LAURION Mineral Exploration Inc. reported results from recent drilling at it's wholly-owned Ishkoday gold-polymetallic property, located in northwestern Ontario, 56 kilometres west of Geraldton, and just 10 kilometres north of the Trans Canada highway No. 11 along Provincial Road 801. The results for holes LBX22-090 to LBX22-094 complete the assay database for the Corporation's 2022 drilling campaign.

Results for five (5) holes were received for a total of 1,926 metres (NQ core) of which two holes, for a total of 744 metres, were successful at intersecting the depth extension of the A-Zone polymetallic synvolcanic mineralization. The intercepts include 1.64 g/t Au and 3.14% Zn over 1m (from 168m to 169m) in hole LBX22-092 and 0.73 g/t Au and 3.1% Zn over 0.71m (226.4m to 227.1m) in hole LBX22-093. Hole LBX22-090 was drilled to the West of the A-Zone in order to test an interpreted North trending orogenic structure Hole LBX22-090A represents the first of two holes drilled from this location.

The drill hole was terminated at a depth of 55 metres, due to excessively blocky ground; however, it intersected several stringers/veins/narrow intervals of polymetallic mineralization throughout, the most significant of which was a 1.08 metres wide (core width) intercept grading 1.35 g/t Au and 0.62% zinc. Current interpretation supports the existence of North trending orogenic structures. Hole LBX22-091 was located nearly 300 metres north of the A-Zone proper This hole was designed to test a coincident IP chargeability and VTEM anomalies comprising a northeast-trending feature parallel to and possibly related to the A-Zone and/or associated, later orogenic-gold mineralized structures. This area had not been previously tested by LAURION.

The hole was drilled toward the southeast to a depth of 249.00 metres. Near the end of the hole, between 228.5 and 229.7 metres, the drillhole intersected 2.83 g/t Au over 1.15 metres; including 0.5 metre at 5.29 g/t Au. The gold versus base metals content of the observed mineralization appears to be consistent with later orogenic style gold mineralization as opposed to earlier style epithermal mineralization.

LAURION is very pleased with its key exploration milestones achieved in 2022, validating the 6 km x 2.5 km mineralized corridor and extending the A-Zone to the McLeod Zone by 400 m to 1.4 km, thereby significantly increasing the gold potential of the property by identifying this new orogenic mineralization associated with the Niish Shear Zone. Key Mineralization Findings in 2022 Through its drilling campaign, mapping program, stripping of outcrop and 3D modelling, LAURION has gained significant understanding in the mineralization style and history present at the Ishoday property. Exploratioion potential for concentrations of gold mineralization of possible economic significance exists in arareas where both earlier and later mineralization is found overlapping and in close proximity, or where there is a sufficient concentration of orogenic gold-bearing veins alone.

The newly identified (2022 exploration) Niish orogenic structure (Figure1) holds a significant potential for orogenic mineralization and will be the focuss of the Corporation's 2023 exploration campaign. This structure has been identified in several drillholes on the property and also from surface mapping, as containing extensive orogenic style alteration.