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TORONTO, Aug. 19, 2021 /CNW/ - LAURION Mineral
Exploration Inc. (TSXV: LME) (OTCPINK:
LMEFF) ("LAURION" or the "Corporation") announces
that it has granted to each of John
Covello and Nick Ierfino
incentive stock options ("Options") to acquire
18,106 common shares of the Corporation, exercisable on or
before August 19, 2026 at an exercise
price of $0.55 per share, subject to
vesting requirements. These Options are part of a discretionary
performance bonus awarded to Mr. Covello and Mr. Ierfino (who are
both directors of the Corporation) in recognition of their
significant contributions to the Corporation's capital raising
initiatives.
The issuance of Options, as contemplated in this news release,
is subject to the terms of the Corporation's stock option plan and
TSX Venture Exchange ("TSXV") approval.
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 OTCPINK
under the symbol LMEFF. The Corporation currently has 233,556,667
outstanding shares, of which approximately 79% are owned and
controlled by Insiders who are eligible investors under the
"Friends and Family" categories.
LAURION's emphasis is on the development of its flagship
project, the 100% owned mid-stage 47 km2 Ishkoday
Project, and its gold-rich polymetallic mineralization with a
significant upside potential. The mineralization on Ishkoday is
open at depth beyond the current core-drilling limit of
-200m from surface, based on the
historical mining to a -685 m depth,
in the past producing Sturgeon River Mine. The recently acquired
Brenbar Property, which is contiguous with the Ishkoday Property,
hosts the historic Brenbar Mine and LAURION believes the
mineralization to be a direct extension of the Ishkoday
Property.
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Caution Regarding Forward-Looking Information
This press release contains forward-looking statements, which
reflect the Corporation's current expectations regarding future
events, including with respect to LAURION's business, operations
and condition, management's objectives, strategies, beliefs and
intentions and the issuance of Options. The forward-looking
statements involve risks and uncertainties. Actual events and
future results, performance or achievements expressed or implied by
such forward-looking statements could differ materially from those
projected herein including as a result of the interpretation and
actual results of current exploration activities, the TSXV not
providing its approval for the granting of Options, changes in
project parameters as plans continue to be refined, future prices
of gold and/or other metals, possible variations in grade or
recovery rates, failure of equipment or processes to operate as
anticipated, the failure of contracted parties to perform, labor
disputes and other risks of the mining industry, delays in
obtaining governmental approvals or financing or in the completion
of exploration, as well as those factors disclosed in the
Corporation's publicly filed documents. Investors should consult
the Corporation's ongoing quarterly and annual filings, as well as
any other additional documentation comprising the Corporation's
public disclosure record, for additional information on risks and
uncertainties relating to these forward-looking statements. The
reader is cautioned not to rely on these forward-looking
statements. Subject to applicable law, the Corporation disclaims
any obligation to update these forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
SOURCE Laurion Mineral Exploration Inc.