Laurion Announces Proposed Private Placement with MineralFields Group

    Issued and Outstanding 34,445,776 Common Shares

    TORONTO, Oct. 1 /CNW/ - Laurion Mineral Exploration Inc. (TSXV: LME) (the
"Corporation") is pleased to announce a proposed non-brokered private
placement (the "Private Placement") of 4,347,826 flow-through units (each a
"Unit") to MineralFields Group (a division of Pathway Asset Management) at a
price of $0.115 per Unit for aggregate gross proceeds of $500,000. Each Unit
will consist of one flow-through common share in the capital of the
Corporation (each a "Flow-Through Share") and one-half of one non-flow-through
common share purchase warrant (each whole warrant a "Warrant"). Each Warrant
will entitle the holder thereof to purchase one common share (each a "Common
Share") at a price of $0.20 for a period of two years from the closing date.
The closing is expected to take place on or about October 5, 2007.
    The Corporation will pay a finder's fee to Limited Market Dealer Inc. in
the form of common shares equal to 10% of the of the number of Units
subscribed for in the Private Placement. The Corporation will also pay a due
diligence fee to Limited Market Dealer Inc. equal to 8% of the gross proceeds
raised in the Private Placement.
    The Flow-Through Shares, Common Shares and Warrants will be subject to
resale restrictions for a period of four months and one day from the date of
issuance and the Private Placement remains subject to approval of the TSXV
Venture Exchange.
    "We are very pleased that MineralFields Group has expressed an interest
in investing in Laurion," said Cynthia Le Sueur-Aquin, President of the
Corporation. "We look forward to working with MineralFields Group."

    Laurion Mineral Exploration Inc. is an early stage exploration specialist
company with projects in Ontario. Laurion's exploration horizons encompass not
only gold, but also base metals and PGE's.

    MineralFields Group (a division of Pathway Asset Management) is a
Toronto-based mining fund with significant assets under administration that
offers its tax-advantaged super flow-through limited partnerships to investors
throughout Canada during most of the calendar year, as well as hard-dollar
resource limited partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution of
structured products and mutual funds. Information about MineralFields Group is
available at First Canadian Securities(R) is active in
leading resource financings (both flow-through and hard dollar) on
competitive, effective and service-friendly terms, with investors both within,
and outside of, MineralFields Group.

For further information:

For further information: Laurion Mineral Exploration Inc., Cynthia Le
Sueur-Aquin, President, Tel: (705) 788-9186, Fax: (705) 788-9187, Website:; CHF Investor Relations,, Barry Leung, Broker
Relations Account Manager,, Tel: (416) 868-1079 ext.247; Kelly
Cody, Assoc. Account Manager,, Tel: (416) 868-1079 ext.223

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Laurion Mineral Exploration Inc.

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