Ms. Cynthia Le Sueur-Aquin reports

LAURION PAYS FINANCIAL ADVISORY FEE TO US CAPITAL GLOBAL

Laurion Mineral Exploration Inc. has paid a financial advisory fee to U.S. Capital Global Partners LLC in the amount of $250,000 (U.S.). On Aug. 23, 2023, the corporation agreed to pay the financial advisory fee to U.S. Capital Global, with the expectation that this will assist the corporation and its recently formed special committee with continuing to explore opportunities and potential transactions that may be strategically beneficial to the corporation and its stakeholders.

Headquartered in San Francisco, U.S. Capital Global is a global, full-service private financial group with an established record in investment banking, asset management and capital formation services. The group provides sophisticated debt, equity and investment products to lower-middle-market companies and investors. Any securities that are offered by the group is done so through its FINRA (Financial Industry Regulatory Authority)-member, SEC (United States Securities and Exchange Commission)-registered broker-dealer affiliate, U.S. Capital Global Securities LLC.

Pursuant to an agreement with a director of the corporation, the fee payable to U.S. Capital Global is recoverable by the corporation if the corporation does not secure a transaction to the corporation's satisfaction as a result of, arising from, or related to an engagement of U.S. Capital Global. This agreement constitutes a related-party transaction for the corporation pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The agreement is exempt from the formal valuation and minority shareholder approval requirements provided under MI 61-101 in accordance with sections 5.5(a) and 5.7(1)(a) of MI 61-101. The corporation is relying on an exemption from the formal valuation and minority shareholder approval requirements of MI 61-101, available because the fair market value of the agreement does not exceed 25 per cent of the corporation's market capitalization, as determined in accordance with MI 61-101.

About Laurion Mineral Exploration Inc.

The corporation is a junior mineral exploration and development company. Laurion now has 257,159,855 outstanding shares, of which approximately 80 per cent are owned and controlled by insiders who are eligible investors under the friends and family categories.

Laurion's emphasis is on the exploration and development of its flagship project, the 100-per-cent-owned mid-stage 47-square-kilometre Ishkoday project, and its gold-rich polymetallic mineralization.

Laurion's chief priority remains maximizing shareholder value while simultaneously embracing and considering the principles and best practices of environmental, social and corporate governance (ESG) issues. A large portion of the corporation's focus in this regard falls within the ambit of its mineral exploration activities and, more specifically, advancing the Ishkoday project.

We seek Safe Harbor.