Ms. Cynthia Le Sueur-Aquin reports

LAURION ANNOUNCES CLOSING OF UPSIZED PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

Laurion Mineral Exploration Inc. has closed its previously announced non-brokered private placement consisting of an aggregate of 5,142,900 flow-through (FT) shares at a subscription price of 56 cents per FT share for aggregate gross proceeds to the corporation of $2,880,024. As announced on November 2, 2023, the Corporation agreed to upsize the Private Placement as a result of strong investor interest and over-subscriptions.

Each FT Share is a common share of the Corporation issued as a "flow-through share" (as defined in subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act")). The gross proceeds of the Private Placement will be used for "Canadian exploration expenses" (within the meaning of the Tax Act), which will qualify, once renounced, as "flow-through mining expenditures", as defined in the Tax Act, which will be renounced with an effective date of no later than December 31, 2023 (provided the subscriber deals at arm's length with the Corporation at all relevant times) to the initial purchasers of FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares.

In connection with the closing of the Private Placement, an arm's-length finder, Mine Equities Ltd., received an aggregate of $62,500.59 as a cash finder's commission and 111,608 common shares in the capital of LAURION as "finder's shares". Pursuant to applicable Canadian securities laws, all securities issued in connection with the Private Placement are subject to a hold period of four months and one day, expiring on March 4, 2024. The Private Placement remains subject to the final approval of the TSX Venture Exchange (the "TSXV").

About LAURION Mineral Exploration Inc.

The Corporation is a junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTC under the symbol LMEFF. LAURION now has 263,346,102 outstanding shares of which approximately 80% 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% owned mid-stage 57 km2 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.