Issued and Outstanding Common Shares
LME - 66,043,683
TORONTO, June 11 /CNW/ - Laurion Mineral Exploration Inc. (TSXV: LME)
("Laurion" or "the Company") today announced the National Instrument 43-101
Technical Report (the "Report") has been completed for its Sturgeon River Mine
Property ("property") located in northwestern Ontario. The Report was
completed by Caracle Creek International Consulting Inc. ("CCIC") of Sudbury,
The property is located in the Beardmore-Geraldton greenstone belt that
has reportedly produced more than 4.12 million ounces of gold from 19 mines
since 1925 when gold was first discovered in the area. The Sturgeon River Mine
Property is host to the formerly producing Sturgeon River Mine, also known as
the Coniagas Mine, which produced 73,439 ounces of gold, and 15,922 ounces of
silver between 1936 and 1942. An ore reserve estimate was completed at the
time of mine closure having 130,680 tons grading an average of 0.306 oz Au/ton
which does not comply with NI 43-101 (OM 86-43). CCIC, while not being able to
certify the historical reserve estimate, concluded that the Sturgeon River
Mine Property is an excellent early-stage advanced exploration project for
Archean gold mineralization and further that the previously encountered
mineralization and historical mineral reserves are of sufficient merit to
justify further exploration on the Property. CCIC recommended an initial
exploration program totaling C$525,450 to include line cutting, ground
geophysics, and 2,500 metres of diamond drilling.
A field exploration program will be conducted over the next two months
with a drilling program scheduled for late summer 2008.
Two main types of mineralization occur on the Sturgeon River Mine
Property and are the main exploration targets: (i) shear-hosted lode gold; and
(ii) volcanogenic massive sulphide mineralization. Underground development of
the Sturgeon River Mine includes a shaft sunk to a depth of 2,108 ft with
development on 14 levels, the lowest producing level being at 1,750 ft; and
20,239 ft of drifting and 3,149 ft of crosscutting.
The Report entitled "Independent Technical Report, Sturgeon River Mine
Property, Beardmore, Ontario, Canada" can be viewed at www.sedar.com and on
the Company's website.
Joerg Kleinboeck, P.Geo., a consulting geologist with Caracle Creek
International Consulting Inc. (CCIC), is the project manager and is also the
Company's Qualified Person as defined by National Instrument 43-101. Mr.
Kleinboeck has reviewed and approved the scientific and technical content of
Laurion Mineral Exploration Inc. is an exploration specialist in
early-stage development or mineral properties with projects in Ontario.
Laurion's exploration horizons encompass not only gold, but also base metals
The TSX Venture Exchange does not accept 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. Neither Laurion nor its management assumes any
obligation to revise or update these forward-looking statements.
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; CHF Investor Relations, Jacqueline Wagenaar, Account Manager,
firstname.lastname@example.org, Tel: (416) 868-1079 x 289, Website: www.chfir.com