Laurion Completes 2010 Drill Program at Bell Mountain, Engages Telesto Nevada to Prepare NI 43-101 Resource Estimate

Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCQX:LMEFF) ("Laurion")
completed an extensive drill program at the Company's 100% owned Bell Mountain
property in Churchill County, Nevada and has engaged Telesto Nevada, Inc. to
develop a National Instrument 43-101 compliant technical report for the property
contemplating a conventional low cost open pit mining method with heap leach
processing configuration. 


The 2010 drill program included 56 holes and 14,240 feet of reverse circulation
drilling. Below are the highlights of the 2010 drill program.




- BMG-01   45 feet of 1.0 g/t gold and 30.16 g/t silver,                    
           including 25 feet of 1.48 g/t gold and 39.38 g/t silver;         
- BMG-02   50 feet of 0.75 g/t gold and 14.83 g/t silver,                   
           including 20 feet of 1.08 g/t gold and 18.35 g/t silver;         
- BMG-03   85 feet of 0.42 g/t gold and 10.67 g/t silver, including 0.78 g/t
           gold and 13.65 g/t silver;                                       
- BMG-18   10 feet of 1.40 g/t gold and 14.4 g/t silver;                    
- BMG-12   35 feet of 0.76 g/t gold and 14.5 g/t silver;                    
- BMG-22   50 feet of 2.39 g/t gold and 23.9 g/t silver;                    
- BMG-28   100 feet of 0.62 g/t gold and 12.1 g/t silver, including 15 feet 
           of 2.61 g/t gold and 37.8 g/t silver;                            
- BMG-38   25 feet of 3.37 g/t gold and 28.6 g/t silver;                    
- BMG-31   80 feet of 0.62 g/t gold and 12.5 g/t silver.                    



Laurion's 2010 drill program at Bell Mountain commenced with and was based on an
extensive review of existing data and the geology in underground and surface
exposures of mineralization. The program was designed to confirm and expand a
resource estimate completed in 1991 by N. A. Degerstrom (the "Degerstrom
Report"). Degerstrom completed a detailed feasibility study on the Bell Mountain
project and permits for development were granted for the design and construction
of three viable open pits and heap leaching and processing facilities which were
supported by extensive metallurgical testing. Falling metals prices caused
Degerstrom to shelve the project (gold price $361.06/oz -1991, $334.80/oz - 1992
(Year end gold prices - Ktco.com)). 


The Degerstrom report, which was based on 34,682 feet of drilling, concluded
that the deposit contained 2.1 million tonnes grading 1.33 g/t gold and 37.6 g/t
silver. Although the Degerstrom Report was completed by credible professionals,
it was written prior to the enactment of NI 43-101 statute, thus a "Qualified
Person" must complete sufficient additional work to reclassify this historical
estimate as a current mineral resource and the historical estimate should
therefore not be relied upon.


Of the 14,240 feet of drilling in 2010, 79% was in the Varga area, which also
contained the bulk of the Degerstrom resource. The 2010 program clearly
demonstrates that gold and silver mineralization extends to depths of at least
30 to 100 feet below the known resource, a few hundred feet to the East and at
least 700 feet to the West. Gold and silver grades in these expansion areas are
lower than the grades outlined in the Degerstrom report, which can be attributed
to a lower cut-off grade in the 2010 drill program stemming from current
precious metal prices at levels more than 3.5 times those of 1991.
Significantly, lower cut-off grades would allow for a dramatic expansion of the
size of the open pit envisioned by Degerstrom in 1991. 


The Spurr deposit is separated from the Varga deposit by a 500 foot zone of
poorly mineralized rock. In 2010, Laurion drilled 3,020 feet across 12 drill
holes at the Spurr deposit. As with the Varga deposit, the current higher
precious metal prices should allow for open pit mining at the Spurr deposit at
greater depths. Of the twelve drill holes at the Spurr deposit, one was a repeat
of a prior drill hole and 11 holes were drilled to extend mineralization further
down the 45 degree dipping complex vein structure. This drilling confirmed that
the mineralization persists down dip and that the Spurr zone is terminated
laterally by faulting at both ends. 


About Telesto Nevada Inc. 

Laurion is pleased to announce that it has selected Telesto Nevada, Inc.
("Telesto") to develop a National Instrument 43-101 compliant technical report
for its 100% owned Bell Mountain property. Telesto, based in Reno, Nevada, is a
full service civil engineering firm offering a variety of professional services
to the land development and mining industries. The Telesto report will be based
on a combination of historical drill results and drill results from the
Company's 2010, 56-hole, 14,240 foot reverse circulation drill program. This
data will be used to generate a digital geologic and assay model of the Spurr
and Varga deposits and to calculate an estimated resource. 


Telesto expects to complete the resource estimate and technical report in the
first quarter of 2011. 


Qualified Persons 

The technical information contained in this news release has been verified by
Mr. Dana C. Durgin (MSc, P.Geo), Laurion's Exploration Manager, and Mr. Douglas
R. Wood (MSc, P.Geo), are the Qualified Persons responsible for the scientific
and technical work (as defined under National Instrument 43-101) discussed in
this press release, and have reviewed this press release. 


About Laurion Minerals Exploration Inc. 

The Corporation's focus is to make the transition from explorer to near-term
producer and envisages the realization of shareholder value and wealth through
monetization of its discoveries and assets. Laurion's exploration horizons are
focused primarily on gold with a secondary interest in base metals and PGEs with
key interests in prospective mining properties located in Ontario and Churchill
County, Nevada USA. 


The Corporation has an option to acquire a 100% interest in the Bell Mountain
Gold Project with Globex Mining Enterprises Inc. (TSX:GMX)(FRANKFURT:G1M)
("Globex") of Rouyn-Noranda, Quebec. 


Laurion is well-funded to complete the next phases of drilling and exploration
work on the Bell Mountain and Sturgeon River Gold Projects and to successfully
advance these projects, moving the Corporation closer to being a near-term
producer. 


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. Such statements include, but are not limited to, statements
concerning the expected timing of assay results. 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. Laurion and its management assume no obligation
to revise or update these forward looking statements.
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