TORONTO,
Jan. 15, 2013 /CNW/ - Laurion
Mineral Exploration Inc. (TSX-V: LME) and (OTCQX: LMEFF)
("Laurion" or the "Corporation") is announcing that,
as required by the policies of the TSX Venture Exchange (the
"TSX-V"), it has amended the option agreements (the
"Original Option Agreements") between the Corporation
and each of its directors (the "Directors") pertaining to
the stock options (the "Options") that were granted to the
Directors on December 31, 2012.
As disclosed in a press release dated
December 31, 2012, Laurion's
Compensation Committee issued an aggregate of 3,130,000 Options to
the Directors as compensation for their respective contributions to
Laurion during fiscal 2012. Pursuant to the Original Option
Agreements, each Option has a ten year term and an exercise price
of $0.05 per common share of Laurion
(each, a "Common Share"). One-third of the Options
will vest immediately, one-third of the Options will vest on the
first anniversary of their date of grant and the remaining
one-third of the Options will vest on the second anniversary of
their date of grant.
In summary, the announcement herein contemplates
that the Original Option Agreements have been amended to provide
that the exercise price of each Option was increased to
$0.10 per Common Share.
About Laurion Mineral Exploration
Inc.
Laurion Mineral Exploration Inc. is a junior
mining company focusing on the upside of its 100%-owned Sturgeon
River property, a high impact project with a primary focus on gold
and secondary focus in base metals.
With proven ability to develop early stage
projects and create shareholder value by monetizing its discoveries
and assets, Laurion has realized a total of $6.35 million in the last two years from
monetization of its assets. The Corporation's current focus is on
resource development at Sturgeon River, located in Beardmore, Ontario, approximately 220 km
northeast of Thunder Bay.
Neither the TSX-V nor its Regulation Services
Provider (as that term is defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this news
release.
This news release includes certain
forward-looking statements concerning the future performance of
Laurion's business, operations and condition, as well as
management's objectives, strategies, beliefs and intentions.
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. 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
except as required by law.
SOURCE Laurion Mineral Exploration Inc.