Technical Report For Bell Mountain Project 

TORONTO, ON - Laurion Mineral Exploration Inc. reported that the Technical Report supporting the recent initial Mineral Resource Estimate on the Bell Mountain Project, in Churchill County, Nevada has been filed.

The report details an initial Measured and Indicated Mineral Resource estimate at Bell Mountain's Varga, Spurr and Sphinx Zones of 9,761,000 tonnes at an average grade of 0.526 g/t gold and 17.63 g/t silver hosting 165,018 ounces gold and 5,533,907 ounces silver and and initial Inferred Mineral Resource estimate of 2,046,000 tonnes of material at an average grade of 0.449 g/t gold and 13.26 g/t silver hosting 29,550 ounces gold and 872,411 ounces silver. This Mineral Resource Estimate assumed a gold price of $1,149.89 per ounce and a silver price of $20.92 per ounce. Preliminary estimates for operating costs were $11.43 per ton (mining, processing and G&A) and for recoveries were 80% for gold and 51% for silver. The NI 43-101 Mineral Resource estimate was completed by Telesto Nevada Inc. It incorporates data obtained from 54,692 feet (16,671 meters) of 244 reverse circulation ("RC") drill holes completed on the Varga, Spurr and Sphinx zones. Highlights of the Bell Mountain Property: The estimated equivalent ounces of gold contained in the Measured and Indicated Mineral Resource is 265,635 ounces, and estimated Inferred Mineral Resource is 45,412 ounces. The resource estimate is comprised of mineralization found on the Varga, Spurr and Sphinx zones; The mineralized zones remain open to depth and laterally; The gold-silver mineralized structurally controlled Spurr-Varga fault can be traced for more than 1.8 kilometers (6,000 feet) on surface. On the fault, approximately 1.5 kilometers on strike to the east of the Varga zone, a further mineralized zone, the East Ridge CC zone, has excellent potential for resource addition. The zone had a total of 481 meters in 13 RC drill holes spaced over a strike length of approximately 300 meters, completed in 2003 by NDT ventures, which confirmed mineralization. The Mike Zone, located between the Varga the East Ridge CC Zone, displays similar widths and characteristics, and appears open to adding to the Bell Mountain Resources by further drill programs; The Sphinx Vein system can be traced for more than 900 metres along strike by prospect pits, vein quartz float and trenching and is available to resource expansion in further drill programs; A Preliminary Feasibility study contemplating a conventional open pit heap leach configuration and assessment for potential production is in progress; Environmental permitting requirements to include development of baseline needs and mine plan of operations is in progress. Parameters used to estimate the in-situ resource are based on information supplied by Bell Mountain Group. Assumptions were made for items like strip ratio, mining costs, processing costs and recovery percentages. These assumptions were based on published and previously calculated rates for other mining operations having similar parameters, and on testwork performed on Bell Mountain samples. The operation parameters assume open pit mining and cyanide heap leaching. A conceptual open pit mining method was used for the purpose of delineating the mineralization with a reasonable prospect of economic extraction. Tonnage estimates were based on a 2.6 grams/cubic centimeter density factor. Inverse distance square method was used to interpolate grade in the resource model (geostatistical methods of calculating resources) using the database based on the RC and core drilling. The company's address is 33 Bay Street, Suite 2900, PO Box 2900, Toronto, ON M5H 2T4.