lake Gold Property (the "Leckie Lake Property") located 3 kilometres north of Temagami, Ontario.
GeoVector is expected to complete the initial due diligence on the Leckie Lake Property prior to Laurion and Stroud entering into a Definitive Option Agreement (the "Definitive Option Agreement") on the terms and conditions agreed to in the LOI. In addition, GeoVector is expected to complete the technical data compilation and a NI 43-101 Technical Report on the Leckie Lake Property within 180 days of the Definitive Option Agreement.
GeoVector is also to complete a technical and geological evaluation of the Corporation's remaining property portfolio and develop exploration programs to be conducted this year.
The Principals of GeoVector are Joe Campbell (BSc, P.Geo.), Alan Sexton (MSc, P.Geo.), Tom Setterfield, (PhD, P.Geo.) and Roman Tykajlo, (BSc, P.Geo.) Tom Setterfield shall act as Laurion's Project Manager. GeoVector has 110 years of cumulative industry experience and provides consulting services to the mineral industry, ranging from grass-roots exploration to advanced pre-development programs. GeoVector provides comprehensive project evaluations that integrate the practical application of resource and reserve estimations with management of economic analyses, incorporating all disciplines, including environmental, community and aboriginal impacts.
About Laurion Mineral Exploration Inc.
Laurion is an exploration company with key interests in prospective mining properties located in Ontario. Laurion's primary exploration focus is the identification of gold deposits; its exploration horizon also encompasses base metals and PGEs.
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 recent securities 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. Laurion and its management assume no obligation to revise or update these forward-looking statements.
SOURCE Laurion Mineral Exploration Inc.
For further information: For further information: Laurion Mineral Exploration Inc., Cynthia Le Sueur-Aquin - President, Tel: (705) 788-9186, Fax: (705) 788-9187, Website: www.laurion.ca