Laurion Completes $820,000 Private Placement

Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCQX:LMEFF) ("Laurion" or
the "Corporation") has closed the private placement (the "Offering") of the
issuance of 8,200,000 flow-through units (each a "Unit") at a price of $0.10 per
Unit for aggregate gross proceeds of $820,000, as previously announced on June
17, 2011 (the "Initial Announcement"). The terms set forth in the Initial
Announcement were subsequently revised, as announced on June 23, 2011. The
Offering is subject to the final approval of the TSX Venture Exchange. 


Each Unit consists of: (i) one common share of Laurion, which qualifies as a
flow-through share pursuant to the Income Tax Act (Canada); and (ii) one common
share purchase warrant (each a "Warrant"). Each whole Warrant entitles the
holders thereof to purchase, for a period of 24 months (the "Term") from the
closing of the Offering (the "Closing"), one common share of Laurion issued on a
non-flow-through basis (each a "Common Share") upon payment of $0.16 in the
first year of the Term or $0.18 in the second year thereof. 


Finder's fees totalling an aggregate of $66,850 cash and 799,000 options (the
"Finder's Options") were paid in connection with the Offering. While 750,000 of
the issued Finder's Options each entitle the holder to purchase one Unit (issued
on a non-flow-through basis) at an exercise price of $0.10 per Unit (with each
Unit in turn consisting of a Common Share and a Warrant exercisable on the same
terms as the Warrants described above) for a period of 24 months from the
Closing, the remaining issued Finder's Options each entitle the holders to
purchase one Common Share at an exercise price of $0.10 per Common Share for a
period of 24 months from the Closing. 


The proceeds of the Offering will be used to fund the Company's exploration
activities on the Sturgeon River property near Beardmore, Ontario. 


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, with key
interests in prospective mining properties located in Ontario and Nevada.


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 approval of Laurion's application to trade its common shares over
the facilities of the OTCQX and the commencement of such trading.
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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