TORONTO, Dec. 31, 2012 /CNW/ - Laurion Mineral Exploration Inc. (TSX-V: LME) and (OTCQX: LMEFF) ("Laurion" or the "Corporation") is announcing that it has decided to grant, on December 31, 2012, a total of 3,130,000 stock options (the "Options") to its board of directors (the "Board"). The Corporation's Compensation Committee will issue the Options to the Board as compensation for each director's respective contributions to Laurion over the last year.
Each of these Options will have a ten year term and an exercise price of $0.05. One-third of the Options will vest immediately, one-third of the Options will vest on the first anniversary of their date of grant and the remaining one-third of the Options will vest on the second anniversary of their date of grant.
About Laurion Mineral Exploration Inc.
Laurion Mineral Exploration Inc. is a junior mining company focusing on the upside of its 100%-owned Sturgeon River property, a high impact project with a primary focus on gold and secondary focus in base metals.
With proven ability to develop early stage projects and create shareholder value by monetizing its discoveries and assets, Laurion has realized a total of $6.35 million in the last two years from monetization of its assets. The Corporation's current focus is on resource development at Sturgeon River, located in Beardmore, Ontario, approximately 220 km northeast of Thunder Bay.
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