Laurion Announces Closing Of Private Placement Of Flow-Through Units

Executive Summary

• Laurion Mineral Exploration closed a non‑brokered private placement of 4,619,130 flow‑through units at $0.33 per unit, raising gross proceeds of approximately $1.52 million.
• Proceeds are earmarked for the 2026 drill program on the Ishkõday property, focusing on the A‑Zone/McLeod, CRK Trend, and historic Sturgeon River Mine areas.
• The placement includes finder commissions of $66,559 and 201,693 finder warrants; securities are subject to a four‑month hold period pending TSXV final approval.

Key Details

• Units Issued: 4,619,130 flow‑through (FT) units.
• Subscription Price: $0.33 per FT unit.
• Gross Proceeds: $1,524,313.
• Unit Composition: Each FT unit = 1 common share + ½ of a common share purchase warrant.
• Warrant Terms: Right to acquire one non‑flow‑through common share at $0.39 per share for 24 months from issuance.
• Finder Compensation: $66,559 cash commissions paid to arm’s‑length finders; 201,693 finder warrants issued (exercise price $0.33, 24‑month term).
• Use of Proceeds: Entire amount allocated to Canadian exploration expenses, to be renounced as flow‑through mining expenditures by Dec 31 2025 and applied to the 2026 drilling campaign on Ishkõday.
• Drilling Focus Areas:
• A‑Zone/McLeod trend
• CRK Trend
• Historic Sturgeon River Mine area
• Hold Period: Securities subject to a four‑month + one‑day hold, expiring April 23 2026.
• Regulatory Condition: Placement remains subject to final approval by the TSX Venture Exchange (TSXV).

Notable Quotes

“This financing enables us to keep advancing our disciplined, technically driven approach to unlocking the potential of the Ishkõday system,” – Cynthia Le Sueur‑Aquin, President and CEO.