Laurion Announces Amended Payment Terms to Purchase Agreement with Lincoln Mining for the Bell Mountain Project

Toronto, Ontario--(Newsfile Corp. - September 9, 2014) - Laurion Mineral Exploration Inc. (TSXV: LME) (OTCQX: LMEFF) ("Laurion") announced today that it has consented to amend the payment terms under the purchase and sale agreement dated November 28, 2012 (the "Purchase Agreement"), governing the sale by Laurion of the Bell Mountain Project (as defined below) to Lincoln Mining Corporation ("Lincoln"). Under the terms of the amended agreement to the Purchase Agreement (the "Amended Agreement"), both Laurion and Lincoln have agreed that remaining payment of approximately $736,877 including 4% interest would be subject to a payment schedule as outlined below.

Under the terms of the Purchase Agreement, Lincoln was to pay Laurion a cash purchase price of $2,350,000 according to a prescribed payment schedule as consideration for the acquisition of certain mining claims, and an option to earn a 100% interest in the Bell Mountain property located in Churchill County, Nevada ("Bell Mountain Project").

Laurion had previously agreed to Lincoln's various payment extension requests, but Lincoln has not been able to fulfil them. Pursuant to the terms of the Amended Agreement, Lincoln has made a payment of $50,000 of which $25,000 will be applied toward the principal balance and $25,000 will be paid to Laurion as a bonus payment. The remaining payment schedule under the Amended Agreement provides for Lincoln to either pay the outstanding principal balance owing to Laurion by September 30, 2014 or Lincoln can obtain monthly extensions for payments of $75,000, which in turn each provide Laurion with a bonus payment of $25,000 and an extension payment applied toward the principal balance in the amount of $50,000, for each such monthly extension until December 31, 2014. In the event Lincoln fails to make all of the extension payments contemplated above and they are not paid prior to December 31, 2014, then as of January 1, 2015, Laurion is at liberty to: (a) take whatever steps it considers necessary and appropriate under the Purchase Agreement, including without limitation, relying on a (i) duly executed assignment and assumption agreement between, among others, Lincoln and Laurion dated as of September 2, 2014 with respect to the transfer of rights and interests relating to the Bell Mountain Project to Laurion (the "Assignment Agreement"), and (ii) quit claim duly executed as of September 2, 2014 by Lincoln in favour of Laurion in respect of the Bell Mountain 180 claims (the "Quit Claim"), (b) accept a further set of monthly extension payments from Lincoln until June 30, 2015, as outlined below, or (c) seek to obtain a favourable judgement against Lincoln. The Assignment Agreement and Quit Claim have been placed into escrow.

If after January 1, 2015, Laurion elects to accept a further set of monthly extension payments from Lincoln until June 30, 2015, Lincoln would pay Laurion a monthly bonus payment of a $25,000 and a principal balance payment of $125,000 for each monthly extension requested. lf the full outstanding balance is not paid in accordance with the description above, and in any event by June 30, 2015, or if Lincoln fails to make two consecutive extension payments prescribed by the Amended Agreement, then Laurion is at liberty to (a) take whatever steps it considers necessary and appropriate under the Purchase Agreement, including without limitation, relying on the (i) Assignment Agreement, and (ii) Quit Claim, or (b) seek to obtain a favourable judgement against Lincoln.

Exploration Planning and Outlook on the Ishkoday Discovery Property

Over the last 6 months, Laurion has completed its objective of carrying out programs composed of high resolution aerial photography, and retaining expertise with volcanogenic and structural perspective for guidance on regional targeting concepts and recommendations for effective exploration techniques and definition of priority target zones.

Over the next 6 months Laurion's objectives are based on the validation of proximity to a large volcanic and hydrothermal centre received from Drs. Gibson and Kruse (see Press Release dated - September 3, 2014). Laurion is planning a detailed mapping program and a program of 10km of IPower 3D ground geophysical surveys perpendicular to the strike of the 3,000m long Trends. These programs will be followed by 6,500m of diamond drilling focusing on testing the depth extent of the three gold-rich base metal trends, targeting the core of the large magmatic hydrothermal system and possible associated feeder structures.

About Laurion

Laurion's Ishkoday Discovery Property is contained within a 100% owned 4,442ha property package, located 220 km northeast of Thunder Bay with easy access off the Trans-Canada Highway.

Laurion is focused on unlocking the value of the Ishkoday gold and base metal environment hosted within three base metal trends, 3,000m each in strike length, in a 1km wide corridor. Laurion is expanding on a legacy of gold production from the Ishkoday shaft which is hosted in a significant gold environment.

Laurion's balanced and diversified management team is results driven and has achieved a decade of growth through asset monetization. Laurion's management objective is to advance the Ishkoday Discovery Property from discovery to value creation to exit strategy.

FOR FURTHER INFORMATION, CONTACT:

Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President
Tel: 1-855-788-9186
Tel: 1-705-788-9186
Fax: 1-705-788-9187
Website: www.laurion.ca

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.