Ms. Cynthia Le Sueur-Aquin reports

LAURION ANNOUNCES CLOSING OF PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

Laurion Mineral Exploration Inc. has closed its previously announced non-brokered private placement consisting of an aggregate of 3,725,633 flow-through shares at a subscription price of 45 cents per FT share for aggregate gross proceeds to the corporation of $1,676,535.

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 gross proceeds of the private placement will be used for Canadian exploration expenses (within the meaning of the act), which will qualify, once renounced, as flow-through mining expenditures, as defined in the act, which will be renounced with an effective date of no later than Dec. 31, 2024 (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 $75,000 as a cash finder's commission. 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 Aug. 13, 2024. The private placement remains subject to the final approval of the TSX Venture Exchange.

About Laurion Mineral Exploration Inc.

Laurion Mineral Exploration is a junior mineral exploration and development company listed on the TSX Venture Exchange under the symbol LME and on the OTC under the symbol LMEFF. Laurion now has 267,071,735 outstanding shares of which approximately 72 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 57.43-square-kilometre Ishkoday project, and its gold-rich polymetallic mineralization.