LAURION Advances Ishkōday Gold and Polymetallic Project Through Remediation and Exploration

LAURION Mineral Exploration Inc. has made significant strides in advancing its Ishkōday Gold and Polymetallic Project, located in the Onaman-Tashota and Beardmore-Geraldton Greenstone Belts of Northwestern Ontario. The company is currently focused on two key initiatives: the recovery and remediation of the historical Sturgeon River Mine surface waste rock stockpile and the dewatering and rehabilitation of the mine shaft to facilitate further exploration.

According to LAURION, the Sturgeon River Mine surface waste rock stockpile is a legacy of historic mining operations. The company has submitted an application for a Recovery of Minerals Permit to the Ministry of Energy and Mines, including a Recovery and Remediation Plan, under section 152.1 of Ontario’s Mining Act and Ontario Regulation 463/24. The plan aims to recover potentially economic mineralized material from the stockpile, which currently exists on the surface as a result of decades-old operations. LAURION intends to remove the material, process it off-site, and remediate the stockpile area in accordance with provincial standards.

Separately, LAURION is advancing plans to rehabilitate the historical Sturgeon River Mine shaft. The shaft, which extends approximately 642 metres below surface and includes 15 historical underground levels, has remained flooded since mining operations ceased in 1942. The proposed Advanced Exploration Project involves removing the existing shaft cap, rehabilitating the shaft collar, and installing a temporary exploration headframe and hoisting plant to allow for safe access, controlled dewatering, and progressive rehabilitation of the shaft and existing underground levels. Once safe underground access has been established, LAURION intends to undertake underground exploration drilling and sampling to further evaluate the deposit and mineralized system.

To facilitate these exploration activities, LAURION is preparing a Permit to Take Water (PTTW) application for the dewatering activities, which will be submitted to the Ministry of the Environment, Conservation and Parks (MECP) in the fourth quarter of 2026. The application will include a detailed hydrogeological impact assessment to characterize the proposed water taking and assess potential effects on surrounding groundwater and surface water resources.

LAURION has also undertaken a comprehensive environmental baseline program over the past five years. This program includes terrestrial ecology, species at risk and bat studies, aquatic and benthic studies, groundwater and surface water studies, shaft water and hydrogeological studies, and archaeological studies. The studies provide a foundation for ongoing regulatory review and permitting activities and will inform the development of project-specific environmental management, monitoring, mitigation, and remediation measures.

Indigenous and stakeholder consultation is an integral part of the Ishkōday Project. LAURION has engaged with applicable Indigenous communities, including the Animbiigoo Zaagi’igan Anishinaabek First Nation, Bingwi Neyaashi Anishinaabek First Nation, and Biinjitiwaabik Zaaging Anishinaabek First Nation, to discuss the proposed transition to advanced exploration through dewatering of the historical mine shaft and the recovery and off-site processing of the existing surface waste rock stockpile.

LAURION’s strategy emphasizes disciplined, data-driven exploration and systematic technical advancement. The company is focused on strengthening geological confidence, expanding the scale of the mineral system, and positioning the project for a potential future Mineral Resource Estimate. The Ishkōday Project covers approximately 57 km² and hosts a single 6.0 km by 2.5 km mineralized corridor. Historical and modern exploration programs have completed over 98,000 metres of drilling, confirming a large and evolving gold-rich base metal mineral system.

LAURION’s largest shareholder, holding 17,221,306 common shares, reflects strong support for the company’s initiatives.